Abercrombie & Fitch (NYSE:ANF) Price Target Raised to $112.00 at Morgan Stanley

Abercrombie & Fitch (NYSE:ANF) had its target price increased by research analysts at Morgan Stanley from $103.00 to $112.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the apparel retailer’s stock. Morgan Stanley’s price target suggests a potential downside of 12.99% from the company’s previous close.

ANF has been the topic of a number of other research reports. Telsey Advisory Group reiterated an “outperform” rating and set a $152.00 price objective (up previously from $140.00) on shares of Abercrombie & Fitch in a research report on Wednesday, March 6th. UBS Group upped their price target on shares of Abercrombie & Fitch from $98.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. StockNews.com upgraded shares of Abercrombie & Fitch from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Argus upped their price target on shares of Abercrombie & Fitch from $97.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Finally, Citigroup upped their price target on shares of Abercrombie & Fitch from $100.00 to $127.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $124.00.

Abercrombie & Fitch Price Performance

Abercrombie & Fitch stock traded down $0.04 during mid-day trading on Monday, reaching $128.72. 730,041 shares of the company’s stock traded hands, compared to its average volume of 1,577,082. The company has a market cap of $6.58 billion, a price-to-earnings ratio of 20.76 and a beta of 1.57. The stock has a 50 day moving average of $123.61 and a two-hundred day moving average of $100.38. The company has a quick ratio of 1.10, a current ratio of 1.59 and a debt-to-equity ratio of 0.21. Abercrombie & Fitch has a 12-month low of $22.21 and a 12-month high of $140.28.

Abercrombie & Fitch (NYSE:ANF) last posted its quarterly earnings data on Wednesday, March 6th. The apparel retailer reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.14. Abercrombie & Fitch had a net margin of 7.67% and a return on equity of 38.80%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the business posted $0.81 earnings per share. The business’s revenue was up 21.1% compared to the same quarter last year. Equities analysts forecast that Abercrombie & Fitch will post 7.48 earnings per share for the current year.

Insider Buying and Selling at Abercrombie & Fitch

In other Abercrombie & Fitch news, CFO Scott D. Lipesky sold 35,000 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $127.95, for a total transaction of $4,478,250.00. Following the completion of the sale, the chief financial officer now directly owns 88,558 shares of the company’s stock, valued at $11,330,996.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Scott D. Lipesky sold 35,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $127.95, for a total value of $4,478,250.00. Following the completion of the transaction, the chief financial officer now directly owns 88,558 shares of the company’s stock, valued at approximately $11,330,996.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kerrii B. Anderson sold 3,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $127.33, for a total transaction of $381,990.00. Following the completion of the transaction, the director now directly owns 45,878 shares of the company’s stock, valued at $5,841,645.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 558,786 shares of company stock valued at $64,340,812. 3.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Abercrombie & Fitch

A number of institutional investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp lifted its holdings in Abercrombie & Fitch by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 44,115 shares of the apparel retailer’s stock valued at $5,529,000 after purchasing an additional 613 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Abercrombie & Fitch during the 1st quarter worth $585,000. Daiwa Securities Group Inc. raised its holdings in shares of Abercrombie & Fitch by 85.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 1,300 shares of the apparel retailer’s stock worth $163,000 after acquiring an additional 600 shares during the period. Capstone Investment Advisors LLC raised its holdings in shares of Abercrombie & Fitch by 75.7% during the 1st quarter. Capstone Investment Advisors LLC now owns 30,791 shares of the apparel retailer’s stock worth $3,859,000 after acquiring an additional 13,268 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Abercrombie & Fitch during the 1st quarter worth $4,144,000.

Abercrombie & Fitch Company Profile

Abercrombie & Fitch Co, through its subsidiaries, operates as an omnichannel retailer in the United States, Europe, the Middle East, Asia, the Asia-Pacific, Canada, and internationally. The company offers an assortment of apparel, personal care products, and accessories for men, women, and kids under the Abercrombie & Fitch, abercrombie kids, Hollister, and Gilly Hicks brands.