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

Abercrombie & Fitch (NYSE:ANF) had its target price lifted by research analysts at Morgan Stanley from $103.00 to $112.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the apparel retailer’s stock. Morgan Stanley’s price target would suggest a potential downside of 12.81% from the company’s current price.

Other analysts have also recently issued research reports about the company. Telsey Advisory Group reiterated an “outperform” rating and set a $152.00 target price (up previously from $140.00) on shares of Abercrombie & Fitch in a research report on Wednesday, March 6th. UBS Group increased their target price on Abercrombie & Fitch from $98.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Jefferies Financial Group increased their target price on Abercrombie & Fitch from $149.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Citigroup increased their target price on Abercrombie & Fitch from $100.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Finally, Argus increased their price target on Abercrombie & Fitch from $97.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Abercrombie & Fitch currently has a consensus rating of “Moderate Buy” and an average target price of $124.00.

Abercrombie & Fitch Stock Performance

Shares of ANF opened at $128.46 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.59 and a debt-to-equity ratio of 0.21. The business has a 50-day simple moving average of $123.72 and a two-hundred day simple moving average of $101.34. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 20.65 and a beta of 1.57. Abercrombie & Fitch has a 52 week low of $22.21 and a 52 week high of $140.28.

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

Insider Activity

In other news, CEO Fran Horowitz sold 400,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $110.61, for a total value of $44,244,000.00. Following the completion of the sale, the chief executive officer now directly owns 525,520 shares of the company’s stock, valued at approximately $58,127,767.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Fran Horowitz sold 400,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $110.61, for a total value of $44,244,000.00. Following the completion of the sale, the chief executive officer now directly owns 525,520 shares of the company’s stock, valued at approximately $58,127,767.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jay Rust sold 786 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $125.41, for a total value of $98,572.26. Following the completion of the sale, the executive vice president now owns 1,014 shares in the company, valued at $127,165.74. The disclosure for this sale can be found here. Insiders sold 558,786 shares of company stock valued at $64,340,812 in the last ninety days. Insiders own 3.77% of the company’s stock.

Institutional Investors Weigh In On Abercrombie & Fitch

Hedge funds and other institutional investors have recently modified their holdings of the business. Trexquant Investment LP raised its holdings in shares of Abercrombie & Fitch by 355.9% in the third quarter. Trexquant Investment LP now owns 195,866 shares of the apparel retailer’s stock worth $11,041,000 after buying an additional 152,907 shares during the period. Dark Forest Capital Management LP purchased a new position in Abercrombie & Fitch during the 3rd quarter worth $777,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Abercrombie & Fitch by 39.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 153,229 shares of the apparel retailer’s stock worth $8,638,000 after purchasing an additional 43,310 shares during the period. Teza Capital Management LLC purchased a new position in Abercrombie & Fitch during the 3rd quarter worth $598,000. Finally, Jupiter Asset Management Ltd. purchased a new position in Abercrombie & Fitch during the 3rd quarter worth $782,000.

About Abercrombie & Fitch

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.