Abercrombie & Fitch (NYSE:ANF) Rating Increased to Buy at Wall Street Zen

Abercrombie & Fitch (NYSE:ANF) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other analysts have also issued reports on ANF. Zacks Research upgraded Abercrombie & Fitch from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Morgan Stanley increased their price objective on Abercrombie & Fitch from $78.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 26th. Barclays raised their price objective on Abercrombie & Fitch from $94.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 6th. Citigroup upgraded Abercrombie & Fitch from a “neutral” rating to a “buy” rating and upped their target price for the company from $90.00 to $135.00 in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Abercrombie & Fitch from $128.00 to $102.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Abercrombie & Fitch presently has an average rating of “Moderate Buy” and an average target price of $120.90.

Abercrombie & Fitch Trading Down 1.2%

ANF stock opened at $97.79 on Friday. Abercrombie & Fitch has a one year low of $65.40 and a one year high of $133.11. The firm has a 50-day moving average of $106.35 and a two-hundred day moving average of $93.45. The firm has a market capitalization of $4.48 billion, a PE ratio of 9.38 and a beta of 1.19.

Abercrombie & Fitch (NYSE:ANF) last released its earnings results on Wednesday, November 26th. The apparel retailer reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.22. Abercrombie & Fitch had a net margin of 10.07% and a return on equity of 38.01%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the firm posted $2.50 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, equities research analysts anticipate that Abercrombie & Fitch will post 10.62 earnings per share for the current year.

Insider Activity

In related news, CEO Fran Horowitz sold 29,769 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $100.00, for a total transaction of $2,976,900.00. Following the completion of the transaction, the chief executive officer directly owned 308,503 shares in the company, valued at $30,850,300. This represents a 8.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 350,000 shares of company stock valued at $34,661,358 in the last 90 days. Company insiders own 2.29% of the company’s stock.

Hedge Funds Weigh In On Abercrombie & Fitch

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANF. Mercer Global Advisors Inc. ADV boosted its position in Abercrombie & Fitch by 21.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 18,109 shares of the apparel retailer’s stock valued at $2,279,000 after buying an additional 3,158 shares during the last quarter. Caitlin John LLC acquired a new stake in Abercrombie & Fitch during the 4th quarter worth $542,000. Vident Advisory LLC raised its holdings in Abercrombie & Fitch by 8.9% during the 4th quarter. Vident Advisory LLC now owns 44,234 shares of the apparel retailer’s stock worth $5,568,000 after buying an additional 3,623 shares during the period. Delta Global Management LP acquired a new position in Abercrombie & Fitch in the 4th quarter worth $25,570,000. Finally, State of Tennessee Department of Treasury grew its holdings in shares of Abercrombie & Fitch by 7.9% during the fourth quarter. State of Tennessee Department of Treasury now owns 17,994 shares of the apparel retailer’s stock worth $2,265,000 after buying an additional 1,315 shares in the last quarter.

Abercrombie & Fitch Company Profile

Abercrombie & Fitch Co (NYSE: ANF) is an American specialty retailer that designs, markets and sells casual apparel and accessories for men, women and children. Founded in 1892 by David T. Abercrombie and Ezra Fitch, the company evolved from an outdoor gear outfitter to a global lifestyle brand renowned for its relaxed, preppy aesthetic. Its product assortment includes tops, bottoms, outerwear, intimates, swimwear, fragrances and personal care items.

The company operates under multiple brand names, including Abercrombie & Fitch, Abercrombie Kids, Hollister and Gilly Hicks, each targeting distinct consumer segments from teens to young adults.