Morgan Stanley Has Lowered Expectations for Abercrombie & Fitch (NYSE:ANF) Stock Price

Abercrombie & Fitch (NYSE:ANF) had its price target decreased by Morgan Stanley from $149.00 to $139.00 in a research note published on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the apparel retailer’s stock.

A number of other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Abercrombie & Fitch from $201.00 to $204.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Raymond James cut their target price on Abercrombie & Fitch from $180.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday. Telsey Advisory Group reiterated an “outperform” rating and issued a $190.00 target price on shares of Abercrombie & Fitch in a report on Tuesday. UBS Group upgraded Abercrombie & Fitch from a “neutral” rating to a “buy” rating and increased their target price for the stock from $173.00 to $220.00 in a report on Friday, January 10th. Finally, StockNews.com upgraded Abercrombie & Fitch from a “hold” rating to a “buy” rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $182.25.

Abercrombie & Fitch Stock Up 0.7 %

Shares of ANF stock opened at $130.85 on Wednesday. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 12.94 and a beta of 1.52. Abercrombie & Fitch has a 52 week low of $95.51 and a 52 week high of $196.99. The firm has a 50 day moving average of $147.72 and a 200-day moving average of $149.26.

Abercrombie & Fitch (NYSE:ANF) last announced its quarterly earnings data on Tuesday, November 26th. The apparel retailer reported $2.50 EPS for the quarter, topping the consensus estimate of $2.32 by $0.18. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The company’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.83 EPS. Analysts anticipate that Abercrombie & Fitch will post 10.63 earnings per share for the current year.

Insider Buying and Selling at Abercrombie & Fitch

In related news, Director Suzanne M. Coulter sold 2,870 shares of Abercrombie & Fitch stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $160.00, for a total value of $459,200.00. Following the completion of the sale, the director now owns 6,405 shares of the company’s stock, valued at approximately $1,024,800. This trade represents a 30.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Scott D. Lipesky sold 8,605 shares of Abercrombie & Fitch stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $150.20, for a total value of $1,292,471.00. Following the completion of the sale, the chief operating officer now directly owns 97,850 shares of the company’s stock, valued at approximately $14,697,070. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,401 shares of company stock worth $2,631,741. Corporate insiders own 2.58% of the company’s stock.

Institutional Investors Weigh In On Abercrombie & Fitch

Several large investors have recently added to or reduced their stakes in ANF. Westfield Capital Management Co. LP purchased a new position in Abercrombie & Fitch during the 3rd quarter valued at about $73,048,000. Driehaus Capital Management LLC grew its holdings in Abercrombie & Fitch by 283.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 303,896 shares of the apparel retailer’s stock valued at $54,045,000 after buying an additional 224,555 shares in the last quarter. Bank of Montreal Can grew its holdings in Abercrombie & Fitch by 293.7% during the 2nd quarter. Bank of Montreal Can now owns 286,434 shares of the apparel retailer’s stock valued at $51,043,000 after buying an additional 213,684 shares in the last quarter. Wellington Management Group LLP grew its holdings in Abercrombie & Fitch by 25.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,017,720 shares of the apparel retailer’s stock valued at $142,379,000 after buying an additional 204,901 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Abercrombie & Fitch by 16.0% during the 2nd quarter. Marshall Wace LLP now owns 873,148 shares of the apparel retailer’s stock valued at $155,281,000 after buying an additional 120,509 shares in the last quarter.

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.