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

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

ANF has been the subject of several other research reports. Argus raised their price objective on shares of Abercrombie & Fitch from $97.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. UBS Group raised their target price 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. Citigroup raised their target price 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. Telsey Advisory Group restated an “outperform” rating and set a $152.00 target price (up from $140.00) on shares of Abercrombie & Fitch in a report on Wednesday, March 6th. Finally, Jefferies Financial Group raised their target price on shares of Abercrombie & Fitch from $149.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $124.00.

Abercrombie & Fitch Stock Performance

Abercrombie & Fitch stock traded down $0.04 during mid-day trading on Monday, hitting $128.72. 730,041 shares of the company’s stock traded hands, compared to its average volume of 1,577,082. Abercrombie & Fitch has a one year low of $22.21 and a one year high of $140.28. The company has a market cap of $6.58 billion, a PE ratio of 20.76 and a beta of 1.57. The firm has a 50 day moving average price of $123.61 and a 200 day moving average price 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 (NYSE:ANF) last posted its quarterly earnings data on Wednesday, March 6th. The apparel retailer reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the firm posted $0.81 earnings per share. The business’s revenue was up 21.1% on a year-over-year basis. On average, equities analysts forecast that Abercrombie & Fitch will post 7.48 EPS for the current year.

Insider Buying and Selling

In related news, insider Kristin A. Scott sold 120,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $126.15, for a total value of $15,138,000.00. Following the completion of the transaction, the insider now owns 38,208 shares of the company’s stock, valued at approximately $4,819,939.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Abercrombie & Fitch news, insider Kristin A. Scott sold 120,000 shares of Abercrombie & Fitch stock in a transaction on Friday, March 8th. The shares were sold at an average price of $126.15, for a total transaction of $15,138,000.00. Following the completion of the sale, the insider now owns 38,208 shares of the company’s stock, valued at approximately $4,819,939.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott D. Lipesky sold 35,000 shares of Abercrombie & Fitch stock in a transaction on 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 sale, the chief financial officer now directly owns 88,558 shares of the company’s stock, valued at approximately $11,330,996.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 558,786 shares of company stock valued at $64,340,812. Company insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

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% during the 3rd quarter. Trexquant Investment LP now owns 195,866 shares of the apparel retailer’s stock valued at $11,041,000 after purchasing an additional 152,907 shares in the last quarter. Dark Forest Capital Management LP bought a new position in Abercrombie & Fitch in the 3rd quarter worth $777,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Abercrombie & Fitch by 39.4% in 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 acquiring an additional 43,310 shares during the period. Teza Capital Management LLC bought a new position in Abercrombie & Fitch in the 3rd quarter worth $598,000. Finally, Jupiter Asset Management Ltd. bought a new position in Abercrombie & Fitch in 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.