Abercrombie & Fitch (NYSE:ANF) Price Target Cut to $147.00

Abercrombie & Fitch (NYSE:ANF) had its target price cut by Morgan Stanley from $155.00 to $147.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an equal weight rating on the apparel retailer’s stock.

Other equities analysts have also issued reports about the stock. Citigroup increased their target price on Abercrombie & Fitch from $150.00 to $190.00 and gave the stock a neutral rating in a report on Thursday, May 30th. Jefferies Financial Group lifted their target price on Abercrombie & Fitch from $155.00 to $215.00 and gave the company a buy rating in a research report on Wednesday, May 29th. JPMorgan Chase & Co. upgraded Abercrombie & Fitch from a neutral rating to an overweight rating and boosted their target price for the company from $167.00 to $194.00 in a research note on Monday, July 22nd. Argus downgraded shares of Abercrombie & Fitch from a buy rating to a hold rating in a report on Thursday, July 11th. Finally, UBS Group reduced their target price on shares of Abercrombie & Fitch from $193.00 to $165.00 and set a neutral rating for the company in a report on Thursday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $178.43.

Abercrombie & Fitch Trading Up 3.8 %

NYSE:ANF opened at $147.57 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.64 and a quick ratio of 1.15. The business’s 50-day simple moving average is $160.60 and its 200-day simple moving average is $145.36. Abercrombie & Fitch has a fifty-two week low of $49.24 and a fifty-two week high of $196.99. The stock has a market capitalization of $7.54 billion, a PE ratio of 18.35 and a beta of 1.54.

Abercrombie & Fitch (NYSE:ANF) last announced its quarterly earnings results on Wednesday, May 29th. The apparel retailer reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.48. Abercrombie & Fitch had a net margin of 9.53% and a return on equity of 44.83%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $967.37 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The business’s revenue was up 22.1% on a year-over-year basis. Sell-side analysts expect that Abercrombie & Fitch will post 9.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Abercrombie & Fitch news, Director Nigel Travis sold 7,700 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $173.66, for a total value of $1,337,182.00. Following the transaction, the director now directly owns 19,855 shares of the company’s stock, valued at approximately $3,448,019.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Nigel Travis sold 7,700 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $173.66, for a total value of $1,337,182.00. Following the completion of the sale, the director now owns 19,855 shares of the company’s stock, valued at $3,448,019.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kenneth B. Robinson sold 1,300 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $171.61, for a total transaction of $223,093.00. Following the transaction, the director now owns 5,880 shares in the company, valued at approximately $1,009,066.80. The disclosure for this sale can be found here. 3.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ANF. Sage Rhino Capital LLC grew its stake in Abercrombie & Fitch by 5.5% during the second quarter. Sage Rhino Capital LLC now owns 1,695 shares of the apparel retailer’s stock worth $301,000 after buying an additional 89 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Abercrombie & Fitch by 0.4% during the 4th quarter. Franklin Resources Inc. now owns 25,435 shares of the apparel retailer’s stock worth $2,244,000 after acquiring an additional 93 shares in the last quarter. Spire Wealth Management increased its stake in Abercrombie & Fitch by 51.4% in the first quarter. Spire Wealth Management now owns 315 shares of the apparel retailer’s stock valued at $39,000 after acquiring an additional 107 shares during the last quarter. Ritholtz Wealth Management lifted its stake in Abercrombie & Fitch by 3.6% during the second quarter. Ritholtz Wealth Management now owns 3,277 shares of the apparel retailer’s stock worth $583,000 after purchasing an additional 115 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in shares of Abercrombie & Fitch by 1.6% in the 4th quarter. National Bank of Canada FI now owns 8,587 shares of the apparel retailer’s stock valued at $780,000 after purchasing an additional 132 shares in the last quarter.

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.