Abercrombie & Fitch (NYSE:ANF) Upgraded to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Abercrombie & Fitch (NYSE:ANF) from a neutral rating to an overweight rating in a research report sent to investors on Monday morning, Marketbeat.com reports. They currently have $194.00 price objective on the apparel retailer’s stock, up from their prior price objective of $167.00.

Other analysts have also recently issued reports about the stock. Citigroup upped their price target on shares of Abercrombie & Fitch from $150.00 to $190.00 and gave the company a neutral rating in a report on Thursday, May 30th. Argus cut shares of Abercrombie & Fitch from a buy rating to a hold rating in a report on Thursday, July 11th. StockNews.com raised shares of Abercrombie & Fitch from a hold rating to a buy rating in a report on Friday, April 12th. Telsey Advisory Group reaffirmed an outperform rating and issued a $152.00 price target on shares of Abercrombie & Fitch in a report on Wednesday, May 29th. Finally, UBS Group increased their target price on shares of Abercrombie & Fitch from $155.00 to $193.00 and gave the stock a neutral rating in a report on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $178.00.

Abercrombie & Fitch Trading Down 4.6 %

NYSE ANF opened at $154.05 on Monday. The company’s fifty day simple moving average is $169.79 and its 200-day simple moving average is $136.13. Abercrombie & Fitch has a 52 week low of $36.78 and a 52 week high of $196.99. The company has a current ratio of 1.64, a quick ratio of 1.15 and a debt-to-equity ratio of 0.20. The stock has a market cap of $7.87 billion, a P/E ratio of 19.16 and a beta of 1.54.

Abercrombie & Fitch (NYSE:ANF) last posted its earnings results on Wednesday, May 29th. The apparel retailer reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.48. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $967.37 million. Abercrombie & Fitch had a net margin of 9.53% and a return on equity of 44.83%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 earnings per share. Equities research analysts predict that Abercrombie & Fitch will post 9.25 EPS for the current fiscal year.

Insider Transactions at Abercrombie & Fitch

In other news, Director Kenneth B. Robinson sold 1,300 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $171.61, for a total transaction of $223,093.00. Following the completion of the transaction, the director now owns 5,880 shares in the company, valued at $1,009,066.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Scott D. Lipesky sold 9,000 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $176.48, for a total value of $1,588,320.00. Following the completion of the transaction, the chief financial officer now owns 115,455 shares in the company, valued at approximately $20,375,498.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth B. Robinson sold 1,300 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $171.61, for a total transaction of $223,093.00. Following the completion of the transaction, the director now owns 5,880 shares of the company’s stock, valued at approximately $1,009,066.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,120 shares of company stock worth $3,875,693. Insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Abercrombie & Fitch

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Legacy Capital Group California Inc. acquired a new stake in Abercrombie & Fitch in the 4th quarter valued at about $1,125,000. Natixis Advisors L.P. acquired a new stake in Abercrombie & Fitch in the 4th quarter valued at about $988,000. GSA Capital Partners LLP acquired a new stake in Abercrombie & Fitch in the 1st quarter valued at about $585,000. Mission Wealth Management LP acquired a new stake in Abercrombie & Fitch in the 1st quarter valued at about $606,000. Finally, Vanguard Group Inc. lifted its holdings in Abercrombie & Fitch by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 6,191,102 shares of the apparel retailer’s stock valued at $348,992,000 after acquiring an additional 146,384 shares during 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.