Morgan Stanley Lowers Abercrombie & Fitch (NYSE:ANF) Price Target to $139.00

Abercrombie & Fitch (NYSE:ANF) had its price objective decreased by equities researchers at Morgan Stanley from $149.00 to $139.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the apparel retailer’s stock. Morgan Stanley’s price objective points to a potential upside of 5.86% from the stock’s previous close.

ANF has been the topic of several other research reports. JPMorgan Chase & Co. boosted their target price on shares of Abercrombie & Fitch from $201.00 to $204.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. StockNews.com raised shares of Abercrombie & Fitch from a “hold” rating to a “buy” rating in a research note on Monday. Raymond James cut their price target on Abercrombie & Fitch from $180.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday. Telsey Advisory Group reissued an “outperform” rating and set a $190.00 price objective on shares of Abercrombie & Fitch in a report on Tuesday. Finally, UBS Group raised shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and raised their target price for the company from $173.00 to $220.00 in a research note on Friday, January 10th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $182.25.

Abercrombie & Fitch Price Performance

NYSE:ANF traded down $0.09 during trading hours on Wednesday, reaching $131.30. The company’s stock had a trading volume of 436,649 shares, compared to its average volume of 2,460,882. Abercrombie & Fitch has a one year low of $95.51 and a one year high of $196.99. The business’s 50-day moving average is $147.95 and its 200-day moving average is $149.73. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 12.99 and a beta of 1.52.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.18. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.83 earnings per share. On average, sell-side analysts predict that Abercrombie & Fitch will post 10.61 EPS for the current fiscal year.

Insider Transactions at Abercrombie & Fitch

In related news, EVP Samir Desai sold 5,926 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $148.51, for a total transaction of $880,070.26. Following the sale, the executive vice president now owns 22,059 shares in the company, valued at approximately $3,275,982.09. This represents a 21.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Suzanne M. Coulter sold 2,870 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $160.00, for a total value of $459,200.00. Following the completion of the transaction, the director now owns 6,405 shares of the company’s stock, valued at approximately $1,024,800. This represents a 30.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,401 shares of company stock valued at $2,631,741 in the last ninety days. 2.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Abercrombie & Fitch

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its position in shares of Abercrombie & Fitch by 81.5% in the third quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer’s stock valued at $38,000 after purchasing an additional 123 shares during the last quarter. Quarry LP raised its position in shares of Abercrombie & Fitch by 156.0% in the second quarter. Quarry LP now owns 279 shares of the apparel retailer’s stock valued at $50,000 after buying an additional 170 shares in the last quarter. Private Trust Co. NA boosted its stake in shares of Abercrombie & Fitch by 604.4% in the third quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock valued at $44,000 after buying an additional 272 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Abercrombie & Fitch by 8,914.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 631 shares of the apparel retailer’s stock worth $112,000 after buying an additional 624 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Abercrombie & Fitch by 39.2% during the third quarter. GAMMA Investing LLC now owns 788 shares of the apparel retailer’s stock worth $110,000 after acquiring an additional 222 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.