Abercrombie & Fitch (NYSE:ANF) Coverage Initiated at Raymond James

Stock analysts at Raymond James began coverage on shares of Abercrombie & Fitch (NYSE:ANF) in a research note issued on Friday, MarketBeat.com reports. The firm set an “outperform” rating and a $180.00 price target on the apparel retailer’s stock. Raymond James’ target price would suggest a potential upside of 18.93% from the stock’s previous close.

Other analysts have also issued reports about the company. Citigroup raised Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 target price on the stock in a research report on Friday, August 30th. Morgan Stanley lifted their price target on Abercrombie & Fitch from $147.00 to $149.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. lifted their price target on Abercrombie & Fitch from $194.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Telsey Advisory Group reiterated an “outperform” rating and issued a $190.00 price target on shares of Abercrombie & Fitch in a research note on Tuesday, November 26th. Finally, UBS Group lifted their price target on Abercrombie & Fitch from $170.00 to $173.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $178.38.

Abercrombie & Fitch Stock Performance

Shares of NYSE ANF opened at $151.35 on Friday. Abercrombie & Fitch has a 1 year low of $76.82 and a 1 year high of $196.99. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 14.97 and a beta of 1.52. The stock’s 50-day simple moving average is $145.42 and its 200-day simple moving average is $154.26.

Abercrombie & Fitch (NYSE:ANF) last announced its earnings results on Tuesday, November 26th. The apparel retailer reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.18. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company earned $1.83 earnings per share. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, research analysts predict that Abercrombie & Fitch will post 10.52 EPS for the current year.

Insider Buying and Selling at Abercrombie & Fitch

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

Hedge Funds Weigh In On Abercrombie & Fitch

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its position in shares of Abercrombie & Fitch by 81.5% during the third quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer’s stock worth $38,000 after buying an additional 123 shares during the period. Private Trust Co. NA raised its holdings in Abercrombie & Fitch by 604.4% during the third quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock worth $44,000 after purchasing an additional 272 shares in the last quarter. Quarry LP raised its holdings in Abercrombie & Fitch by 156.0% during the second quarter. Quarry LP now owns 279 shares of the apparel retailer’s stock worth $50,000 after purchasing an additional 170 shares in the last quarter. CWM LLC raised its holdings in Abercrombie & Fitch by 242.6% during the second quarter. CWM LLC now owns 531 shares of the apparel retailer’s stock worth $94,000 after purchasing an additional 376 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings 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 purchasing an additional 222 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.