JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Abercrombie & Fitch (NYSE:ANF) Stock

Abercrombie & Fitch (NYSE:ANF) had its price target boosted by research analysts at JPMorgan Chase & Co. from $201.00 to $204.00 in a research note issued on Friday, MarketBeat Ratings reports. The firm presently has an “overweight” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 31.99% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. Citigroup upgraded shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 price target on the stock in a research report on Friday, August 30th. Morgan Stanley upped their price target on Abercrombie & Fitch from $147.00 to $149.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Jefferies Financial Group lifted their price objective on Abercrombie & Fitch from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Telsey Advisory Group restated an “outperform” rating and issued a $190.00 target price on shares of Abercrombie & Fitch in a report 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 report on Wednesday, November 27th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $179.50.

Abercrombie & Fitch Trading Up 0.9 %

Shares of Abercrombie & Fitch stock opened at $154.56 on Friday. Abercrombie & Fitch has a twelve month low of $86.91 and a twelve month high of $196.99. The firm’s 50-day moving average price is $146.29 and its 200 day moving average price is $153.13. The firm has a market capitalization of $7.79 billion, a PE ratio of 15.29 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.18. The firm had revenue of $1.21 billion for 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 business’s revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the company posted $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 Buying and Selling at Abercrombie & Fitch

In other Abercrombie & Fitch news, COO Scott D. Lipesky sold 8,605 shares of Abercrombie & Fitch stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $150.20, for a total value of $1,292,471.00. Following the completion of the transaction, the chief operating officer now directly owns 97,850 shares of the company’s stock, valued at $14,697,070. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Samir Desai sold 5,926 shares of the business’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 $3,275,982.09. This trade 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 three months. Insiders own 2.58% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its position in Abercrombie & Fitch by 81.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer’s stock valued at $38,000 after buying an additional 123 shares during the period. Private Trust Co. NA boosted its holdings in 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 purchasing an additional 272 shares during the period. Quarry LP boosted its holdings in 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 purchasing an additional 170 shares during the period. GAMMA Investing LLC grew its stake in Abercrombie & Fitch by 39.2% during the 3rd 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. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Abercrombie & Fitch by 8,914.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 631 shares of the apparel retailer’s stock worth $112,000 after purchasing an additional 624 shares during the period.

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.