Raymond James Cuts Abercrombie & Fitch (NYSE:ANF) Price Target to $165.00

Abercrombie & Fitch (NYSE:ANF) had its price target cut by Raymond James from $180.00 to $165.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the apparel retailer’s stock.

A number of other research analysts have also recently issued reports on ANF. StockNews.com raised Abercrombie & Fitch from a “hold” rating to a “buy” rating in a research note on Monday. Telsey Advisory Group reiterated an “outperform” rating and issued a $190.00 price objective on shares of Abercrombie & Fitch in a research report on Tuesday. Morgan Stanley raised their target price on shares of Abercrombie & Fitch from $147.00 to $149.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. lifted their price target 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. Finally, UBS Group raised shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $173.00 to $220.00 in a research report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Abercrombie & Fitch has a consensus rating of “Moderate Buy” and a consensus price target of $182.25.

Abercrombie & Fitch Price Performance

Shares of NYSE:ANF opened at $128.25 on Tuesday. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 12.69 and a beta of 1.52. The firm’s 50 day simple moving average is $147.72 and its 200 day simple moving average is $149.26. Abercrombie & Fitch has a fifty-two week low of $95.51 and a fifty-two week high of $196.99.

Abercrombie & Fitch (NYSE:ANF) last posted its earnings results on Tuesday, November 26th. The apparel retailer reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.18. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the business posted $1.83 earnings per share. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. Equities research analysts expect that Abercrombie & Fitch will post 10.63 earnings per share for the current year.

Insider Activity

In other news, COO Scott D. Lipesky sold 8,605 shares of the firm’s 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 owns 97,850 shares in the company, valued at $14,697,070. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Suzanne M. Coulter sold 2,870 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $160.00, for a total value of $459,200.00. Following the sale, the director now owns 6,405 shares in the company, valued at $1,024,800. The trade was a 30.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,401 shares of company stock worth $2,631,741 over the last ninety days. Insiders own 2.58% of the company’s stock.

Institutional Investors Weigh In On Abercrombie & Fitch

Large investors have recently made changes to their positions in the stock. Wolff Wiese Magana LLC raised its position in Abercrombie & Fitch by 6.5% during the third quarter. Wolff Wiese Magana LLC now owns 1,070 shares of the apparel retailer’s stock worth $150,000 after acquiring an additional 65 shares in the last quarter. Chartwell Investment Partners LLC grew its position in shares of Abercrombie & Fitch by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 9,445 shares of the apparel retailer’s stock valued at $1,322,000 after acquiring an additional 74 shares during the period. Atria Investments Inc increased its stake in shares of Abercrombie & Fitch by 5.4% during the 3rd quarter. Atria Investments Inc now owns 1,564 shares of the apparel retailer’s stock worth $219,000 after purchasing an additional 80 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Abercrombie & Fitch by 92.2% in the 4th quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 107 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake 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 purchasing an additional 123 shares during 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.