Abercrombie & Fitch (NYSE:ANF) Receives “Outperform” Rating from Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of Abercrombie & Fitch (NYSE:ANF) in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a $190.00 target price on the apparel retailer’s stock.

Several other research analysts also recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Abercrombie & Fitch from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on shares of Abercrombie & Fitch from $194.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Jefferies Financial Group raised their price target on shares of Abercrombie & Fitch from $215.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. UBS Group upped their price objective on Abercrombie & Fitch from $165.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Finally, Citigroup raised Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 target price for the company in a research note on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

Abercrombie & Fitch Trading Down 5.0 %

ANF stock opened at $146.70 on Tuesday. Abercrombie & Fitch has a 1-year low of $72.98 and a 1-year high of $196.99. The business’s 50 day moving average is $143.13 and its 200-day moving average is $153.46. The firm has a market cap of $7.49 billion, a P/E ratio of 15.53 and a beta of 1.50.

Abercrombie & Fitch (NYSE:ANF) last released its quarterly earnings data on Tuesday, November 26th. The apparel retailer reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.19. Abercrombie & Fitch had a return on equity of 47.35% and a net margin of 10.76%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the company posted $1.83 earnings per share. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. Sell-side analysts forecast that Abercrombie & Fitch will post 10.35 EPS for the current year.

Insider Activity

In related news, EVP Samir Desai sold 19,041 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $131.36, for a total transaction of $2,501,225.76. Following the sale, the executive vice president now directly owns 27,985 shares in the company, valued at $3,676,109.60. This trade represents a 40.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Helen Mccluskey sold 3,500 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $139.38, for a total transaction of $487,830.00. Following the completion of the transaction, the director now directly owns 37,470 shares of the company’s stock, valued at approximately $5,222,568.60. The trade was a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,541 shares of company stock worth $4,310,256 in the last 90 days. Corporate insiders own 2.58% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Westfield Capital Management Co. LP acquired a new position in Abercrombie & Fitch during the 3rd quarter worth approximately $73,048,000. Renaissance Technologies LLC lifted its position in shares of Abercrombie & Fitch by 146.3% in the second quarter. Renaissance Technologies LLC now owns 863,100 shares of the apparel retailer’s stock worth $153,494,000 after purchasing an additional 512,700 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Abercrombie & Fitch by 2,036.5% during the second quarter. Assenagon Asset Management S.A. now owns 419,560 shares of the apparel retailer’s stock worth $74,615,000 after purchasing an additional 399,922 shares during the last quarter. Driehaus Capital Management LLC grew its position in Abercrombie & Fitch by 283.0% in the second quarter. Driehaus Capital Management LLC now owns 303,896 shares of the apparel retailer’s stock valued at $54,045,000 after purchasing an additional 224,555 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in Abercrombie & Fitch by 293.7% in the 2nd quarter. Bank of Montreal Can now owns 286,434 shares of the apparel retailer’s stock valued at $51,043,000 after buying an additional 213,684 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.