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

Abercrombie & Fitch (NYSE:ANF) had its price target cut by equities researchers at Morgan Stanley from $149.00 to $139.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the apparel retailer’s stock. Morgan Stanley’s target price would suggest a potential upside of 8.38% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on ANF. JPMorgan Chase & Co. lifted their price target on Abercrombie & Fitch from $201.00 to $204.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $190.00 target price on shares of Abercrombie & Fitch in a research note on Tuesday. StockNews.com upgraded Abercrombie & Fitch from a “hold” rating to a “buy” rating in a research report on Monday. Raymond James lowered their price target on Abercrombie & Fitch from $180.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, UBS Group raised shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $173.00 to $220.00 in a report on Friday, January 10th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $182.25.

Abercrombie & Fitch Price Performance

Shares of ANF opened at $128.25 on Wednesday. Abercrombie & Fitch has a 12 month low of $95.51 and a 12 month high of $196.99. The stock has a fifty day moving average price of $147.72 and a 200 day moving average price of $149.26. The company has a market cap of $6.46 billion, a P/E ratio of 12.69 and a beta of 1.52.

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

Insider Activity at Abercrombie & Fitch

In other Abercrombie & Fitch news, EVP Samir Desai sold 5,926 shares of the company’s stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Scott D. Lipesky sold 8,605 shares of the firm’s stock in a transaction on 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 sale, the chief operating officer now directly owns 97,850 shares of the company’s stock, valued at approximately $14,697,070. This represents a 8.08 % 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 over the last 90 days. 2.58% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Abercrombie & Fitch

A number of institutional investors have recently bought and sold shares of the stock. UMB Bank n.a. boosted its holdings in shares of Abercrombie & Fitch by 92.2% in the fourth quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer’s stock worth $33,000 after buying an additional 107 shares during the period. Farther Finance Advisors LLC raised its stake in Abercrombie & Fitch by 81.5% during 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 period. Private Trust Co. NA lifted its stake in Abercrombie & Fitch by 604.4% in the 3rd quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock worth $44,000 after acquiring an additional 272 shares in the last quarter. Quarry LP lifted 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 worth $50,000 after purchasing an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Abercrombie & Fitch by 39.2% in the 3rd quarter. GAMMA Investing LLC now owns 788 shares of the apparel retailer’s stock worth $110,000 after buying 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.