Morgan Stanley Raises Abercrombie & Fitch (NYSE:ANF) Price Target to $112.00

Abercrombie & Fitch (NYSE:ANF) had its price objective hoisted by Morgan Stanley from $103.00 to $112.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an equal weight rating on the apparel retailer’s stock.

A number of other equities research analysts also recently issued reports on the stock. Jefferies Financial Group increased their price target on shares of Abercrombie & Fitch from $149.00 to $155.00 and gave the stock a buy rating in a report on Wednesday, March 6th. Argus increased their price target on shares of Abercrombie & Fitch from $97.00 to $130.00 and gave the stock a buy rating in a report on Thursday, April 11th. Citigroup increased their price target on shares of Abercrombie & Fitch from $100.00 to $127.00 and gave the stock a neutral rating in a report on Tuesday, February 27th. UBS Group increased their price target on shares of Abercrombie & Fitch from $98.00 to $130.00 and gave the stock a neutral rating in a report on Monday, February 26th. Finally, Telsey Advisory Group reissued an outperform rating and issued a $152.00 price target (up from $140.00) on shares of Abercrombie & Fitch in a report on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $124.00.

Abercrombie & Fitch Price Performance

NYSE ANF opened at $128.62 on Monday. The company has a market cap of $6.57 billion, a PE ratio of 20.68 and a beta of 1.57. Abercrombie & Fitch has a 52 week low of $22.21 and a 52 week high of $140.28. The company has a quick ratio of 1.10, a current ratio of 1.59 and a debt-to-equity ratio of 0.21. The firm’s 50-day simple moving average is $123.78 and its two-hundred day simple moving average is $101.53.

Abercrombie & Fitch (NYSE:ANF) last released its quarterly earnings data on Wednesday, March 6th. The apparel retailer reported $2.97 EPS for the quarter, beating the consensus estimate of $2.83 by $0.14. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. Abercrombie & Fitch had a net margin of 7.67% and a return on equity of 38.80%. The company’s revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. Research analysts predict that Abercrombie & Fitch will post 7.48 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Kristin A. Scott sold 120,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $126.15, for a total value of $15,138,000.00. Following the transaction, the insider now directly owns 38,208 shares in the company, valued at $4,819,939.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Abercrombie & Fitch news, EVP Jay Rust sold 786 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $125.41, for a total transaction of $98,572.26. Following the transaction, the executive vice president now directly owns 1,014 shares in the company, valued at $127,165.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kristin A. Scott sold 120,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $126.15, for a total transaction of $15,138,000.00. Following the transaction, the insider now owns 38,208 shares in the company, valued at $4,819,939.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 558,786 shares of company stock worth $64,340,812. Insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Spire Wealth Management grew its position in Abercrombie & Fitch by 51.4% during the first quarter. Spire Wealth Management now owns 315 shares of the apparel retailer’s stock valued at $39,000 after acquiring an additional 107 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in shares of Abercrombie & Fitch in the fourth quarter worth approximately $33,000. GAMMA Investing LLC bought a new position in shares of Abercrombie & Fitch in the fourth quarter worth approximately $49,000. Daiwa Securities Group Inc. bought a new position in shares of Abercrombie & Fitch in the fourth quarter worth approximately $62,000. Finally, Castleview Partners LLC bought a new position in shares of Abercrombie & Fitch in the third quarter worth approximately $44,000.

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.