UBS Group Issues Positive Forecast for Abercrombie & Fitch (NYSE:ANF) Stock Price

by · The Markets Daily

Abercrombie & Fitch (NYSE:ANF – Get Free Report) had its target price lifted by investment analysts at UBS Group from $170.00 to $173.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the apparel retailer’s stock. UBS Group’s target price suggests a potential upside of 18.25% from the stock’s current price.

Several other equities analysts have also weighed in on the company. Morgan Stanley lifted their price objective on Abercrombie & Fitch from $147.00 to $149.00 and gave the company an “equal weight” rating in a research note on Wednesday. Telsey Advisory Group reiterated an “outperform” rating and set a $190.00 price objective on shares of Abercrombie & Fitch in a research note on Tuesday. Citigroup raised shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 target price on the stock in a research note on Friday, August 30th. JPMorgan Chase & Co. increased their price target on Abercrombie & Fitch from $194.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Finally, Jefferies Financial Group boosted their price objective on Abercrombie & Fitch from $215.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $178.14.

View Our Latest Analysis on ANF

Abercrombie & Fitch Stock Performance

ANF stock traded down $0.32 on Wednesday, reaching $146.30. The company had a trading volume of 1,044,873 shares, compared to its average volume of 1,694,029. The company’s fifty day moving average is $143.13 and its 200 day moving average is $153.46. The company has a market cap of $7.47 billion, a P/E ratio of 15.50 and a beta of 1.50. Abercrombie & Fitch has a 1 year low of $74.68 and a 1 year high of $196.99.

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

Insider Activity at Abercrombie & Fitch

In other news, Director Helen Mccluskey sold 3,500 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $139.38, for a total transaction of $487,830.00. Following the transaction, the director now directly owns 37,470 shares in the company, valued at $5,222,568.60. The trade was a 8.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Scott D. Lipesky sold 9,000 shares of Abercrombie & Fitch stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the sale, the chief financial officer now owns 106,455 shares of the company’s stock, valued at approximately $15,627,594. This represents a 7.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,541 shares of company stock worth $4,310,256. 2.58% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position in Abercrombie & Fitch by 45.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 454,550 shares of the apparel retailer’s stock worth $56,969,000 after purchasing an additional 141,788 shares during the period. Comerica Bank raised its holdings in Abercrombie & Fitch by 34.3% in the 1st quarter. Comerica Bank now owns 57,699 shares of the apparel retailer’s stock worth $7,231,000 after acquiring an additional 14,736 shares during the period. Cetera Investment Advisers raised its holdings in Abercrombie & Fitch by 209.2% in the 1st quarter. Cetera Investment Advisers now owns 48,648 shares of the apparel retailer’s stock worth $6,097,000 after acquiring an additional 32,915 shares during the period. Cetera Advisors LLC acquired a new position in Abercrombie & Fitch during the 1st quarter worth $674,000. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in Abercrombie & Fitch by 64.4% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 26,944 shares of the apparel retailer’s stock valued at $3,377,000 after acquiring an additional 10,556 shares during the period.

About Abercrombie & Fitch

(Get Free Report)

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.

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