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

Abercrombie & Fitch (NYSE:ANF) had its price objective trimmed by Morgan Stanley from $149.00 to $139.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the apparel retailer’s stock.

Several other brokerages have also issued reports on ANF. Raymond James lowered their target price on Abercrombie & Fitch from $180.00 to $165.00 and set an “outperform” rating for the company in a research report on Tuesday. StockNews.com raised Abercrombie & Fitch from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. UBS Group raised shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and increased their target price for the company from $173.00 to $220.00 in a research report on Friday, January 10th. Telsey Advisory Group restated an “outperform” rating and issued a $190.00 price target on shares of Abercrombie & Fitch in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Abercrombie & Fitch from $201.00 to $204.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Abercrombie & Fitch presently has an average rating of “Moderate Buy” and a consensus target price of $182.25.

Abercrombie & Fitch Trading Up 1.7 %

NYSE:ANF opened at $130.34 on Wednesday. The stock’s 50-day moving average is $147.19 and its 200-day moving average is $148.74. Abercrombie & Fitch has a 1-year low of $95.51 and a 1-year high of $196.99. The stock has a market cap of $6.57 billion, a P/E ratio of 12.89 and a beta of 1.52.

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 analysts’ consensus estimates of $2.32 by $0.18. The firm had revenue of $1.21 billion for 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 revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.83 EPS. As a group, equities analysts forecast that Abercrombie & Fitch will post 10.63 EPS for the current year.

Insider Buying and Selling at Abercrombie & Fitch

In other Abercrombie & Fitch news, COO Scott D. Lipesky sold 8,605 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 97,850 shares in the company, valued at approximately $14,697,070. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Suzanne M. Coulter sold 2,870 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 of the company’s stock, valued at approximately $1,024,800. This represents a 30.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,401 shares of company stock valued at $2,631,741. Corporate insiders own 2.58% of the company’s stock.

Institutional Trading of Abercrombie & Fitch

Several hedge funds have recently bought and sold shares of ANF. Geode Capital Management LLC lifted its stake in shares of Abercrombie & Fitch by 5.5% in the third quarter. Geode Capital Management LLC now owns 1,221,890 shares of the apparel retailer’s stock valued at $171,815,000 after buying an additional 63,157 shares in the last quarter. Wellington Management Group LLP lifted its position in Abercrombie & Fitch by 25.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,017,720 shares of the apparel retailer’s stock valued at $142,379,000 after acquiring an additional 204,901 shares in the last quarter. Marshall Wace LLP boosted its stake in Abercrombie & Fitch by 16.0% during the 2nd quarter. Marshall Wace LLP now owns 873,148 shares of the apparel retailer’s stock valued at $155,281,000 after purchasing an additional 120,509 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Abercrombie & Fitch by 7.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 870,143 shares of the apparel retailer’s stock valued at $121,733,000 after buying an additional 60,022 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Abercrombie & Fitch by 3.0% during the 3rd quarter. Fisher Asset Management LLC now owns 569,828 shares of the apparel retailer’s stock worth $79,719,000 after acquiring an additional 16,754 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.