StockNews.com Downgrades Abercrombie & Fitch (NYSE:ANF) to Hold

Abercrombie & Fitch (NYSE:ANF) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Other equities analysts have also recently issued reports about the company. Citigroup upgraded Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 target price for the company in a research report on Friday, August 30th. Morgan Stanley raised their target price on shares of Abercrombie & Fitch from $147.00 to $149.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. boosted their price target on shares of Abercrombie & Fitch from $201.00 to $204.00 and gave the stock an “overweight” rating in a research note on Friday. Jefferies Financial Group raised their price objective on shares of Abercrombie & Fitch from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, UBS Group increased their target price on Abercrombie & Fitch from $170.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.50.

Abercrombie & Fitch Stock Up 0.9 %

Shares of ANF opened at $154.56 on Friday. Abercrombie & Fitch has a twelve month low of $86.91 and a twelve month high of $196.99. The stock has a market cap of $7.79 billion, a PE ratio of 15.29 and a beta of 1.52. The business’s 50-day moving average price is $146.29 and its 200-day moving average price is $153.13.

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 business 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%. Abercrombie & Fitch’s revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.83 EPS. Analysts expect that Abercrombie & Fitch will post 10.61 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Suzanne M. Coulter sold 2,870 shares of Abercrombie & Fitch stock in a transaction 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 in the company, valued at $1,024,800. The trade was a 30.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Scott D. Lipesky sold 8,605 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $150.20, for a total transaction of $1,292,471.00. Following the completion of the sale, the chief operating officer now owns 97,850 shares of the company’s stock, valued at $14,697,070. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,401 shares of company stock valued at $2,631,741. Insiders own 2.58% of the company’s stock.

Hedge Funds Weigh In On Abercrombie & Fitch

Several institutional investors and hedge funds have recently modified their holdings of ANF. Farther Finance Advisors LLC lifted its holdings in Abercrombie & Fitch by 81.5% in the third quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer’s stock valued at $38,000 after acquiring an additional 123 shares during the period. Private Trust Co. NA boosted its holdings in shares of Abercrombie & Fitch by 604.4% in the third quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock worth $44,000 after buying an additional 272 shares during the last quarter. Quarry LP grew its position in Abercrombie & Fitch by 156.0% during the second quarter. Quarry LP now owns 279 shares of the apparel retailer’s stock valued at $50,000 after buying an additional 170 shares during the period. GAMMA Investing LLC increased its holdings in Abercrombie & Fitch by 39.2% during the third quarter. GAMMA Investing LLC now owns 788 shares of the apparel retailer’s stock valued at $110,000 after buying an additional 222 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in Abercrombie & Fitch by 8,914.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 631 shares of the apparel retailer’s stock worth $112,000 after acquiring an additional 624 shares during the period.

About Abercrombie & Fitch

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.