JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Abercrombie & Fitch (NYSE:ANF) Stock

Abercrombie & Fitch (NYSE:ANF) had its price target hoisted by JPMorgan Chase & Co. from $201.00 to $204.00 in a research note released on Friday, Marketbeat Ratings reports. The brokerage currently has an overweight rating on the apparel retailer’s stock.

Several other brokerages also recently commented on ANF. Raymond James assumed coverage on shares of Abercrombie & Fitch in a research report on Friday, December 6th. They issued an “outperform” rating and a $180.00 price target for the company. Jefferies Financial Group increased their target price on Abercrombie & Fitch from $215.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. UBS Group lifted their price target on Abercrombie & Fitch from $170.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Citigroup raised Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 price objective for the company in a research note on Friday, August 30th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $190.00 price objective on shares of Abercrombie & Fitch in a research report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Abercrombie & Fitch presently has a consensus rating of “Moderate Buy” and an average price target of $179.50.

Abercrombie & Fitch Stock Up 0.9 %

ANF opened at $154.56 on Friday. The business has a fifty day simple moving average of $146.29 and a 200-day simple moving average of $153.01. The firm has a market cap of $7.79 billion, a PE ratio of 15.29 and a beta of 1.52. Abercrombie & Fitch has a fifty-two week low of $86.91 and a fifty-two week high of $196.99.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly 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. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the business posted $1.83 EPS. Abercrombie & Fitch’s revenue was up 14.4% on a year-over-year basis. On average, equities research analysts anticipate that Abercrombie & Fitch will post 10.61 EPS for the current fiscal year.

Insider Buying and Selling

In other Abercrombie & Fitch news, Director Suzanne M. Coulter sold 2,870 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $160.00, for a total value of $459,200.00. Following the completion of the sale, the director now owns 6,405 shares of the company’s stock, valued at $1,024,800. The trade was a 30.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Samir Desai sold 5,926 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 22,059 shares of the company’s stock, valued at approximately $3,275,982.09. This trade represents a 21.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,401 shares of company stock worth $2,631,741. Insiders own 2.58% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ANF. Farther Finance Advisors LLC grew its holdings in Abercrombie & Fitch by 81.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer’s stock valued at $38,000 after buying an additional 123 shares during the last quarter. Private Trust Co. NA grew its holdings in shares of Abercrombie & Fitch by 604.4% during the 3rd quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock worth $44,000 after purchasing an additional 272 shares in the last quarter. Quarry LP increased its holdings in Abercrombie & Fitch by 156.0% in the 2nd 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 boosted its position in shares of Abercrombie & Fitch by 39.2% during the 3rd quarter. GAMMA Investing LLC now owns 788 shares of the apparel retailer’s stock valued at $110,000 after acquiring an additional 222 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake 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 valued at $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.