UBS Group Forecasts Strong Price Appreciation for Abercrombie & Fitch (NYSE:ANF) Stock

Abercrombie & Fitch (NYSE:ANF) had its price objective raised by research analysts at UBS Group from $170.00 to $173.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the apparel retailer’s stock. UBS Group’s target price indicates a potential upside of 18.25% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Morgan Stanley boosted their price target on shares of Abercrombie & Fitch from $147.00 to $149.00 and gave the company an “equal weight” rating in a research report on Wednesday. Telsey Advisory Group restated an “outperform” rating and set a $190.00 price target on shares of Abercrombie & Fitch in a research report on Tuesday. Citigroup upgraded Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 price objective for the company in a research report on Friday, August 30th. JPMorgan Chase & Co. increased their target price on Abercrombie & Fitch from $194.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Finally, Jefferies Financial Group boosted their target price on shares of 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 issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $178.14.

Abercrombie & Fitch Stock Down 0.2 %

Abercrombie & Fitch stock traded down $0.32 during mid-day trading 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. Abercrombie & Fitch has a 52 week low of $74.68 and a 52 week high of $196.99. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 15.50 and a beta of 1.50. The company has a 50 day moving average of $143.13 and a 200-day moving average of $153.46.

Abercrombie & Fitch (NYSE:ANF) last issued its earnings results on Tuesday, November 26th. The apparel retailer reported $2.50 EPS for the quarter, topping the consensus estimate of $2.31 by $0.19. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Abercrombie & Fitch had a return on equity of 47.35% and a net margin of 10.76%. Abercrombie & Fitch’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the business earned $1.83 earnings per share. On average, analysts predict that Abercrombie & Fitch will post 10.35 earnings per share for the current fiscal year.

Insider Activity at Abercrombie & Fitch

In other Abercrombie & Fitch news, Director Helen Mccluskey sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $139.38, for a total value of $487,830.00. Following the sale, the director now owns 37,470 shares in the company, valued at approximately $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 accessible through this link. Also, EVP Samir Desai sold 19,041 shares of Abercrombie & Fitch stock in a transaction on Friday, September 6th. The shares were sold at an average price of $131.36, for a total transaction of $2,501,225.76. Following the completion of the sale, the executive vice president now owns 27,985 shares in the company, valued at $3,676,109.60. The trade was a 40.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,541 shares of company stock worth $4,310,256 in the last ninety days. Company insiders own 2.58% of the company’s stock.

Hedge Funds Weigh In On Abercrombie & Fitch

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Westfield Capital Management Co. LP bought a new stake in shares of Abercrombie & Fitch in the 3rd quarter valued at about $73,048,000. Renaissance Technologies LLC lifted its position in shares of Abercrombie & Fitch by 146.3% in the second quarter. Renaissance Technologies LLC now owns 863,100 shares of the apparel retailer’s stock valued at $153,494,000 after buying an additional 512,700 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Abercrombie & Fitch by 2,036.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 419,560 shares of the apparel retailer’s stock worth $74,615,000 after acquiring an additional 399,922 shares during the period. Driehaus Capital Management LLC increased its holdings in shares of Abercrombie & Fitch by 283.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 303,896 shares of the apparel retailer’s stock worth $54,045,000 after acquiring an additional 224,555 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in Abercrombie & Fitch by 293.7% in the 2nd quarter. Bank of Montreal Can now owns 286,434 shares of the apparel retailer’s stock valued at $51,043,000 after acquiring an additional 213,684 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.