Abercrombie & Fitch (NYSE:ANF) Upgraded by UBS Group to Buy Rating

UBS Group upgraded shares of Abercrombie & Fitch (NYSE:ANF) from a neutral rating to a buy rating in a research report released on Friday, Marketbeat Ratings reports. UBS Group currently has $220.00 price target on the apparel retailer’s stock, up from their previous price target of $173.00.

Other analysts also recently issued reports about the company. StockNews.com downgraded Abercrombie & Fitch from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Morgan Stanley raised their price objective on Abercrombie & Fitch from $147.00 to $149.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Raymond James initiated coverage on Abercrombie & Fitch in a report on Friday, December 6th. They issued an “outperform” rating and a $180.00 target price on the stock. 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 report on Friday, December 20th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $190.00 price objective on shares of Abercrombie & Fitch in a research report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $185.38.

Abercrombie & Fitch Trading Up 6.5 %

Abercrombie & Fitch stock opened at $161.54 on Friday. The stock has a 50-day moving average price of $147.39 and a two-hundred day moving average price of $150.37. Abercrombie & Fitch has a 12 month low of $95.47 and a 12 month high of $196.99. The company has a market capitalization of $8.14 billion, a PE ratio of 15.98 and a beta of 1.52.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings data on Tuesday, November 26th. The apparel retailer reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.18. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the business earned $1.83 EPS. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. As a group, analysts predict that Abercrombie & Fitch will post 10.61 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Samir Desai sold 5,926 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $148.51, for a total value of $880,070.26. Following the sale, the executive vice president now owns 22,059 shares in the company, valued at $3,275,982.09. This represents a 21.18 % decrease in their position. 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 Abercrombie & Fitch stock in a transaction dated Friday, November 29th. The shares were 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 of the company’s stock, valued at $14,697,070. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,401 shares of company stock worth $2,631,741 in the last three months. Company insiders own 2.58% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ANF. Farther Finance Advisors LLC raised its position 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 stake in shares of Abercrombie & Fitch by 604.4% in the 3rd quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock worth $44,000 after acquiring an additional 272 shares in the last quarter. Quarry LP raised its holdings in shares of Abercrombie & Fitch by 156.0% in the second quarter. Quarry LP now owns 279 shares of the apparel retailer’s stock valued at $50,000 after purchasing an additional 170 shares during the last quarter. GAMMA Investing LLC boosted 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 worth $110,000 after purchasing an additional 222 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Abercrombie & Fitch by 8,914.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 631 shares of the apparel retailer’s stock worth $112,000 after purchasing an additional 624 shares in the last quarter.

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.