Morgan Stanley Raises Abercrombie & Fitch (ANF) Price Target to $14.00

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Abercrombie & Fitch (NYSE:ANF) had its price objective upped by research analysts at Morgan Stanley from $13.00 to $14.00 in a research report issued on Tuesday. The firm presently has an “underweight” rating on the apparel retailer’s stock. Morgan Stanley’s price objective would indicate a potential downside of 37.89% from the stock’s previous close.

ANF has been the subject of several other research reports. TheStreet upgraded shares of Abercrombie & Fitch from a “c” rating to a “b-” rating in a research note on Thursday, May 17th. Zacks Investment Research upgraded shares of Abercrombie & Fitch from a “hold” rating to a “strong-buy” rating and set a $31.00 price target for the company in a research note on Monday, August 13th. William Blair downgraded shares of Abercrombie & Fitch from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 30th. JPMorgan Chase & Co. dropped their price target on shares of Abercrombie & Fitch from $23.00 to $22.00 and set an “underweight” rating for the company in a research note on Monday, June 4th. Finally, ValuEngine downgraded shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research note on Thursday, August 30th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. Abercrombie & Fitch has an average rating of “Hold” and an average target price of $21.88.

Abercrombie & Fitch stock opened at $22.54 on Tuesday. Abercrombie & Fitch has a fifty-two week low of $11.61 and a fifty-two week high of $29.69. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.25 and a quick ratio of 1.67. The company has a market capitalization of $1.47 billion, a P/E ratio of 18.36, a P/E/G ratio of 2.17 and a beta of 0.44.

Abercrombie & Fitch (NYSE:ANF) last posted its earnings results on Thursday, August 30th. The apparel retailer reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.10. Abercrombie & Fitch had a net margin of 1.05% and a return on equity of 7.02%. The firm had revenue of $842.41 million during the quarter, compared to the consensus estimate of $845.11 million. During the same quarter last year, the firm earned ($0.16) EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. sell-side analysts expect that Abercrombie & Fitch will post 0.76 EPS for the current year.

In other news, insider Stacia J.P. Andersen sold 28,000 shares of Abercrombie & Fitch stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $27.55, for a total transaction of $771,400.00. Following the completion of the sale, the insider now directly owns 18,251 shares of the company’s stock, valued at approximately $502,815.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.95% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in ANF. Tower Research Capital LLC TRC purchased a new stake in shares of Abercrombie & Fitch during the 2nd quarter worth $190,000. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of Abercrombie & Fitch during the 1st quarter worth $201,000. CIBC Asset Management Inc purchased a new stake in shares of Abercrombie & Fitch during the 1st quarter worth $207,000. CMT Capital Markets Trading GmbH lifted its position in shares of Abercrombie & Fitch by 113.1% during the 1st quarter. CMT Capital Markets Trading GmbH now owns 9,200 shares of the apparel retailer’s stock worth $223,000 after purchasing an additional 79,200 shares during the last quarter. Finally, Xact Kapitalforvaltning AB purchased a new stake in shares of Abercrombie & Fitch during the 1st quarter worth $228,000.

Abercrombie & Fitch Company Profile

Abercrombie & Fitch Co, through its subsidiaries, operates as a specialty retailer. The Company operates in two segments, Hollister and Abercrombie. It offers apparel, intimates, personal care products, and accessories for men, women, and kids under the Hollister, Abercrombie & Fitch, abercrombie kids, and Gilly Hicks brand names.

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Analyst Recommendations for Abercrombie & Fitch (NYSE:ANF)

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