Argus Raises Abercrombie & Fitch (NYSE:ANF) Price Target to $130.00

Abercrombie & Fitch (NYSE:ANF) had its price objective boosted by Argus from $97.00 to $130.00 in a research note released on Thursday morning, Benzinga reports. Argus currently has a buy rating on the apparel retailer’s stock.

Several other analysts also recently commented on the stock. Citigroup raised their price objective on shares of Abercrombie & Fitch from $100.00 to $127.00 and gave the company a neutral rating in a research report on Tuesday, February 27th. Telsey Advisory Group reiterated an outperform rating and issued a $152.00 price target (up from $140.00) on shares of Abercrombie & Fitch in a report on Wednesday, March 6th. UBS Group lifted their price target on shares of Abercrombie & Fitch from $98.00 to $130.00 and gave the company a neutral rating in a report on Monday, February 26th. Jefferies Financial Group lifted their price target on shares of Abercrombie & Fitch from $149.00 to $155.00 and gave the company a buy rating in a report on Wednesday, March 6th. Finally, Morgan Stanley lifted their price target on shares of Abercrombie & Fitch from $81.00 to $103.00 and gave the company an equal weight rating in a report on Thursday, March 7th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $122.71.

Abercrombie & Fitch Stock Down 4.0 %

Shares of ANF stock opened at $111.83 on Thursday. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 17.98 and a beta of 1.58. Abercrombie & Fitch has a one year low of $21.74 and a one year high of $140.28. The company’s fifty day moving average price is $122.65 and its 200-day moving average price is $94.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.59 and a quick ratio of 1.10.

Abercrombie & Fitch (NYSE:ANF) last announced its quarterly earnings data on Wednesday, March 6th. The apparel retailer reported $2.97 EPS for the quarter, beating the consensus estimate of $2.83 by $0.14. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. Abercrombie & Fitch had a net margin of 7.67% and a return on equity of 38.80%. The company’s revenue was up 21.1% on a year-over-year basis. During the same period last year, the firm earned $0.81 EPS. Sell-side analysts expect that Abercrombie & Fitch will post 7.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other Abercrombie & Fitch news, CFO Scott D. Lipesky sold 35,000 shares of Abercrombie & Fitch stock in a transaction on Friday, March 8th. The shares were sold at an average price of $127.95, for a total value of $4,478,250.00. Following the completion of the transaction, the chief financial officer now directly owns 88,558 shares of the company’s stock, valued at approximately $11,330,996.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Abercrombie & Fitch news, CFO Scott D. Lipesky sold 35,000 shares of Abercrombie & Fitch stock in a transaction on Friday, March 8th. The shares were sold at an average price of $127.95, for a total value of $4,478,250.00. Following the completion of the transaction, the chief financial officer now directly owns 88,558 shares of the company’s stock, valued at approximately $11,330,996.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kristin A. Scott sold 120,000 shares of Abercrombie & Fitch stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $126.15, for a total transaction of $15,138,000.00. Following the transaction, the insider now directly owns 38,208 shares of the company’s stock, valued at $4,819,939.20. The disclosure for this sale can be found here. Insiders sold 158,786 shares of company stock valued at $20,096,812 in the last three months. Corporate insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Abercrombie & Fitch

A number of large investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Abercrombie & Fitch by 2.2% during the 1st quarter. BlackRock Inc. now owns 8,299,726 shares of the apparel retailer’s stock worth $230,317,000 after purchasing an additional 177,790 shares during the period. Vanguard Group Inc. boosted its stake in shares of Abercrombie & Fitch by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,191,102 shares of the apparel retailer’s stock worth $348,992,000 after purchasing an additional 146,384 shares during the period. FMR LLC boosted its position in Abercrombie & Fitch by 12,439.3% in the 3rd quarter. FMR LLC now owns 5,313,894 shares of the apparel retailer’s stock valued at $299,544,000 after buying an additional 5,271,516 shares during the period. Dimensional Fund Advisors LP boosted its position in Abercrombie & Fitch by 3.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,271,987 shares of the apparel retailer’s stock valued at $90,794,000 after buying an additional 120,670 shares during the period. Finally, State Street Corp boosted its position in Abercrombie & Fitch by 2.1% in the 1st quarter. State Street Corp now owns 2,121,400 shares of the apparel retailer’s stock valued at $58,869,000 after buying an additional 44,221 shares during the period.

Abercrombie & Fitch Company Profile

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.