Abercrombie & Fitch (NYSE:ANF) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Abercrombie & Fitch (NYSE:ANF) from a hold rating to a buy rating in a research report released on Friday.

A number of other analysts have also recently commented on the stock. Telsey Advisory Group reissued an outperform rating and set a $152.00 target price (up previously from $140.00) on shares of Abercrombie & Fitch in a research note on Wednesday, March 6th. Argus boosted their price objective on Abercrombie & Fitch from $97.00 to $130.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Morgan Stanley raised their target price on Abercrombie & Fitch from $81.00 to $103.00 and gave the company an equal weight rating in a research report on Thursday, March 7th. Jefferies Financial Group boosted their price target on Abercrombie & Fitch from $149.00 to $155.00 and gave the stock a buy rating in a research report on Wednesday, March 6th. Finally, Citigroup raised their price objective on Abercrombie & Fitch from $100.00 to $127.00 and gave the company a neutral rating in a report on Tuesday, February 27th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Abercrombie & Fitch currently has a consensus rating of Moderate Buy and an average target price of $122.71.

Abercrombie & Fitch Stock Performance

ANF stock opened at $112.84 on Friday. The firm has a 50-day simple moving average of $122.78 and a two-hundred day simple moving average of $94.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.10 and a current ratio of 1.59. Abercrombie & Fitch has a one year low of $21.74 and a one year high of $140.28. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 18.14 and a beta of 1.58.

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

Insiders Place Their Bets

In other news, insider Kristin A. Scott sold 120,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $126.15, for a total transaction of $15,138,000.00. Following the transaction, the insider now owns 38,208 shares of the company’s stock, valued at approximately $4,819,939.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Jay Rust sold 786 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $125.41, for a total value of $98,572.26. Following the transaction, the executive vice president now owns 1,014 shares of the company’s stock, valued at approximately $127,165.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kristin A. Scott sold 120,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $126.15, for a total value of $15,138,000.00. Following the sale, 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. Over the last 90 days, insiders have sold 158,786 shares of company stock valued at $20,096,812. Insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Trexquant Investment LP raised its holdings in shares of Abercrombie & Fitch by 355.9% in the 3rd quarter. Trexquant Investment LP now owns 195,866 shares of the apparel retailer’s stock valued at $11,041,000 after buying an additional 152,907 shares during the period. Dark Forest Capital Management LP acquired a new stake in shares of Abercrombie & Fitch during the third quarter worth about $777,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Abercrombie & Fitch by 39.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 153,229 shares of the apparel retailer’s stock valued at $8,638,000 after purchasing an additional 43,310 shares during the period. Teza Capital Management LLC acquired a new position in shares of Abercrombie & Fitch in the third quarter valued at approximately $598,000. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Abercrombie & Fitch in the third quarter valued at approximately $782,000.

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.