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

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

A number of other equities research analysts have also recently commented on the stock. Citigroup increased their target price 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. UBS Group increased their target price on shares of Abercrombie & Fitch from $98.00 to $130.00 and gave the company a neutral rating in a research report on Monday, February 26th. Morgan Stanley increased their target price on shares of Abercrombie & Fitch from $81.00 to $103.00 and gave the company an equal weight rating in a research report on Thursday, March 7th. Telsey Advisory Group reiterated an outperform rating and issued a $152.00 target price (up from $140.00) on shares of Abercrombie & Fitch in a research report on Wednesday, March 6th. Finally, StockNews.com cut shares of Abercrombie & Fitch from a buy rating to a hold rating in a research report on Thursday, April 4th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Abercrombie & Fitch currently has an average rating of Moderate Buy and a consensus price target of $122.71.

Abercrombie & Fitch Stock Performance

NYSE:ANF opened at $111.83 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.10 and a current ratio of 1.59. The company has a fifty day moving average of $122.65 and a two-hundred day moving average of $94.11. The stock has a market capitalization of $5.71 billion, a PE ratio of 17.98 and a beta of 1.58. Abercrombie & Fitch has a fifty-two week low of $21.74 and a fifty-two week high of $140.28.

Abercrombie & Fitch (NYSE:ANF) last posted its quarterly earnings data on Wednesday, March 6th. The apparel retailer reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.14. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Abercrombie & Fitch had a net margin of 7.67% and a return on equity of 38.80%. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 earnings per share. As a group, research analysts forecast that Abercrombie & Fitch will post 7.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Abercrombie & Fitch news, EVP Jay Rust sold 786 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $125.41, for a total transaction of $98,572.26. Following the completion of the transaction, the executive vice president now owns 1,014 shares of the company’s stock, valued at $127,165.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Abercrombie & Fitch news, CFO Scott D. Lipesky sold 35,000 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $127.95, for a total transaction of $4,478,250.00. Following the completion of the transaction, the chief financial officer now owns 88,558 shares of the company’s stock, valued at $11,330,996.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jay Rust sold 786 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $125.41, for a total transaction of $98,572.26. Following the completion of the transaction, the executive vice president now directly owns 1,014 shares of the company’s stock, valued at approximately $127,165.74. The disclosure for this sale can be found here. Insiders sold a total of 158,786 shares of company stock valued at $20,096,812 over the last 90 days. 3.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ANF. FMR LLC boosted its stake in shares of Abercrombie & Fitch by 12,439.3% in the third quarter. FMR LLC now owns 5,313,894 shares of the apparel retailer’s stock valued at $299,544,000 after purchasing an additional 5,271,516 shares during the period. Schonfeld Strategic Advisors LLC boosted its stake in shares of Abercrombie & Fitch by 172.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 1,843,459 shares of the apparel retailer’s stock valued at $42,234,000 after purchasing an additional 1,165,872 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Abercrombie & Fitch by 101.6% in the fourth quarter. Pacer Advisors Inc. now owns 1,352,169 shares of the apparel retailer’s stock valued at $119,288,000 after purchasing an additional 681,375 shares during the period. Millennium Management LLC boosted its stake in shares of Abercrombie & Fitch by 149.9% in the second quarter. Millennium Management LLC now owns 1,121,848 shares of the apparel retailer’s stock valued at $18,982,000 after purchasing an additional 672,933 shares during the period. Finally, Balyasny Asset Management LLC boosted its stake in shares of Abercrombie & Fitch by 48.4% in the third quarter. Balyasny Asset Management LLC now owns 1,811,477 shares of the apparel retailer’s stock valued at $28,168,000 after purchasing an additional 590,747 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.