Raymond James Cuts Abercrombie & Fitch (NYSE:ANF) Price Target to $165.00

Abercrombie & Fitch (NYSE:ANF - Free Report) had its target price lowered by Raymond James from $180.00 to $165.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the apparel retailer's stock.

Several other analysts also recently commented on the stock. StockNews.com upgraded shares of Abercrombie & Fitch from a "hold" rating to a "buy" rating in a research report on Monday. UBS Group raised shares of Abercrombie & Fitch from a "neutral" rating to a "buy" rating and increased their price objective for the company from $173.00 to $220.00 in a report on Friday. JPMorgan Chase & Co. boosted their target price on shares of Abercrombie & Fitch from $201.00 to $204.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. Morgan Stanley raised their target price on shares of Abercrombie & Fitch from $147.00 to $149.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 27th. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $190.00 price target on shares of Abercrombie & Fitch in a research note on Tuesday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Abercrombie & Fitch currently has an average rating of "Moderate Buy" and an average price target of $183.50.

Abercrombie & Fitch Stock Down 3.1 %

Shares of Abercrombie & Fitch stock traded down $4.25 during trading hours on Tuesday, reaching $131.47. 3,402,628 shares of the stock traded hands, compared to its average volume of 2,744,428. Abercrombie & Fitch has a one year low of $95.51 and a one year high of $196.99. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 13.00 and a beta of 1.52. The company has a 50 day moving average price of $147.95 and a 200 day moving average price of $149.73.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last announced its earnings results on Tuesday, November 26th. The apparel retailer reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.18. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The firm's quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.83 earnings per share. Sell-side analysts anticipate that Abercrombie & Fitch will post 10.61 earnings per share for the current year.

Insider Activity

In related news, COO Scott D. Lipesky sold 8,605 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $150.20, for a total transaction of $1,292,471.00. Following the sale, the chief operating officer now owns 97,850 shares in the company, valued at approximately $14,697,070. This represents a 8.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Samir Desai sold 5,926 shares of Abercrombie & Fitch stock in a transaction on Friday, November 29th. The stock was sold at an average price of $148.51, for a total transaction of $880,070.26. Following the transaction, the executive vice president now directly owns 22,059 shares of the company's stock, valued at $3,275,982.09. The trade was a 21.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,401 shares of company stock worth $2,631,741. 2.58% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Abercrombie & Fitch

Several hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Abercrombie & Fitch by 5.5% during the third quarter. Geode Capital Management LLC now owns 1,221,890 shares of the apparel retailer's stock valued at $171,815,000 after buying an additional 63,157 shares during the period. Wellington Management Group LLP boosted its holdings in Abercrombie & Fitch by 25.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,017,720 shares of the apparel retailer's stock valued at $142,379,000 after acquiring an additional 204,901 shares during the period. Marshall Wace LLP grew its position in Abercrombie & Fitch by 16.0% in the 2nd quarter. Marshall Wace LLP now owns 873,148 shares of the apparel retailer's stock valued at $155,281,000 after acquiring an additional 120,509 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Abercrombie & Fitch by 7.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 870,143 shares of the apparel retailer's stock worth $121,733,000 after purchasing an additional 60,022 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of Abercrombie & Fitch by 3.0% during the third quarter. Fisher Asset Management LLC now owns 569,828 shares of the apparel retailer's stock worth $79,719,000 after purchasing an additional 16,754 shares during 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.