StockNews.com Upgrades Abercrombie & Fitch (NYSE:ANF) to "Buy"

Abercrombie & Fitch (NYSE:ANF - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Monday.

A number of other equities research analysts also recently issued reports on ANF. UBS Group upgraded Abercrombie & Fitch from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $173.00 to $220.00 in a research report on Friday. Morgan Stanley lifted their target price on shares of Abercrombie & Fitch from $147.00 to $149.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. increased their price target on shares of Abercrombie & Fitch from $201.00 to $204.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. Telsey Advisory Group reiterated an "outperform" rating and issued a $190.00 price objective on shares of Abercrombie & Fitch in a report on Tuesday, November 26th. Finally, Raymond James initiated coverage on Abercrombie & Fitch in a research report on Friday, December 6th. They set an "outperform" rating and a $180.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Abercrombie & Fitch presently has an average rating of "Moderate Buy" and a consensus target price of $185.38.

Abercrombie & Fitch Trading Down 15.7 %

NYSE:ANF traded down $25.31 on Monday, reaching $135.61. 8,787,987 shares of the stock traded hands, compared to its average volume of 2,646,647. The company's 50 day moving average is $147.95 and its 200-day moving average is $149.73. Abercrombie & Fitch has a 1-year low of $95.51 and a 1-year high of $196.99. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 13.41 and a beta of 1.52.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.18. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the company earned $1.83 earnings per share. The company's quarterly revenue was up 14.4% on a year-over-year basis. On average, equities research analysts forecast that Abercrombie & Fitch will post 10.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other Abercrombie & Fitch news, Director Suzanne M. Coulter sold 2,870 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $160.00, for a total value of $459,200.00. Following the transaction, the director now directly owns 6,405 shares in the company, valued at $1,024,800. This represents a 30.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Samir Desai sold 5,926 shares of the firm's stock in a transaction that occurred 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 owns 22,059 shares in the company, valued at approximately $3,275,982.09. This trade represents a 21.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,401 shares of company stock valued at $2,631,741. 2.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ANF. Harbor Capital Advisors Inc. lifted its position in Abercrombie & Fitch by 58.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 40,721 shares of the apparel retailer's stock worth $6,087,000 after acquiring an additional 14,968 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Abercrombie & Fitch by 15.9% during the fourth quarter. Diversified Trust Co now owns 8,183 shares of the apparel retailer's stock valued at $1,223,000 after buying an additional 1,122 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Abercrombie & Fitch by 17.5% in the fourth quarter. Nordea Investment Management AB now owns 26,756 shares of the apparel retailer's stock worth $4,024,000 after purchasing an additional 3,978 shares during the period. Everence Capital Management Inc. acquired a new position in shares of Abercrombie & Fitch during the 4th quarter valued at $212,000. Finally, GAMMA Investing LLC lifted its stake in Abercrombie & Fitch by 34.0% during the fourth quarter. GAMMA Investing LLC now owns 1,056 shares of the apparel retailer's stock valued at $158,000 after purchasing an additional 268 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.