Abercrombie & Fitch (NYSE:ANF) PT Raised to $44.00

Monday, April 19, 2021 | MarketBeat

Abercrombie & Fitch (NYSE:ANF) had its price objective hoisted by equities researchers at JPMorgan Chase & Co. from $37.00 to $44.00 in a research note issued on Monday, The Fly reports. The brokerage currently has a "neutral" rating on the apparel retailer's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 8.62% from the company's previous close.

A number of other research firms have also recently commented on ANF. Citigroup upped their price target on shares of Abercrombie & Fitch from $28.00 to $33.00 in a report on Wednesday, March 3rd. Telsey Advisory Group increased their price target on shares of Abercrombie & Fitch from $28.00 to $32.00 and gave the company an "outperform" rating in a research report on Wednesday, February 24th. UBS Group raised shares of Abercrombie & Fitch from a "neutral" rating to a "buy" rating in a research report on Tuesday, April 13th. Morgan Stanley raised their price target on shares of Abercrombie & Fitch from $14.00 to $22.00 and gave the stock an "underweight" rating in a research report on Wednesday, March 10th. Finally, B. Riley raised their price objective on shares of Abercrombie & Fitch from $38.00 to $46.00 and gave the stock a "buy" rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of "Hold" and an average price target of $29.92.

Shares of ANF opened at $40.51 on Monday. Abercrombie & Fitch has a twelve month low of $8.80 and a twelve month high of $41.08. The company has a market cap of $2.52 billion, a P/E ratio of -21.78 and a beta of 1.82. The company has a current ratio of 1.60, a quick ratio of 1.02 and a debt-to-equity ratio of 0.40. The company's fifty day simple moving average is $33.69 and its 200-day simple moving average is $23.76.

Abercrombie & Fitch (NYSE:ANF) last announced its earnings results on Monday, March 1st. The apparel retailer reported $1.50 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $1.22 by $0.28. Abercrombie & Fitch had a negative net margin of 3.55% and a negative return on equity of 6.61%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the firm posted $1.31 earnings per share. The business's revenue for the quarter was down 5.3% on a year-over-year basis. Analysts predict that Abercrombie & Fitch will post -1.11 earnings per share for the current fiscal year.

In other news, insider Kristin A. Scott sold 152,509 shares of the company's stock in a transaction on Monday, January 25th. The shares were sold at an average price of $25.00, for a total transaction of $3,812,725.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Suzanne M. Coulter bought 2,170 shares of the company's stock in a transaction dated Monday, March 15th. The shares were acquired at an average cost of $34.61 per share, with a total value of $75,103.70. Following the acquisition, the director now directly owns 2,170 shares of the company's stock, valued at $75,103.70. The disclosure for this purchase can be found here. 1.60% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in ANF. Morgan Stanley grew its holdings in shares of Abercrombie & Fitch by 313.6% during the fourth quarter. Morgan Stanley now owns 931,864 shares of the apparel retailer's stock worth $18,972,000 after buying an additional 706,577 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Abercrombie & Fitch by 124.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,194,108 shares of the apparel retailer's stock worth $24,311,000 after buying an additional 661,373 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Abercrombie & Fitch during the 4th quarter valued at about $10,435,000. Norges Bank acquired a new position in shares of Abercrombie & Fitch during the 4th quarter valued at about $8,403,000. Finally, Federated Hermes Inc. acquired a new position in shares of Abercrombie & Fitch during the 4th quarter valued at about $4,358,000. 98.55% of the stock is owned by institutional investors and hedge funds.

About Abercrombie & Fitch

Abercrombie & Fitch Co, through its subsidiaries, operates as a specialty retailer. The company operates in two segments, Hollister and Abercrombie. It offers an assortment of apparel, personal care products, intimates, and accessories for men, women, and children under the Hollister, Abercrombie & Fitch, abercrombie kids, Moose, Seagull, and Gilly Hicks brands.

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