Abercrombie & Fitch (NYSE:ANF) Downgraded to Hold Rating by StockNews.com

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

ANF has been the subject of a number of other research reports. UBS Group boosted their price target on shares of Abercrombie & Fitch from $170.00 to $173.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Jefferies Financial Group upped their target price on shares of Abercrombie & Fitch from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Telsey Advisory Group restated an “outperform” rating and set a $190.00 price target on shares of Abercrombie & Fitch in a research report on Tuesday, November 26th. Raymond James assumed coverage on Abercrombie & Fitch in a research note on Friday, December 6th. They set an “outperform” rating and a $180.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on Abercrombie & Fitch from $201.00 to $204.00 and gave the company an “overweight” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $179.50.

Abercrombie & Fitch Price Performance

NYSE:ANF opened at $154.56 on Friday. Abercrombie & Fitch has a 1 year low of $86.91 and a 1 year high of $196.99. The business has a fifty day simple moving average of $146.19 and a two-hundred day simple moving average of $153.28. The company has a market capitalization of $7.79 billion, a P/E ratio of 15.29 and a beta of 1.52.

Abercrombie & Fitch (NYSE:ANF) last released its quarterly earnings data on Tuesday, November 26th. The apparel retailer reported $2.50 EPS for the quarter, topping the consensus estimate of $2.32 by $0.18. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the firm earned $1.83 EPS. Abercrombie & Fitch’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, analysts anticipate that Abercrombie & Fitch will post 10.61 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Scott D. Lipesky sold 8,605 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $150.20, for a total value of $1,292,471.00. Following the sale, the chief operating officer now owns 97,850 shares in the company, valued at $14,697,070. This represents a 8.08 % decrease in their position. The transaction was disclosed in a filing 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 shares were sold at an average price of $148.51, for a total value of $880,070.26. Following the transaction, the executive vice president now directly owns 22,059 shares of the company’s stock, valued at approximately $3,275,982.09. This trade represents a 21.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,401 shares of company stock valued at $2,631,741 over the last ninety days. Company insiders own 2.58% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ANF. DGS Capital Management LLC purchased a new position in shares of Abercrombie & Fitch in the third quarter worth $211,000. Retirement Systems of Alabama bought a new stake in Abercrombie & Fitch in the 3rd quarter worth about $8,685,000. Franklin Resources Inc. raised its position in Abercrombie & Fitch by 2.1% in the 3rd quarter. Franklin Resources Inc. now owns 48,338 shares of the apparel retailer’s stock worth $6,762,000 after buying an additional 976 shares during the last quarter. Tidal Investments LLC lifted its stake in Abercrombie & Fitch by 47.9% during the 3rd quarter. Tidal Investments LLC now owns 8,757 shares of the apparel retailer’s stock valued at $1,225,000 after acquiring an additional 2,835 shares during the period. Finally, Optimist Retirement Group LLC boosted its holdings in shares of Abercrombie & Fitch by 22.8% during the 3rd quarter. Optimist Retirement Group LLC now owns 1,708 shares of the apparel retailer’s stock valued at $239,000 after acquiring an additional 317 shares during the last quarter.

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.