Abercrombie & Fitch (NYSE:ANF) Shares Gap Up – Here’s Why

Abercrombie & Fitch Co. (NYSE:ANF)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $141.57, but opened at $148.96. Abercrombie & Fitch shares last traded at $149.59, with a volume of 721,470 shares changing hands.

Analyst Upgrades and Downgrades

ANF has been the subject of several recent research reports. Morgan Stanley lowered their price target on Abercrombie & Fitch from $155.00 to $147.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. Jefferies Financial Group upped their price target 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. Citigroup upgraded Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Friday, August 30th. JPMorgan Chase & Co. lifted their price objective on Abercrombie & Fitch from $194.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Finally, UBS Group boosted their price target on Abercrombie & Fitch from $165.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Abercrombie & Fitch presently has an average rating of “Moderate Buy” and a consensus price target of $177.43.

Abercrombie & Fitch Trading Up 6.1 %

The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 15.85 and a beta of 1.50. The firm’s 50 day moving average price is $142.52 and its two-hundred day moving average price is $152.80.

Abercrombie & Fitch (NYSE:ANF) last announced its earnings results on Wednesday, August 28th. The apparel retailer reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.36. Abercrombie & Fitch had a return on equity of 47.35% and a net margin of 10.76%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.09 billion. As a group, equities research analysts predict that Abercrombie & Fitch Co. will post 10.35 EPS for the current year.

Insider Transactions at Abercrombie & Fitch

In other Abercrombie & Fitch news, EVP Samir Desai sold 19,041 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $131.36, for a total transaction of $2,501,225.76. Following the transaction, the executive vice president now directly owns 27,985 shares in the company, valued at $3,676,109.60. This trade represents a 40.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Scott D. Lipesky sold 9,000 shares of Abercrombie & Fitch stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the completion of the transaction, the chief financial officer now directly owns 106,455 shares in the company, valued at approximately $15,627,594. The trade was a 7.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,541 shares of company stock valued at $4,310,256 in the last quarter. Insiders own 2.58% of the company’s stock.

Hedge Funds Weigh In On Abercrombie & Fitch

Several large investors have recently made changes to their positions in ANF. Matrix Trust Co acquired a new stake in shares of Abercrombie & Fitch in the second quarter valued at about $35,000. Farther Finance Advisors LLC increased its stake in Abercrombie & Fitch by 81.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer’s stock worth $38,000 after buying an additional 123 shares in the last quarter. Quarry LP increased its stake in Abercrombie & Fitch by 156.0% during the 2nd quarter. Quarry LP now owns 279 shares of the apparel retailer’s stock worth $50,000 after buying an additional 170 shares in the last quarter. Private Trust Co. NA lifted its position in shares of Abercrombie & Fitch by 604.4% in the third quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock valued at $44,000 after acquiring an additional 272 shares in the last quarter. Finally, CWM LLC boosted its stake in Abercrombie & Fitch by 242.6% during the 2nd quarter. CWM LLC now owns 531 shares of the apparel retailer’s stock worth $94,000 after purchasing an additional 376 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.