Abercrombie & Fitch (NYSE:ANF) Shares Up 6% – Here’s What Happened

Shares of Abercrombie & Fitch Co. (NYSE:ANF) were up 6% on Monday . The company traded as high as $159.13 and last traded at $158.68. Approximately 522,904 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 1,691,335 shares. The stock had previously closed at $149.69.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ANF shares. UBS Group lifted their price objective 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. Citigroup upgraded Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 price target for the company in a research report on Friday, August 30th. JPMorgan Chase & Co. upped their price objective on Abercrombie & Fitch from $194.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Morgan Stanley lifted their target price on Abercrombie & Fitch from $147.00 to $149.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Finally, Jefferies Financial Group increased their price target on Abercrombie & Fitch from $215.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.14.

Abercrombie & Fitch Stock Performance

The firm has a market capitalization of $8.22 billion, a PE ratio of 15.97 and a beta of 1.50. The stock has a fifty day moving average price of $143.98 and a 200-day moving average price of $153.87.

Abercrombie & Fitch (NYSE:ANF) last announced its earnings results on Tuesday, November 26th. The apparel retailer reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.19. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the company posted $1.83 earnings per share. The firm’s revenue was up 14.4% on a year-over-year basis. Research analysts expect that Abercrombie & Fitch Co. will post 10.52 earnings per share for the current fiscal 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 that occurred on Friday, September 6th. The shares were sold at an average price of $131.36, for a total transaction of $2,501,225.76. Following the completion of the transaction, the executive vice president now directly owns 27,985 shares of the company’s stock, valued at approximately $3,676,109.60. This trade represents a 40.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Helen Mccluskey sold 3,500 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $139.38, for a total transaction of $487,830.00. Following the completion of the sale, the director now owns 37,470 shares in the company, valued at $5,222,568.60. The trade was a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.58% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Matrix Trust Co purchased a new stake in shares of Abercrombie & Fitch during the 2nd quarter worth about $35,000. Farther Finance Advisors LLC lifted its holdings in Abercrombie & Fitch by 81.5% during the third quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer’s stock valued at $38,000 after purchasing an additional 123 shares in the last quarter. Quarry LP grew its position in shares of Abercrombie & Fitch by 156.0% in the second quarter. Quarry LP now owns 279 shares of the apparel retailer’s stock valued at $50,000 after purchasing an additional 170 shares during the period. Private Trust Co. NA increased its stake in shares of Abercrombie & Fitch by 604.4% during the third quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock worth $44,000 after purchasing an additional 272 shares in the last quarter. Finally, CWM LLC raised its position in shares of 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.