Abercrombie & Fitch (NYSE:ANF) Shares Down 2.5% – Here’s What Happened

Abercrombie & Fitch Co. (NYSE:ANF)’s share price dropped 2.5% during mid-day trading on Tuesday . The company traded as low as $150.85 and last traded at $150.85. Approximately 144,109 shares traded hands during trading, a decline of 92% from the average daily volume of 1,708,497 shares. The stock had previously closed at $154.65.

Analyst Ratings Changes

ANF has been the subject of a number of research reports. Jefferies Financial Group raised their price target on shares of Abercrombie & Fitch from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. UBS Group lifted their price target on shares of Abercrombie & Fitch from $170.00 to $173.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. increased their price objective on Abercrombie & Fitch from $201.00 to $204.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Raymond James began coverage on shares of Abercrombie & Fitch in a research report on Friday, December 6th. They set an “outperform” rating and a $180.00 price target on the stock. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $190.00 price objective on shares of Abercrombie & Fitch in a research report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $179.50.

Abercrombie & Fitch Stock Performance

The firm has a 50 day moving average price of $145.49 and a two-hundred day moving average price of $151.30. The company has a market cap of $7.53 billion, a P/E ratio of 14.78 and a beta of 1.52.

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

Insider Buying and Selling at Abercrombie & Fitch

In other news, Director Suzanne M. Coulter sold 2,870 shares of the firm’s 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 completion of the transaction, the director now directly owns 6,405 shares in the company, valued at approximately $1,024,800. This trade represents a 30.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $1,292,471.00. Following the sale, the chief operating officer now directly owns 97,850 shares in the company, valued at $14,697,070. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,401 shares of company stock valued at $2,631,741 in the last 90 days. 2.58% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC increased its stake in Abercrombie & Fitch by 81.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer’s stock worth $38,000 after acquiring an additional 123 shares during the last quarter. Quarry LP boosted its position in shares of Abercrombie & Fitch by 156.0% during the 2nd quarter. Quarry LP now owns 279 shares of the apparel retailer’s stock valued at $50,000 after acquiring an additional 170 shares during the last quarter. Private Trust Co. NA grew its holdings 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. Northwestern Mutual Wealth Management Co. increased its position in shares of Abercrombie & Fitch by 8,914.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 631 shares of the apparel retailer’s stock worth $112,000 after purchasing an additional 624 shares during the last quarter. Finally, Plato Investment Management Ltd raised its stake in Abercrombie & Fitch by 66.1% in the second quarter. Plato Investment Management Ltd now owns 741 shares of the apparel retailer’s stock valued at $132,000 after purchasing an additional 295 shares in 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.