Abercrombie & Fitch (NYSE:ANF) Trading 5.2% Higher – Here’s Why

Shares of Abercrombie & Fitch Company (NYSE:ANF) were up 5.2% during trading on Monday . The company traded as high as $116.50 and last traded at $117.87. Approximately 423,483 shares were traded during trading, a decline of 82% from the average daily volume of 2,325,348 shares. The stock had previously closed at $112.09.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ANF. Zacks Research upgraded shares of Abercrombie & Fitch from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. UBS Group raised their price target on shares of Abercrombie & Fitch from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Raymond James Financial set a $105.00 price objective on shares of Abercrombie & Fitch and gave the company an “outperform” rating in a report on Thursday, August 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Abercrombie & Fitch in a research report on Thursday, October 30th. Finally, Jefferies Financial Group upped their target price on Abercrombie & Fitch from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $110.10.

Abercrombie & Fitch Stock Up 1.8%

The stock has a 50-day moving average of $80.79 and a 200 day moving average of $86.32. The stock has a market cap of $5.43 billion, a PE ratio of 11.33 and a beta of 1.17.

Abercrombie & Fitch (NYSE:ANF) last issued its earnings results on Wednesday, November 26th. The apparel retailer reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.22. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Abercrombie & Fitch had a return on equity of 38.01% and a net margin of 10.07%.The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the company earned $2.50 EPS. Research analysts forecast that Abercrombie & Fitch Company will post 10.62 EPS for the current fiscal year.

Institutional Trading of Abercrombie & Fitch

Several hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC raised its position in shares of Abercrombie & Fitch by 1.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,978,142 shares of the apparel retailer’s stock valued at $163,889,000 after buying an additional 22,215 shares during the period. Wellington Management Group LLP increased its stake in Abercrombie & Fitch by 5,749.6% during the third quarter. Wellington Management Group LLP now owns 1,194,013 shares of the apparel retailer’s stock worth $102,148,000 after acquiring an additional 1,173,601 shares during the last quarter. American Century Companies Inc. increased its stake in Abercrombie & Fitch by 41.2% during the third quarter. American Century Companies Inc. now owns 1,176,990 shares of the apparel retailer’s stock worth $100,691,000 after acquiring an additional 343,288 shares during the last quarter. Boston Partners raised its position in Abercrombie & Fitch by 102.5% in the third quarter. Boston Partners now owns 1,094,023 shares of the apparel retailer’s stock valued at $92,940,000 after purchasing an additional 553,889 shares during the period. Finally, Valeo Financial Advisors LLC lifted its stake in shares of Abercrombie & Fitch by 10,469.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 993,101 shares of the apparel retailer’s stock valued at $82,278,000 after purchasing an additional 983,705 shares during the last quarter.

Abercrombie & Fitch Company Profile

Abercrombie & Fitch Co engages in the retail of apparel, personal care products, and accessories. The firm operates through following geographical segments: Americas, EMEA and APAC. The Americas segment includes operations in North America and South America. The EMEA segment includes operations in Europe, the Middle East and Africa.