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

Abercrombie & Fitch Co. (NYSE:ANF) gapped up prior to trading 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.

Analyst Ratings Changes

Several research firms recently weighed in on ANF. Jefferies Financial Group raised their target price on shares of Abercrombie & Fitch from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. UBS Group upped their price target on shares of Abercrombie & Fitch from $165.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Telsey Advisory Group reiterated an “outperform” rating and set a $190.00 target price on shares of Abercrombie & Fitch in a research report on Wednesday, September 11th. JPMorgan Chase & Co. raised their price objective on Abercrombie & Fitch from $194.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. Finally, Morgan Stanley cut their price target on shares of Abercrombie & Fitch from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Abercrombie & Fitch currently has an average rating of “Moderate Buy” and a consensus target price of $177.43.

Abercrombie & Fitch Stock Performance

The firm has a fifty day moving average price of $142.52 and a two-hundred day moving average price of $152.80. The stock has a market capitalization of $7.68 billion, a P/E ratio of 15.85 and a beta of 1.50.

Abercrombie & Fitch (NYSE:ANF) last posted its quarterly earnings data on Wednesday, August 28th. The apparel retailer reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.36. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Abercrombie & Fitch had a net margin of 10.76% and a return on equity of 47.35%. On average, research analysts anticipate that Abercrombie & Fitch Co. will post 10.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Abercrombie & Fitch

A number of hedge funds and other institutional investors have recently bought and sold shares of ANF. Matrix Trust Co acquired a new stake in shares of Abercrombie & Fitch during the 2nd quarter worth $35,000. Farther Finance Advisors LLC lifted its stake in Abercrombie & Fitch by 81.5% in the third quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer’s stock valued at $38,000 after buying an additional 123 shares during the last quarter. Private Trust Co. NA boosted its position 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 buying an additional 272 shares during the period. Quarry LP grew its position in Abercrombie & Fitch by 156.0% in the 2nd quarter. Quarry LP now owns 279 shares of the apparel retailer’s stock valued at $50,000 after buying an additional 170 shares in the last quarter. Finally, CWM LLC increased 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 valued at $94,000 after purchasing an additional 376 shares during the period.

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.