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

Abercrombie & Fitch Co. (NYSE:ANF) shares were up 6% on Monday . The company traded as high as $159.13 and last traded at $158.68. Approximately 522,904 shares changed 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 Analysts Forecast Growth

A number of equities research analysts recently commented on ANF shares. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $190.00 price target on shares of Abercrombie & Fitch in a report on Tuesday, November 26th. Morgan Stanley raised their price objective on shares of Abercrombie & Fitch from $147.00 to $149.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Jefferies Financial Group increased their target price on shares of Abercrombie & Fitch from $215.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Citigroup upgraded shares of 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. Finally, JPMorgan Chase & Co. lifted their price target on Abercrombie & Fitch from $194.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Abercrombie & Fitch has a consensus rating of “Moderate Buy” and an average price target of $178.14.

Abercrombie & Fitch Stock Up 7.5 %

The firm’s 50-day moving average is $143.98 and its 200-day moving average is $153.87. The company has a market cap of $8.22 billion, a PE ratio of 15.97 and a beta of 1.50.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $2.50 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the company posted $1.83 EPS. Abercrombie & Fitch’s revenue was up 14.4% on a year-over-year basis. As a group, equities research analysts anticipate that Abercrombie & Fitch Co. will post 10.52 EPS for the current fiscal year.

Insider Buying and Selling at Abercrombie & Fitch

In related news, Director Helen Mccluskey sold 3,500 shares of Abercrombie & Fitch stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $139.38, for a total value of $487,830.00. Following the completion of the sale, the director now owns 37,470 shares of the company’s stock, valued at $5,222,568.60. The trade was a 8.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Samir Desai sold 19,041 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 27,985 shares of the company’s stock, valued at $3,676,109.60. The trade was a 40.49 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.58% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Westfield Capital Management Co. LP bought a new position in Abercrombie & Fitch in the 3rd quarter worth $73,048,000. Renaissance Technologies LLC lifted its position in shares of Abercrombie & Fitch by 146.3% in the second quarter. Renaissance Technologies LLC now owns 863,100 shares of the apparel retailer’s stock valued at $153,494,000 after acquiring an additional 512,700 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Abercrombie & Fitch by 2,036.5% in the second quarter. Assenagon Asset Management S.A. now owns 419,560 shares of the apparel retailer’s stock worth $74,615,000 after acquiring an additional 399,922 shares during the period. Driehaus Capital Management LLC grew its position in shares of Abercrombie & Fitch by 283.0% during the second quarter. Driehaus Capital Management LLC now owns 303,896 shares of the apparel retailer’s stock worth $54,045,000 after purchasing an additional 224,555 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in Abercrombie & Fitch by 293.7% during the 2nd quarter. Bank of Montreal Can now owns 286,434 shares of the apparel retailer’s stock valued at $51,043,000 after purchasing an additional 213,684 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.