Abercrombie & Fitch (NYSE:ANF) Trading 3.4% Higher – Here’s What Happened

Abercrombie & Fitch Co. (NYSE:ANF)’s share price was up 3.4% during trading on Tuesday . The stock traded as high as $151.97 and last traded at $151.80. Approximately 212,524 shares traded hands during trading, a decline of 88% from the average daily volume of 1,703,911 shares. The stock had previously closed at $146.85.

Analyst Ratings Changes

Several analysts have issued reports on ANF shares. Morgan Stanley increased 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. Raymond James assumed coverage on shares of Abercrombie & Fitch in a research note on Friday, December 6th. They set an “outperform” rating and a $180.00 price target on the stock. UBS Group upped their price objective 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. Jefferies Financial Group lifted their target price on Abercrombie & Fitch from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Citigroup raised Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 price target for the company in a report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Abercrombie & Fitch presently has a consensus rating of “Moderate Buy” and an average price target of $178.38.

Abercrombie & Fitch Stock Down 5.1 %

The firm has a market capitalization of $7.30 billion, a price-to-earnings ratio of 14.33 and a beta of 1.52. The stock has a 50 day moving average of $145.99 and a 200 day moving average of $153.28.

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

Insider Buying and Selling at Abercrombie & Fitch

In other Abercrombie & Fitch news, COO Scott D. Lipesky sold 8,605 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $150.20, for a total value of $1,292,471.00. Following the sale, the chief operating officer now directly owns 97,850 shares of the company’s stock, valued at $14,697,070. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Suzanne M. Coulter sold 2,870 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $160.00, for a total transaction of $459,200.00. Following the transaction, the director now directly owns 6,405 shares of the company’s stock, valued at approximately $1,024,800. This trade represents a 30.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,401 shares of company stock worth $2,631,741 over the last 90 days. Insiders own 2.58% of the company’s stock.

Institutional Trading of Abercrombie & Fitch

Several hedge funds have recently bought and sold shares of ANF. DGS Capital Management LLC acquired a new stake in shares of Abercrombie & Fitch in the third quarter valued at approximately $211,000. Retirement Systems of Alabama bought a new position in Abercrombie & Fitch in the 3rd quarter worth approximately $8,685,000. Franklin Resources Inc. increased its position in Abercrombie & Fitch by 2.1% in the 3rd quarter. Franklin Resources Inc. now owns 48,338 shares of the apparel retailer’s stock valued at $6,762,000 after acquiring an additional 976 shares during the period. Tidal Investments LLC increased its position in Abercrombie & Fitch by 47.9% in the 3rd quarter. Tidal Investments LLC now owns 8,757 shares of the apparel retailer’s stock valued at $1,225,000 after acquiring an additional 2,835 shares during the period. Finally, Optimist Retirement Group LLC raised its stake in Abercrombie & Fitch by 22.8% during the 3rd quarter. Optimist Retirement Group LLC now owns 1,708 shares of the apparel retailer’s stock valued at $239,000 after acquiring an additional 317 shares in the last quarter.

About Abercrombie & Fitch

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.