Abercrombie & Fitch (NYSE:ANF) Trading 6.1% Higher – Here’s Why

Abercrombie & Fitch Co. (NYSE:ANF) shares traded up 6.1% during mid-day trading on Friday . The company traded as high as $161.89 and last traded at $160.81. 1,698,060 shares traded hands during trading, an increase of 15% from the average session volume of 1,482,091 shares. The stock had previously closed at $151.62.

Analyst Upgrades and Downgrades

ANF has been the topic of a number of research reports. Morgan Stanley raised their price target on Abercrombie & Fitch from $147.00 to $149.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Telsey Advisory Group restated an “outperform” rating and issued a $190.00 target price on shares of Abercrombie & Fitch in a research report on Tuesday, November 26th. UBS Group raised Abercrombie & Fitch from a “neutral” rating to a “buy” rating and upped their target price for the stock from $173.00 to $220.00 in a research note on Friday. JPMorgan Chase & Co. lifted their price target on shares of Abercrombie & Fitch from $201.00 to $204.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Finally, Raymond James started coverage on shares of Abercrombie & Fitch in a research note on Friday, December 6th. They issued an “outperform” rating and a $180.00 price objective for the company. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Abercrombie & Fitch has an average rating of “Moderate Buy” and an average price target of $185.38.

Abercrombie & Fitch Stock Performance

The stock’s 50-day moving average price is $147.99 and its two-hundred day moving average price is $150.15. The stock has a market capitalization of $8.14 billion, a PE ratio of 15.98 and a beta of 1.52.

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

Insider Transactions at Abercrombie & Fitch

In other Abercrombie & Fitch news, Director Suzanne M. Coulter sold 2,870 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was 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 $1,024,800. This represents a 30.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Samir Desai sold 5,926 shares of Abercrombie & Fitch stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $148.51, for a total transaction of $880,070.26. Following the sale, the executive vice president now owns 22,059 shares in the company, valued at approximately $3,275,982.09. The trade was a 21.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,401 shares of company stock worth $2,631,741 over the last three months. 2.58% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Abercrombie & Fitch

Several large investors have recently made changes to their positions in ANF. Farther Finance Advisors LLC lifted its position in Abercrombie & Fitch by 81.5% during the third quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer’s stock valued at $38,000 after purchasing an additional 123 shares during the last quarter. Private Trust Co. NA raised its position in shares of Abercrombie & Fitch by 604.4% during the 3rd quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock valued at $44,000 after buying an additional 272 shares in the last quarter. Quarry LP lifted its holdings in shares of 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 acquiring an additional 170 shares during the last quarter. GAMMA Investing LLC grew its position in Abercrombie & Fitch by 39.2% in the third quarter. GAMMA Investing LLC now owns 788 shares of the apparel retailer’s stock worth $110,000 after acquiring an additional 222 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Abercrombie & Fitch by 8,914.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 631 shares of the apparel retailer’s stock valued at $112,000 after purchasing an additional 624 shares during 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.