Abercrombie & Fitch (NYSE:ANF) Trading Up 5.2% – Here’s What Happened

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

Analysts Set New Price Targets

Several research firms recently commented on ANF. Morgan Stanley increased their target price on shares of Abercrombie & Fitch from $78.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 26th. Zacks Research raised Abercrombie & Fitch from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Abercrombie & Fitch in a research report on Thursday, October 30th. The Goldman Sachs Group assumed coverage on Abercrombie & Fitch in a report on Thursday. They issued a “buy” rating and a $120.00 target price on the stock. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $125.00 target price on shares of Abercrombie & Fitch in a research report on Tuesday, November 25th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $110.10.

Abercrombie & Fitch Price Performance

The business has a 50 day simple moving average of $79.16 and a 200 day simple moving average of $85.80. The stock has a market cap of $5.50 billion, a PE ratio of 11.51 and a beta of 1.17.

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

Institutional Investors Weigh In On Abercrombie & Fitch

Several institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC increased its position in Abercrombie & Fitch by 1.1% during the second quarter. AQR Capital Management LLC now owns 1,978,142 shares of the apparel retailer’s stock worth $163,889,000 after buying an additional 22,215 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Abercrombie & Fitch by 5,749.6% in the third quarter. Wellington Management Group LLP now owns 1,194,013 shares of the apparel retailer’s stock worth $102,148,000 after buying an additional 1,173,601 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Abercrombie & Fitch by 41.2% during the 3rd 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 in the last quarter. Boston Partners increased its holdings in shares of Abercrombie & Fitch by 102.5% during the 3rd quarter. Boston Partners now owns 1,094,023 shares of the apparel retailer’s stock valued at $92,940,000 after acquiring an additional 553,889 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its holdings in shares of Abercrombie & Fitch by 10,469.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 993,101 shares of the apparel retailer’s stock valued at $82,278,000 after acquiring 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.