Abercrombie & Fitch (NYSE:ANF) Trading Up 5.5% – Here’s Why

Abercrombie & Fitch Company (NYSE:ANF)’s share price shot up 5.5% on Tuesday . The company traded as high as $101.18 and last traded at $101.2250. 361,376 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 2,325,642 shares. The stock had previously closed at $95.99.

Analyst Ratings Changes

ANF has been the subject of several research analyst reports. Jefferies Financial Group upped their price target on Abercrombie & Fitch from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday. Raymond James Financial set a $105.00 target price on Abercrombie & Fitch and gave the stock an “outperform” rating in a report on Thursday, August 28th. The Goldman Sachs Group started coverage on shares of Abercrombie & Fitch in a research report on Thursday. They set a “buy” rating and a $120.00 target price for the company. Barclays upped their price target on shares of Abercrombie & Fitch from $84.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Friday, November 28th. Finally, Zacks Research upgraded Abercrombie & Fitch from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $110.10.

Abercrombie & Fitch Trading Up 2.8%

The stock has a market cap of $5.05 billion, a price-to-earnings ratio of 10.56 and a beta of 1.17. The business has a 50 day simple moving average of $78.61 and a two-hundred day simple moving average of $85.49.

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

Institutional Trading of Abercrombie & Fitch

Several institutional investors and hedge funds have recently bought and sold shares of ANF. Parallel Advisors LLC increased its holdings in shares of Abercrombie & Fitch by 17.6% during the third quarter. Parallel Advisors LLC now owns 967 shares of the apparel retailer’s stock worth $83,000 after purchasing an additional 145 shares during the period. Franklin Resources Inc. grew its position in Abercrombie & Fitch by 0.4% during the second quarter. Franklin Resources Inc. now owns 47,779 shares of the apparel retailer’s stock worth $3,958,000 after buying an additional 167 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in Abercrombie & Fitch by 1.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 9,569 shares of the apparel retailer’s stock worth $793,000 after acquiring an additional 173 shares during the period. Voya Investment Management LLC raised its holdings in Abercrombie & Fitch by 0.6% in the 1st quarter. Voya Investment Management LLC now owns 31,095 shares of the apparel retailer’s stock valued at $2,375,000 after acquiring an additional 180 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Abercrombie & Fitch by 2.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,897 shares of the apparel retailer’s stock valued at $590,000 after acquiring an additional 194 shares during the period.

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.