Abercrombie & Fitch (NYSE:ANF) Shares Up 3% – Here’s Why

Abercrombie & Fitch Company (NYSE:ANF) shares rose 3% on Monday . The company traded as high as $131.91 and last traded at $130.6540. Approximately 1,047,073 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 2,317,632 shares. The stock had previously closed at $126.84.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ANF shares. JPMorgan Chase & Co. increased their price target on shares of Abercrombie & Fitch from $92.00 to $109.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Zacks Research upgraded shares of Abercrombie & Fitch from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 25th. Wall Street Zen downgraded Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Saturday. Citigroup lifted their price target on Abercrombie & Fitch from $79.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Finally, UBS Group upped their price objective on Abercrombie & Fitch from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.10.

Abercrombie & Fitch Price Performance

The company has a market capitalization of $5.94 billion, a P/E ratio of 12.44 and a beta of 1.17. The company has a 50 day moving average of $88.89 and a 200-day moving average of $88.78.

Abercrombie & Fitch (NYSE:ANF) last released its quarterly earnings results on Wednesday, November 26th. The apparel retailer reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.22. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $2.50 earnings per share. Research analysts predict that Abercrombie & Fitch Company will post 10.62 EPS for the current fiscal year.

Institutional Trading of Abercrombie & Fitch

A number of large investors have recently made changes to their positions in the stock. AQR Capital Management LLC grew its position in Abercrombie & Fitch by 198.2% during the first quarter. AQR Capital Management LLC now owns 1,955,927 shares of the apparel retailer’s stock valued at $144,582,000 after buying an additional 1,300,070 shares during the period. Wellington Management Group LLP boosted its stake in shares of Abercrombie & Fitch by 5,749.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,194,013 shares of the apparel retailer’s stock worth $102,148,000 after acquiring an additional 1,173,601 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake 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 worth $82,278,000 after acquiring an additional 983,705 shares during the last quarter. Brandywine Global Investment Management LLC bought a new stake in shares of Abercrombie & Fitch during the 2nd quarter valued at $61,643,000. Finally, Norges Bank purchased a new stake in shares of Abercrombie & Fitch in the 2nd quarter worth $61,584,000.

About Abercrombie & Fitch

Abercrombie & Fitch Co (NYSE: ANF) is an American specialty retailer that designs, markets and sells casual apparel and accessories for men, women and children. Founded in 1892 by David T. Abercrombie and Ezra Fitch, the company evolved from an outdoor gear outfitter to a global lifestyle brand renowned for its relaxed, preppy aesthetic. Its product assortment includes tops, bottoms, outerwear, intimates, swimwear, fragrances and personal care items.

The company operates under multiple brand names, including Abercrombie & Fitch, Abercrombie Kids, Hollister and Gilly Hicks, each targeting distinct consumer segments from teens to young adults.