Abercrombie & Fitch (NYSE:ANF) Trading Down 3.8% – What’s Next?

Abercrombie & Fitch Co. (NYSE:ANF) shares fell 3.8% during mid-day trading on Tuesday . The company traded as low as $137.34 and last traded at $137.98. 146,475 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 1,664,098 shares. The stock had previously closed at $143.42.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Abercrombie & Fitch from $194.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Citigroup raised shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Friday, August 30th. Jefferies Financial Group boosted their target price on Abercrombie & Fitch from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Morgan Stanley dropped their price target on Abercrombie & Fitch from $155.00 to $147.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $190.00 target price on shares of Abercrombie & Fitch in a report on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

Abercrombie & Fitch Trading Down 0.6 %

The company has a market cap of $7.28 billion, a P/E ratio of 15.19 and a beta of 1.50. The business has a 50 day moving average price of $142.07 and a 200-day moving average price of $152.90.

Abercrombie & Fitch (NYSE:ANF) last posted its earnings results on Wednesday, August 28th. The apparel retailer reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.36. Abercrombie & Fitch had a return on equity of 47.35% and a net margin of 10.76%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.09 billion. On average, sell-side analysts expect that Abercrombie & Fitch Co. will post 10.31 earnings per share for the current year.

Insider Activity at Abercrombie & Fitch

In related news, Director Helen Mccluskey sold 3,500 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $139.38, for a total transaction of $487,830.00. Following the sale, the director now owns 37,470 shares in the company, valued at approximately $5,222,568.60. This trade represents a 8.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Samir Desai sold 19,041 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $131.36, for a total value of $2,501,225.76. Following the sale, the executive vice president now owns 27,985 shares of the company’s stock, valued at $3,676,109.60. The trade was a 40.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,541 shares of company stock worth $4,310,256. Company insiders own 2.58% of the company’s stock.

Hedge Funds Weigh In On Abercrombie & Fitch

A number of institutional investors have recently added to or reduced their stakes in ANF. Matrix Trust Co bought a new position in Abercrombie & Fitch in the second quarter valued at about $35,000. Farther Finance Advisors LLC increased its position in Abercrombie & Fitch by 81.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer’s stock valued at $38,000 after acquiring an additional 123 shares during the period. Private Trust Co. NA raised its stake in shares of Abercrombie & Fitch by 604.4% during the third quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock valued at $44,000 after acquiring an additional 272 shares during the last quarter. Quarry LP lifted its holdings in shares of Abercrombie & Fitch by 156.0% during the second quarter. Quarry LP now owns 279 shares of the apparel retailer’s stock worth $50,000 after purchasing an additional 170 shares during the period. Finally, CWM LLC raised its position in Abercrombie & Fitch by 242.6% during the 2nd quarter. CWM LLC now owns 531 shares of the apparel retailer’s stock worth $94,000 after purchasing an additional 376 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.