Abercrombie & Fitch Co. (NYSE:ANF) Sees Large Increase in Short Interest

Abercrombie & Fitch Co. (NYSE:ANF) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 4,790,000 shares, an increase of 10.4% from the November 30th total of 4,340,000 shares. Based on an average daily volume of 1,710,000 shares, the short-interest ratio is presently 2.8 days. Currently, 9.7% of the shares of the company are sold short.

Abercrombie & Fitch Stock Performance

Shares of ANF traded down $5.18 during midday trading on Wednesday, hitting $149.47. 1,704,934 shares of the stock traded hands, compared to its average volume of 1,714,916. The business’s 50 day moving average price is $145.49 and its two-hundred day moving average price is $151.30. The firm has a market capitalization of $7.53 billion, a PE ratio of 14.78 and a beta of 1.52. Abercrombie & Fitch has a 1-year low of $86.91 and a 1-year high of $196.99.

Abercrombie & Fitch (NYSE:ANF) last posted its earnings results on Tuesday, November 26th. The apparel retailer reported $2.50 EPS for the quarter, beating the consensus estimate 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 last year, the firm earned $1.83 EPS. The firm’s revenue was up 14.4% compared to the same quarter last year. As a group, equities research analysts forecast that Abercrombie & Fitch will post 10.61 EPS for the current fiscal year.

Analysts Set New Price Targets

ANF has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Abercrombie & Fitch from $147.00 to $149.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. StockNews.com cut shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. boosted their price objective 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. Jefferies Financial Group lifted their target price on shares of Abercrombie & Fitch from $215.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, UBS Group increased their target price on Abercrombie & Fitch from $170.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $179.50.

Insider Activity at Abercrombie & Fitch

In other Abercrombie & Fitch news, Director Suzanne M. Coulter sold 2,870 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $160.00, for a total value of $459,200.00. Following the sale, the director now owns 6,405 shares of the company’s stock, valued at $1,024,800. This represents a 30.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Scott D. Lipesky sold 8,605 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $150.20, for a total value of $1,292,471.00. Following the sale, the chief operating officer now directly owns 97,850 shares in the company, valued at approximately $14,697,070. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,401 shares of company stock worth $2,631,741 over the last 90 days. Company insiders own 2.58% of the company’s stock.

Hedge Funds Weigh In On Abercrombie & Fitch

Hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its position in shares of Abercrombie & Fitch by 81.5% during the 3rd 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 in the last quarter. Quarry LP grew its position in Abercrombie & Fitch by 156.0% in the second quarter. Quarry LP now owns 279 shares of the apparel retailer’s stock worth $50,000 after buying an additional 170 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Abercrombie & Fitch by 604.4% in the third 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. Northwestern Mutual Wealth Management Co. boosted its stake 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 worth $112,000 after acquiring an additional 624 shares in the last quarter. Finally, Plato Investment Management Ltd grew its holdings in shares of Abercrombie & Fitch by 66.1% in the 2nd quarter. Plato Investment Management Ltd now owns 741 shares of the apparel retailer’s stock worth $132,000 after acquiring an additional 295 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.