Abercrombie & Fitch (NYSE:ANF) Announces Earnings Results, Beats Expectations By $0.19 EPS

Abercrombie & Fitch (NYSE:ANF) issued its earnings results on Tuesday. The apparel retailer reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.19, Briefing.com reports. Abercrombie & Fitch had a net margin of 10.76% and a return on equity of 47.35%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company earned $1.83 EPS. The firm’s revenue was up 14.4% compared to the same quarter last year.

Abercrombie & Fitch Stock Up 1.9 %

Shares of NYSE:ANF opened at $154.86 on Tuesday. The firm has a 50 day moving average of $143.13 and a 200 day moving average of $153.46. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of 16.40 and a beta of 1.50. Abercrombie & Fitch has a 52 week low of $72.98 and a 52 week high of $196.99.

Wall Street Analysts Forecast Growth

ANF has been the subject of several research analyst reports. Morgan Stanley dropped their price objective 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. Citigroup upgraded shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 target price for the company in a report on Friday, August 30th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $190.00 target price on shares of Abercrombie & Fitch in a report on Wednesday, September 11th. JPMorgan Chase & Co. upped their price target on Abercrombie & Fitch from $194.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Finally, Jefferies Financial Group lifted their price objective on Abercrombie & Fitch from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Abercrombie & Fitch currently has an average rating of “Moderate Buy” and an average target price of $177.43.

Insider Activity at Abercrombie & Fitch

In other Abercrombie & Fitch news, Director Helen Mccluskey sold 3,500 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $139.38, for a total value of $487,830.00. Following the sale, the director now directly owns 37,470 shares of the company’s stock, valued at approximately $5,222,568.60. This represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Samir Desai sold 19,041 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 27,985 shares of the company’s stock, valued at $3,676,109.60. The trade was a 40.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,541 shares of company stock valued at $4,310,256 over the last quarter. 2.58% of the stock is owned by corporate insiders.

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.