Abercrombie & Fitch (NYSE:ANF) Shares Gap Down to $170.88

Shares of Abercrombie & Fitch Co. (NYSE:ANF) gapped down prior to trading on Thursday . The stock had previously closed at $170.88, but opened at $167.20. Abercrombie & Fitch shares last traded at $168.01, with a volume of 97,154 shares trading hands.

Analyst Ratings Changes

ANF has been the topic of several recent analyst reports. UBS Group boosted their price objective on shares of Abercrombie & Fitch from $155.00 to $193.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Morgan Stanley lifted their price target on Abercrombie & Fitch from $112.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Jefferies Financial Group upped their price objective on Abercrombie & Fitch from $155.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. JPMorgan Chase & Co. raised shares of Abercrombie & Fitch from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $167.00 to $194.00 in a research report on Monday, July 22nd. Finally, Citigroup lifted their price objective on shares of Abercrombie & Fitch from $150.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Abercrombie & Fitch presently has an average rating of “Moderate Buy” and an average target price of $186.00.

Abercrombie & Fitch Trading Up 2.7 %

The business’s 50 day simple moving average is $163.86 and its two-hundred day simple moving average is $143.20. The stock has a market cap of $8.67 billion, a P/E ratio of 21.11 and a beta of 1.54. The company has a quick ratio of 1.15, a current ratio of 1.64 and a debt-to-equity ratio of 0.20.

Abercrombie & Fitch (NYSE:ANF) last issued its earnings results on Wednesday, May 29th. The apparel retailer reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.48. Abercrombie & Fitch had a return on equity of 44.83% and a net margin of 9.53%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $967.37 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, analysts expect that Abercrombie & Fitch Co. will post 9.35 EPS for the current year.

Insider Activity

In related news, Director Kenneth B. Robinson sold 1,300 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $171.61, for a total value of $223,093.00. Following the completion of the sale, the director now directly owns 5,880 shares in the company, valued at $1,009,066.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Abercrombie & Fitch news, Director James A. Goldman sold 4,120 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $176.48, for a total transaction of $727,097.60. Following the completion of the sale, the director now directly owns 7,565 shares in the company, valued at approximately $1,335,071.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kenneth B. Robinson sold 1,300 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $171.61, for a total value of $223,093.00. Following the completion of the transaction, the director now directly owns 5,880 shares in the company, valued at $1,009,066.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,120 shares of company stock valued at $3,875,693. Insiders own 3.77% of the company’s stock.

Institutional Investors Weigh In On Abercrombie & Fitch

Hedge funds have recently added to or reduced their stakes in the business. Matrix Trust Co bought a new stake in shares of Abercrombie & Fitch in the 2nd quarter valued at $35,000. Spire Wealth Management raised its holdings in shares of Abercrombie & Fitch by 51.4% during the first quarter. Spire Wealth Management now owns 315 shares of the apparel retailer’s stock valued at $39,000 after purchasing an additional 107 shares during the period. GAMMA Investing LLC bought a new position in shares of Abercrombie & Fitch during the 4th quarter worth about $49,000. Quarry LP boosted its position in shares of Abercrombie & Fitch by 156.0% during the 2nd quarter. Quarry LP now owns 279 shares of the apparel retailer’s stock worth $50,000 after purchasing an additional 170 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Abercrombie & Fitch in the 4th quarter valued at about $62,000.

About Abercrombie & Fitch

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.