Abercrombie & Fitch (NYSE:ANF) Trading Up 5% Following Analyst Upgrade

Abercrombie & Fitch Co. (NYSE:ANF)’s stock price rose 5% during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $194.00 to $195.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Abercrombie & Fitch traded as high as $142.50 and last traded at $140.82. Approximately 516,400 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 1,703,780 shares. The stock had previously closed at $134.12.

Several other research analysts have also commented on ANF. 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 research note on Friday, August 30th. Argus downgraded shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. UBS Group reduced their price objective on shares of Abercrombie & Fitch from $193.00 to $165.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Jefferies Financial Group boosted their target price on Abercrombie & Fitch from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $190.00 price target on shares of Abercrombie & Fitch in a report on Wednesday, September 11th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $176.71.

Insider Activity

In related news, CFO Scott D. Lipesky sold 9,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the transaction, the chief financial officer now owns 106,455 shares of the company’s stock, valued at $15,627,594. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Helen Mccluskey sold 3,500 shares of Abercrombie & Fitch stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $139.38, for a total value of $487,830.00. Following the completion of the sale, the director now directly owns 37,470 shares in the company, valued at $5,222,568.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Scott D. Lipesky sold 9,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the completion of the sale, the chief financial officer now directly owns 106,455 shares of the company’s stock, valued at approximately $15,627,594. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,541 shares of company stock valued at $4,310,256. Corporate insiders own 3.77% of the company’s stock.

Institutional Investors Weigh In On Abercrombie & Fitch

Several hedge funds have recently modified their holdings of the business. Sage Rhino Capital LLC increased its holdings in Abercrombie & Fitch by 5.5% during the second quarter. Sage Rhino Capital LLC now owns 1,695 shares of the apparel retailer’s stock valued at $301,000 after buying an additional 89 shares during the period. Ritholtz Wealth Management raised its position in shares of Abercrombie & Fitch by 3.6% in the 2nd quarter. Ritholtz Wealth Management now owns 3,277 shares of the apparel retailer’s stock worth $583,000 after acquiring an additional 115 shares in the last quarter. Quarry LP lifted its stake 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 during the last quarter. Petra Financial Advisors Inc. boosted its position in Abercrombie & Fitch by 3.0% during the second quarter. Petra Financial Advisors Inc. now owns 6,103 shares of the apparel retailer’s stock valued at $1,085,000 after purchasing an additional 176 shares in the last quarter. Finally, Matrix Trust Co purchased a new position in Abercrombie & Fitch in the second quarter valued at about $35,000.

Abercrombie & Fitch Price Performance

The firm has a market capitalization of $7.48 billion, a P/E ratio of 18.20 and a beta of 1.49. The stock’s fifty day simple moving average is $144.97 and its 200 day simple moving average is $147.48.

Abercrombie & Fitch (NYSE:ANF) last posted its earnings results on Wednesday, August 28th. The apparel retailer reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.36. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Abercrombie & Fitch had a net margin of 10.76% and a return on equity of 47.35%. As a group, sell-side analysts forecast that Abercrombie & Fitch Co. will post 10.26 EPS for the current fiscal year.

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.