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

Abercrombie & Fitch Co. (NYSE:ANF)’s stock price 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 analyst reports. Morgan Stanley boosted their target price on Abercrombie & Fitch from $112.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. raised shares of Abercrombie & Fitch from a “neutral” rating to an “overweight” rating and increased their target price for the company from $167.00 to $194.00 in a research note on Monday, July 22nd. Argus cut shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Telsey Advisory Group reissued an “outperform” rating and issued a $208.00 price objective on shares of Abercrombie & Fitch in a research report on Wednesday. Finally, Jefferies Financial Group boosted their target price on Abercrombie & Fitch from $155.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Abercrombie & Fitch has a consensus rating of “Moderate Buy” and an average price target of $186.00.

Abercrombie & Fitch Stock Performance

The company has a current ratio of 1.64, a quick ratio of 1.15 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $8.66 billion, a PE ratio of 21.24 and a beta of 1.54. The firm’s 50-day simple moving average is $164.38 and its 200-day simple moving average is $143.04.

Abercrombie & Fitch (NYSE:ANF) last announced its quarterly earnings results on Wednesday, May 29th. The apparel retailer reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.48. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $967.37 million. Abercrombie & Fitch had a return on equity of 44.83% and a net margin of 9.53%. Abercrombie & Fitch’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 earnings per share. On average, research analysts predict that Abercrombie & Fitch Co. will post 9.35 earnings per share for the current year.

Insider Transactions at Abercrombie & Fitch

In related news, Director Kenneth B. Robinson sold 1,300 shares of Abercrombie & Fitch stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Abercrombie & Fitch news, Director Kenneth B. Robinson sold 1,300 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $171.61, for a total transaction of $223,093.00. Following the completion of the sale, the director now owns 5,880 shares in the company, valued at $1,009,066.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Scott D. Lipesky sold 9,000 shares of Abercrombie & Fitch stock in a transaction on Friday, May 31st. The shares were sold at an average price of $176.48, for a total value of $1,588,320.00. Following the completion of the transaction, the chief financial officer now owns 115,455 shares in the company, valued at $20,375,498.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,120 shares of company stock valued at $3,875,693. 3.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Abercrombie & Fitch

A number of large investors have recently added to or reduced their stakes in the company. Sage Rhino Capital LLC grew its position in shares of Abercrombie & Fitch by 5.5% in the 2nd quarter. Sage Rhino Capital LLC now owns 1,695 shares of the apparel retailer’s stock worth $301,000 after buying an additional 89 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Abercrombie & Fitch by 0.4% during the fourth quarter. Franklin Resources Inc. now owns 25,435 shares of the apparel retailer’s stock worth $2,244,000 after purchasing an additional 93 shares in the last quarter. Spire Wealth Management increased its position 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 worth $39,000 after purchasing an additional 107 shares in the last quarter. Ritholtz Wealth Management lifted its holdings in shares of Abercrombie & Fitch by 3.6% during the 2nd quarter. Ritholtz Wealth Management now owns 3,277 shares of the apparel retailer’s stock valued at $583,000 after purchasing an additional 115 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in shares of Abercrombie & Fitch by 1.6% in the 4th quarter. National Bank of Canada FI now owns 8,587 shares of the apparel retailer’s stock worth $780,000 after purchasing an additional 132 shares in 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.