Abercrombie & Fitch (NYSE:ANF) Shares Gap Down – Should You Sell?

Abercrombie & Fitch Co. (NYSE:ANF) shares gapped down prior to trading on Monday . The stock had previously closed at $160.92, but opened at $146.96. Abercrombie & Fitch shares last traded at $134.99, with a volume of 1,385,941 shares traded.

Analyst Ratings Changes

ANF has been the topic of several recent analyst reports. StockNews.com downgraded shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Telsey Advisory Group reissued an “outperform” rating and set a $190.00 price target on shares of Abercrombie & Fitch in a research report on Tuesday, November 26th. Morgan Stanley upped their price objective on Abercrombie & Fitch from $147.00 to $149.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Raymond James initiated coverage on Abercrombie & Fitch in a research note on Friday, December 6th. They issued an “outperform” rating and a $180.00 price target for the company. Finally, UBS Group raised Abercrombie & Fitch from a “neutral” rating to a “buy” rating and upped their price target for the company from $173.00 to $220.00 in a report on Friday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.38.

Abercrombie & Fitch Stock Performance

The company’s 50-day moving average price is $147.99 and its 200 day moving average price is $149.99. The stock has a market capitalization of $6.53 billion, a P/E ratio of 12.83 and a beta of 1.52.

Abercrombie & Fitch (NYSE:ANF) last released its quarterly earnings data on Tuesday, November 26th. The apparel retailer reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.18. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.83 earnings per share. Analysts predict that Abercrombie & Fitch Co. will post 10.61 earnings per share for the current year.

Insider Activity at Abercrombie & Fitch

In other Abercrombie & Fitch news, EVP Samir Desai sold 5,926 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $148.51, for a total transaction of $880,070.26. Following the transaction, the executive vice president now owns 22,059 shares in the company, valued at $3,275,982.09. The trade was a 21.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Suzanne M. Coulter sold 2,870 shares of Abercrombie & Fitch stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $160.00, for a total transaction of $459,200.00. Following the transaction, the director now directly owns 6,405 shares of the company’s stock, valued at approximately $1,024,800. This represents a 30.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,401 shares of company stock valued at $2,631,741. Insiders own 2.58% of the company’s stock.

Hedge Funds Weigh In On Abercrombie & Fitch

Several hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. increased its holdings in Abercrombie & Fitch by 58.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 40,721 shares of the apparel retailer’s stock worth $6,087,000 after purchasing an additional 14,968 shares during the period. Diversified Trust Co grew its position in shares of Abercrombie & Fitch by 15.9% during the 4th quarter. Diversified Trust Co now owns 8,183 shares of the apparel retailer’s stock worth $1,223,000 after buying an additional 1,122 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Abercrombie & Fitch by 17.5% during the fourth quarter. Nordea Investment Management AB now owns 26,756 shares of the apparel retailer’s stock valued at $4,024,000 after buying an additional 3,978 shares during the period. Everence Capital Management Inc. bought a new stake in shares of Abercrombie & Fitch in the fourth quarter valued at about $212,000. Finally, GAMMA Investing LLC lifted its stake in Abercrombie & Fitch by 34.0% in the fourth quarter. GAMMA Investing LLC now owns 1,056 shares of the apparel retailer’s stock worth $158,000 after acquiring an additional 268 shares during the period.

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.