Abercrombie & Fitch (NYSE:ANF) Shares Up 5.5%

Abercrombie & Fitch Co. (NYSE:ANF) shot up 5.5% during trading on Friday . The stock traded as high as $73.07 and last traded at $72.80. 342,167 shares were traded during trading, a decline of 80% from the average session volume of 1,733,326 shares. The stock had previously closed at $68.98.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ANF. TheStreet raised Abercrombie & Fitch from a “c” rating to a “b” rating in a research note on Wednesday, August 23rd. Telsey Advisory Group boosted their target price on Abercrombie & Fitch from $62.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 14th. UBS Group boosted their target price on Abercrombie & Fitch from $53.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, November 13th. StockNews.com upgraded Abercrombie & Fitch from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Finally, JPMorgan Chase & Co. boosted their price target on Abercrombie & Fitch from $45.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, August 24th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $53.29.

Abercrombie & Fitch Price Performance

The company has a fifty day moving average of $59.39 and a 200 day moving average of $44.63. The firm has a market capitalization of $3.70 billion, a P/E ratio of 34.54 and a beta of 1.42. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.40 and a quick ratio of 0.87.

Abercrombie & Fitch (NYSE:ANF) last announced its earnings results on Wednesday, August 23rd. The apparel retailer reported $1.10 EPS for the quarter, beating the consensus estimate of $0.17 by $0.93. Abercrombie & Fitch had a return on equity of 16.69% and a net margin of 2.85%. The business had revenue of $935.40 million for the quarter, compared to analysts’ expectations of $844.07 million. During the same period in the prior year, the business posted ($0.30) earnings per share. The firm’s revenue was up 16.2% on a year-over-year basis. Sell-side analysts predict that Abercrombie & Fitch Co. will post 4.47 earnings per share for the current year.

Insider Activity at Abercrombie & Fitch

In other Abercrombie & Fitch news, EVP Jay Rust sold 2,385 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $51.80, for a total transaction of $123,543.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Abercrombie & Fitch news, EVP Jay Rust sold 2,385 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $51.80, for a total transaction of $123,543.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Scott D. Lipesky sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $48.58, for a total value of $1,214,500.00. Following the transaction, the chief financial officer now owns 96,918 shares in the company, valued at $4,708,276.44. The disclosure for this sale can be found here. Insiders have sold 260,544 shares of company stock worth $13,236,817 over the last ninety days. Insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Abercrombie & Fitch

Institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning acquired a new position in shares of Abercrombie & Fitch during the third quarter worth approximately $1,179,000. Morgan Stanley raised its position in shares of Abercrombie & Fitch by 0.8% during the third quarter. Morgan Stanley now owns 861,244 shares of the apparel retailer’s stock worth $48,548,000 after purchasing an additional 7,151 shares during the period. Toroso Investments LLC acquired a new position in shares of Abercrombie & Fitch during the third quarter worth approximately $307,000. The Manufacturers Life Insurance Company raised its position in shares of Abercrombie & Fitch by 26.0% during the third quarter. The Manufacturers Life Insurance Company now owns 24,814 shares of the apparel retailer’s stock worth $1,399,000 after purchasing an additional 5,115 shares during the period. Finally, Royal Bank of Canada raised its position in shares of Abercrombie & Fitch by 120.1% during the third quarter. Royal Bank of Canada now owns 8,860 shares of the apparel retailer’s stock worth $499,000 after purchasing an additional 4,835 shares during the period.

About Abercrombie & Fitch

Abercrombie & Fitch Co, through its subsidiaries, operates as a specialty retailer in the United States, Europe, the Middle East, Asia, the Asia-Pacific, Canada, and internationally. The company operates through two segments, Hollister and Abercrombie. It offers an assortment of apparel, personal care products, and accessories for men, women, and kids under the Hollister, Gilly Hicks, Social Tourist, Abercrombie & Fitch, and abercrombie kids brands.