Abercrombie & Fitch (NYSE:ANF) Trading Down 3.8% – Here’s What Happened

Shares of Abercrombie & Fitch Co. (NYSE:ANF) were down 3.8% on Tuesday . The company traded as low as $137.34 and last traded at $137.98. Approximately 146,475 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 1,664,098 shares. The stock had previously closed at $143.42.

Analyst Ratings Changes

A number of brokerages have recently commented on ANF. Jefferies Financial Group boosted their price objective on Abercrombie & Fitch from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. UBS Group raised their target price on Abercrombie & Fitch from $165.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Morgan Stanley dropped their price target on shares of Abercrombie & Fitch from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Citigroup upgraded shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 target price for the company in a report on Friday, August 30th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $190.00 price target on shares of Abercrombie & Fitch in a research report on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Abercrombie & Fitch has an average rating of “Moderate Buy” and a consensus price target of $177.43.

Abercrombie & Fitch Price Performance

The company’s 50-day moving average is $142.07 and its 200-day moving average is $152.90. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 15.19 and a beta of 1.50.

Abercrombie & Fitch (NYSE:ANF) last released its quarterly earnings data on Wednesday, August 28th. The apparel retailer reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.36. Abercrombie & Fitch had a return on equity of 47.35% and a net margin of 10.76%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.09 billion. Sell-side analysts anticipate that Abercrombie & Fitch Co. will post 10.31 earnings per share for the current year.

Insider Transactions at Abercrombie & Fitch

In related news, CFO Scott D. Lipesky sold 9,000 shares of the business’s 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 completion of the sale, the chief financial officer now owns 106,455 shares of the company’s stock, valued at approximately $15,627,594. The trade was a 7.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Samir Desai sold 19,041 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $131.36, for a total value of $2,501,225.76. Following the transaction, the executive vice president now owns 27,985 shares in the company, valued at approximately $3,676,109.60. This trade represents a 40.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,541 shares of company stock worth $4,310,256. 2.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Abercrombie & Fitch

Hedge funds and other institutional investors have recently made changes to their positions in the business. Matrix Trust Co acquired a new stake in shares of Abercrombie & Fitch in the second quarter worth $35,000. Farther Finance Advisors LLC raised its position in shares of Abercrombie & Fitch by 81.5% during the third quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer’s stock valued at $38,000 after buying an additional 123 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Abercrombie & Fitch by 604.4% in the third quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock valued at $44,000 after buying an additional 272 shares during the period. Quarry LP increased its stake in Abercrombie & Fitch by 156.0% during the second quarter. Quarry LP now owns 279 shares of the apparel retailer’s stock valued at $50,000 after acquiring an additional 170 shares during the period. Finally, CWM LLC raised its holdings in Abercrombie & Fitch by 242.6% in the 2nd quarter. CWM LLC now owns 531 shares of the apparel retailer’s stock valued at $94,000 after acquiring an additional 376 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.