Abercrombie & Fitch (NYSE:ANF) Shares Gap Down - Here's Why

Abercrombie & Fitch Co. (NYSE:ANF - Get Free Report) 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.

Analyst Ratings Changes

ANF has been the topic of a number of analyst reports. StockNews.com raised Abercrombie & Fitch from a "hold" rating to a "buy" rating in a research note on Monday. JPMorgan Chase & Co. lifted their price target on shares of Abercrombie & Fitch from $201.00 to $204.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. UBS Group raised shares of Abercrombie & Fitch from a "neutral" rating to a "buy" rating and upped their price objective for the company from $173.00 to $220.00 in a research note on Friday, January 10th. Telsey Advisory Group reiterated an "outperform" rating and issued a $190.00 target price on shares of Abercrombie & Fitch in a research note on Tuesday. Finally, Raymond James decreased their price target on Abercrombie & Fitch from $180.00 to $165.00 and set an "outperform" rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Abercrombie & Fitch has a consensus rating of "Moderate Buy" and an average price target of $182.25.

Abercrombie & Fitch Stock Down 1.0 %

The firm's 50 day simple moving average is $147.83 and its 200-day simple moving average is $149.40. The company has a market capitalization of $6.55 billion, a PE ratio of 12.87 and a beta of 1.52.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.32 by $0.18. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the prior year, the company earned $1.83 EPS. The firm's revenue was up 14.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Abercrombie & Fitch Co. will post 10.61 EPS for the current fiscal year.

Insider Activity at Abercrombie & Fitch

In other Abercrombie & Fitch news, COO Scott D. Lipesky sold 8,605 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $150.20, for a total value of $1,292,471.00. Following the completion of the sale, the chief operating officer now owns 97,850 shares of the company's stock, valued at $14,697,070. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Samir Desai sold 5,926 shares of Abercrombie & Fitch stock in a transaction that occurred 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 sale, the executive vice president now owns 22,059 shares in the company, valued at $3,275,982.09. This represents a 21.18 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,401 shares of company stock worth $2,631,741. 2.58% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Abercrombie & Fitch

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANF. Commonwealth Equity Services LLC acquired a new position in shares of Abercrombie & Fitch in the second quarter worth about $428,000. Victory Capital Management Inc. increased its holdings in Abercrombie & Fitch by 92.5% during the 2nd quarter. Victory Capital Management Inc. now owns 29,571 shares of the apparel retailer's stock worth $5,259,000 after purchasing an additional 14,206 shares during the last quarter. Choreo LLC acquired a new position in shares of Abercrombie & Fitch in the 2nd quarter valued at approximately $336,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Abercrombie & Fitch during the 2nd quarter valued at approximately $786,000. Finally, Plato Investment Management Ltd grew its position in shares of Abercrombie & Fitch by 66.1% during the second quarter. Plato Investment Management Ltd now owns 741 shares of the apparel retailer's stock worth $132,000 after buying an additional 295 shares in the last quarter.

About Abercrombie & Fitch

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.