Abercrombie & Fitch (NYSE:ANF) Trading Up 6.1% - Here's What Happened

Abercrombie & Fitch Co. (NYSE:ANF - Get Free Report)'s share price traded up 6.1% during trading on Friday . The stock traded as high as $161.89 and last traded at $160.81. 1,698,060 shares traded hands during mid-day trading, an increase of 15% from the average session volume of 1,482,091 shares. The stock had previously closed at $151.62.

Analysts Set New Price Targets

Several equities analysts have commented on ANF shares. StockNews.com cut shares of Abercrombie & Fitch from a "buy" rating to a "hold" rating in a research report on Friday, December 20th. UBS Group upgraded Abercrombie & Fitch from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $173.00 to $220.00 in a research note on Friday. Morgan Stanley increased their price target on shares of 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 assumed coverage on shares of Abercrombie & Fitch in a report on Friday, December 6th. They set an "outperform" rating and a $180.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Abercrombie & Fitch from $201.00 to $204.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $185.38.

Abercrombie & Fitch Stock Up 6.5 %

The firm has a 50-day simple moving average of $147.39 and a 200-day simple moving average of $150.37. The stock has a market cap of $8.14 billion, a PE ratio of 15.98 and a beta of 1.52.

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

Insider Buying and Selling

In related news, Director Suzanne M. Coulter sold 2,870 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $160.00, for a total value of $459,200.00. Following the sale, the director now directly owns 6,405 shares of the company's stock, valued at $1,024,800. This trade represents a 30.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Samir Desai sold 5,926 shares of the business's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $148.51, for a total transaction of $880,070.26. Following the completion of the transaction, the executive vice president now directly owns 22,059 shares of the company's stock, valued at approximately $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 90 days, insiders have sold 17,401 shares of company stock valued at $2,631,741. Company insiders own 2.58% of the company's stock.

Hedge Funds Weigh In On Abercrombie & Fitch

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in Abercrombie & Fitch by 5.5% during the third quarter. Geode Capital Management LLC now owns 1,221,890 shares of the apparel retailer's stock valued at $171,815,000 after buying an additional 63,157 shares during the period. Wellington Management Group LLP boosted its holdings in Abercrombie & Fitch by 25.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,017,720 shares of the apparel retailer's stock valued at $142,379,000 after acquiring an additional 204,901 shares during the period. Marshall Wace LLP grew its position in Abercrombie & Fitch by 16.0% during the 2nd quarter. Marshall Wace LLP now owns 873,148 shares of the apparel retailer's stock worth $155,281,000 after acquiring an additional 120,509 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Abercrombie & Fitch by 7.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 870,143 shares of the apparel retailer's stock worth $121,733,000 after purchasing an additional 60,022 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Abercrombie & Fitch by 146.3% in the second quarter. Renaissance Technologies LLC now owns 863,100 shares of the apparel retailer's stock valued at $153,494,000 after purchasing an additional 512,700 shares during 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.