Sierra Summit Advisors LLC Takes Position in Abercrombie & Fitch Co. (NYSE:ANF)

Sierra Summit Advisors LLC bought a new stake in Abercrombie & Fitch Co. (NYSE:ANF - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,697 shares of the apparel retailer's stock, valued at approximately $553,000.

A number of other institutional investors have also made changes to their positions in ANF. SBI Securities Co. Ltd. bought a new stake in shares of Abercrombie & Fitch during the fourth quarter worth approximately $27,000. UMB Bank n.a. lifted its stake in shares of Abercrombie & Fitch by 92.2% in the 4th quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer's stock valued at $33,000 after purchasing an additional 107 shares during the period. Fifth Third Bancorp boosted its position in shares of Abercrombie & Fitch by 56.2% in the 4th quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer's stock worth $55,000 after purchasing an additional 132 shares during the last quarter. Private Trust Co. NA grew its stake in shares of Abercrombie & Fitch by 30.9% during the fourth quarter. Private Trust Co. NA now owns 415 shares of the apparel retailer's stock worth $62,000 after purchasing an additional 98 shares during the period. Finally, Parkside Financial Bank & Trust bought a new stake in Abercrombie & Fitch in the fourth quarter valued at about $69,000.

Abercrombie & Fitch Trading Up 0.8 %

Shares of ANF stock traded up $0.61 on Friday, hitting $73.60. 2,020,923 shares of the stock were exchanged, compared to its average volume of 1,964,094. The business has a 50-day moving average of $89.15 and a 200 day moving average of $124.22. Abercrombie & Fitch Co. has a fifty-two week low of $65.40 and a fifty-two week high of $196.99. The firm has a market capitalization of $3.60 billion, a P/E ratio of 7.28 and a beta of 1.41.

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Abercrombie & Fitch (NYSE:ANF - Get Free Report) last issued its quarterly earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.09. The company had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.57 billion. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The business's quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the business earned $2.97 EPS. As a group, research analysts forecast that Abercrombie & Fitch Co. will post 10.62 EPS for the current fiscal year.

Abercrombie & Fitch declared that its Board of Directors has authorized a stock buyback plan on Wednesday, March 5th that authorizes the company to repurchase $1.30 billion in shares. This repurchase authorization authorizes the apparel retailer to buy up to 29.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ANF shares. StockNews.com lowered Abercrombie & Fitch from a "buy" rating to a "hold" rating in a research report on Sunday, March 9th. Morgan Stanley lowered their target price on shares of Abercrombie & Fitch from $149.00 to $139.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 15th. Citigroup decreased their price target on shares of Abercrombie & Fitch from $135.00 to $98.00 and set a "buy" rating for the company in a report on Tuesday. UBS Group dropped their price objective on Abercrombie & Fitch from $210.00 to $150.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Finally, Telsey Advisory Group decreased their target price on Abercrombie & Fitch from $190.00 to $125.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $137.14.

Abercrombie & Fitch Profile

Abercrombie & Fitch Co engages in the retail of apparel, personal care products, and accessories. The firm operates through following geographical segments: Americas, EMEA and APAC. The Americas segment includes operations in North America and South America. The EMEA segment includes operations in Europe, the Middle East and Africa.