Abercrombie & Fitch (NYSE:ANF) Trading 6.1% Higher – Time to Buy?

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ANF. Raymond James initiated coverage on Abercrombie & Fitch in a research report on Friday, December 6th. They set an “outperform” rating and a $180.00 target price for the company. JPMorgan Chase & Co. upped their price objective on shares of Abercrombie & Fitch from $201.00 to $204.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. UBS Group raised shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and raised their target price for the company from $173.00 to $220.00 in a report on Friday. Morgan Stanley upped their price target on shares of Abercrombie & Fitch from $147.00 to $149.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Finally, StockNews.com cut shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Abercrombie & Fitch presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.38.

Abercrombie & Fitch Stock Up 6.7 %

The firm has a 50 day moving average price of $147.39 and a two-hundred day moving average price of $150.37. The company has a market cap of $8.15 billion, a price-to-earnings ratio of 16.00 and a beta of 1.52.

Abercrombie & Fitch (NYSE:ANF) last announced its 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. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. Abercrombie & Fitch’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.83 earnings per share. On average, equities analysts expect that Abercrombie & Fitch Co. will post 10.61 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Scott D. Lipesky sold 8,605 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $150.20, for a total transaction of $1,292,471.00. Following the completion of the sale, the chief operating officer now owns 97,850 shares in the company, valued at approximately $14,697,070. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Samir Desai sold 5,926 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $148.51, for a total value of $880,070.26. Following the transaction, the executive vice president now owns 22,059 shares in the company, valued at approximately $3,275,982.09. This trade represents a 21.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,401 shares of company stock valued at $2,631,741 over the last ninety days. 2.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Abercrombie & Fitch

Hedge funds have recently modified their holdings of the company. Everence Capital Management Inc. bought a new position in Abercrombie & Fitch during the fourth quarter valued at $212,000. Mutual of America Capital Management LLC raised its stake in Abercrombie & Fitch by 228.9% in the 3rd quarter. Mutual of America Capital Management LLC now owns 27,621 shares of the apparel retailer’s stock valued at $3,864,000 after acquiring an additional 19,222 shares during the period. Public Sector Pension Investment Board lifted its holdings in Abercrombie & Fitch by 8.8% during the second quarter. Public Sector Pension Investment Board now owns 112,381 shares of the apparel retailer’s stock valued at $19,986,000 after purchasing an additional 9,061 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in Abercrombie & Fitch by 115.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 25,483 shares of the apparel retailer’s stock worth $3,565,000 after purchasing an additional 13,677 shares during the period. Finally, Zacks Investment Management purchased a new position in shares of Abercrombie & Fitch in the third quarter worth about $3,027,000.

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.