Abercrombie & Fitch (NYSE:ANF) Stock Price Up 3% – Here’s What Happened

Abercrombie & Fitch Company (NYSE:ANF)’s stock price shot up 3% during mid-day trading on Monday . The company traded as high as $131.91 and last traded at $130.6540. 1,047,073 shares were traded during mid-day trading, a decline of 55% from the average session volume of 2,317,632 shares. The stock had previously closed at $126.84.

Analyst Ratings Changes

A number of research firms have issued reports on ANF. Wall Street Zen cut Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Abercrombie & Fitch in a report on Thursday, October 30th. UBS Group lifted their price target on shares of Abercrombie & Fitch from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Citigroup increased their price objective on shares of Abercrombie & Fitch from $79.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Finally, Barclays lifted their price objective on shares of Abercrombie & Fitch from $84.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Friday, November 28th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $110.10.

Abercrombie & Fitch Stock Down 1.1%

The stock has a market capitalization of $5.79 billion, a PE ratio of 12.11 and a beta of 1.17. The business’s 50-day moving average is $91.32 and its two-hundred day moving average is $89.51.

Abercrombie & Fitch (NYSE:ANF) last posted its earnings results on Wednesday, November 26th. The apparel retailer reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.22. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Abercrombie & Fitch had a return on equity of 38.01% and a net margin of 10.07%.The business’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.50 earnings per share. As a group, analysts anticipate that Abercrombie & Fitch Company will post 10.62 EPS for the current year.

Hedge Funds Weigh In On Abercrombie & Fitch

Hedge funds have recently modified their holdings of the business. AQR Capital Management LLC raised its position in Abercrombie & Fitch by 198.2% in the 1st quarter. AQR Capital Management LLC now owns 1,955,927 shares of the apparel retailer’s stock valued at $144,582,000 after purchasing an additional 1,300,070 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Abercrombie & Fitch by 5,749.6% in the third quarter. Wellington Management Group LLP now owns 1,194,013 shares of the apparel retailer’s stock valued at $102,148,000 after buying an additional 1,173,601 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Abercrombie & Fitch by 10,469.4% during the second quarter. Valeo Financial Advisors LLC now owns 993,101 shares of the apparel retailer’s stock worth $82,278,000 after buying an additional 983,705 shares during the period. Brandywine Global Investment Management LLC acquired a new stake in shares of Abercrombie & Fitch during the second quarter worth about $61,643,000. Finally, Norges Bank purchased a new position in shares of Abercrombie & Fitch during the second quarter worth about $61,584,000.

Abercrombie & Fitch Company Profile

Abercrombie & Fitch Co (NYSE: ANF) is an American specialty retailer that designs, markets and sells casual apparel and accessories for men, women and children. Founded in 1892 by David T. Abercrombie and Ezra Fitch, the company evolved from an outdoor gear outfitter to a global lifestyle brand renowned for its relaxed, preppy aesthetic. Its product assortment includes tops, bottoms, outerwear, intimates, swimwear, fragrances and personal care items.

The company operates under multiple brand names, including Abercrombie & Fitch, Abercrombie Kids, Hollister and Gilly Hicks, each targeting distinct consumer segments from teens to young adults.