Abercrombie & Fitch (NYSE:ANF) Sees Large Volume Increase on Strong Earnings

Abercrombie & Fitch Co. (NYSE:ANF) saw strong trading volume on Tuesday after the company announced better than expected quarterly earnings. 961,803 shares changed hands during trading, a decline of 43% from the previous session’s volume of 1,677,701 shares.The stock last traded at $148.27 and had previously closed at $154.50.

The apparel retailer reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.19. Abercrombie & Fitch had a net margin of 10.76% and a return on equity of 47.35%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm earned $1.83 earnings per share. The business’s quarterly revenue was up 14.4% on a year-over-year basis.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ANF shares. UBS Group lifted their price objective on shares of Abercrombie & Fitch from $165.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Citigroup upgraded Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 price target on the stock in a report on Friday, August 30th. Morgan Stanley dropped their price target on Abercrombie & Fitch from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Jefferies Financial Group lifted their target price on Abercrombie & Fitch from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $190.00 price target on shares of Abercrombie & Fitch in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Abercrombie & Fitch currently has a consensus rating of “Moderate Buy” and an average price target of $177.43.

Insiders Place Their Bets

In related news, CFO Scott D. Lipesky sold 9,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the sale, the chief financial officer now directly owns 106,455 shares in the company, valued at approximately $15,627,594. This represents a 7.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Samir Desai sold 19,041 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $131.36, for a total value of $2,501,225.76. Following the transaction, the executive vice president now owns 27,985 shares in the company, valued at approximately $3,676,109.60. This trade represents a 40.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,541 shares of company stock valued at $4,310,256 in the last three months. Insiders own 2.58% of the company’s stock.

Institutional Trading of Abercrombie & Fitch

Several large investors have recently made changes to their positions in the stock. Matrix Trust Co acquired a new stake in Abercrombie & Fitch in the 2nd quarter worth approximately $35,000. Farther Finance Advisors LLC lifted its stake in shares of Abercrombie & Fitch by 81.5% in the third quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer’s stock worth $38,000 after buying an additional 123 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Abercrombie & Fitch by 604.4% during the 3rd quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock worth $44,000 after buying an additional 272 shares during the period. Quarry LP raised its holdings in Abercrombie & Fitch by 156.0% in the 2nd quarter. Quarry LP now owns 279 shares of the apparel retailer’s stock worth $50,000 after acquiring an additional 170 shares during the period. Finally, CWM LLC lifted its position in Abercrombie & Fitch by 242.6% during the 2nd quarter. CWM LLC now owns 531 shares of the apparel retailer’s stock worth $94,000 after acquiring an additional 376 shares during the last quarter.

Abercrombie & Fitch Price Performance

The company has a market capitalization of $7.49 billion, a P/E ratio of 15.53 and a beta of 1.50. The stock’s fifty day simple moving average is $143.13 and its 200-day simple moving average is $153.46.

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.