Abercrombie & Fitch Co. (NYSE:ANF) Sees Large Growth in Short Interest

Abercrombie & Fitch Co. (NYSE:ANF) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 4,790,000 shares, a growth of 10.4% from the November 30th total of 4,340,000 shares. Based on an average trading volume of 1,710,000 shares, the days-to-cover ratio is presently 2.8 days. Currently, 9.7% of the company’s shares are short sold.

Abercrombie & Fitch Stock Performance

Shares of ANF traded down $5.18 during mid-day trading on Wednesday, hitting $149.47. 1,704,934 shares of the stock were exchanged, compared to its average volume of 1,714,916. The company has a market cap of $7.53 billion, a PE ratio of 14.78 and a beta of 1.52. Abercrombie & Fitch has a 52-week low of $86.91 and a 52-week high of $196.99. The firm has a 50-day moving average of $145.46 and a two-hundred day moving average of $151.32.

Abercrombie & Fitch (NYSE:ANF) last released its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.18. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $1.83 earnings per share. Abercrombie & Fitch’s revenue was up 14.4% on a year-over-year basis. On average, sell-side analysts predict that Abercrombie & Fitch will post 10.61 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ANF. Telsey Advisory Group restated an “outperform” rating and set a $190.00 target price on shares of Abercrombie & Fitch in a report on Tuesday, November 26th. Jefferies Financial Group lifted their price objective on Abercrombie & Fitch from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. StockNews.com cut Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Raymond James began coverage on Abercrombie & Fitch in a research report on Friday, December 6th. They set an “outperform” rating and a $180.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of Abercrombie & Fitch from $201.00 to $204.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Abercrombie & Fitch presently has an average rating of “Moderate Buy” and an average price target of $179.50.

Insiders Place Their Bets

In other Abercrombie & Fitch news, Director Suzanne M. Coulter sold 2,870 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $160.00, for a total transaction of $459,200.00. Following the completion of the sale, the director now owns 6,405 shares in the company, valued at approximately $1,024,800. The trade was a 30.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Samir Desai sold 5,926 shares of the 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 completion of the sale, the executive vice president now directly owns 22,059 shares of the company’s stock, valued at $3,275,982.09. The trade was a 21.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,401 shares of company stock valued at $2,631,741 in the last ninety days. 2.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Abercrombie & Fitch

Several large investors have recently added to or reduced their stakes in ANF. Westfield Capital Management Co. LP bought a new position in shares of Abercrombie & Fitch during the 3rd quarter valued at approximately $73,048,000. Renaissance Technologies LLC raised its stake in shares of 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 acquiring an additional 512,700 shares during the period. Driehaus Capital Management LLC lifted its holdings in shares of Abercrombie & Fitch by 283.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 303,896 shares of the apparel retailer’s stock worth $54,045,000 after acquiring an additional 224,555 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Abercrombie & Fitch by 293.7% in the 2nd quarter. Bank of Montreal Can now owns 286,434 shares of the apparel retailer’s stock worth $51,043,000 after acquiring an additional 213,684 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Abercrombie & Fitch by 25.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,017,720 shares of the apparel retailer’s stock worth $142,379,000 after purchasing an additional 204,901 shares during the period.

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.