Abercrombie & Fitch (NYSE:ANF) Shares Gap Down – Here’s Why

Abercrombie & Fitch Co. (NYSE:ANF) shares gapped down before the market opened on Monday . The stock had previously closed at $160.92, but opened at $146.96. Abercrombie & Fitch shares last traded at $134.99, with a volume of 1,385,941 shares traded.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ANF shares. Raymond James decreased their price objective on Abercrombie & Fitch from $180.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on Abercrombie & Fitch from $201.00 to $204.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. StockNews.com upgraded Abercrombie & Fitch from a “hold” rating to a “buy” rating in a research report on Monday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $190.00 target price on shares of Abercrombie & Fitch in a report on Tuesday. Finally, Morgan Stanley increased 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. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $183.50.

Abercrombie & Fitch Price Performance

The firm has a market capitalization of $6.62 billion, a PE ratio of 13.00 and a beta of 1.52. The company’s fifty day simple moving average is $147.95 and its 200-day simple moving average is $149.73.

Abercrombie & Fitch (NYSE:ANF) last posted its quarterly earnings data on Tuesday, November 26th. The apparel retailer reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.18. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the firm posted $1.83 EPS. Abercrombie & Fitch’s revenue was up 14.4% compared to the same quarter last year. Analysts forecast that Abercrombie & Fitch Co. will post 10.61 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Samir Desai sold 5,926 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $148.51, for a total transaction of $880,070.26. Following the completion of the sale, the executive vice president now owns 22,059 shares of the company’s stock, valued at approximately $3,275,982.09. This represents a 21.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Scott D. Lipesky sold 8,605 shares of the stock in a transaction dated Friday, November 29th. The shares were 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 of the company’s stock, valued at approximately $14,697,070. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,401 shares of company stock worth $2,631,741. 2.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Abercrombie & Fitch

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANF. Westfield Capital Management Co. LP acquired a new position in shares of Abercrombie & Fitch during the 3rd quarter valued at about $73,048,000. Driehaus Capital Management LLC raised its stake in Abercrombie & Fitch by 283.0% during the second quarter. Driehaus Capital Management LLC now owns 303,896 shares of the apparel retailer’s stock worth $54,045,000 after purchasing an additional 224,555 shares during the period. Bank of Montreal Can boosted its holdings in Abercrombie & Fitch by 293.7% in the 2nd quarter. Bank of Montreal Can now owns 286,434 shares of the apparel retailer’s stock valued at $51,043,000 after purchasing an additional 213,684 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of 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 valued at $142,379,000 after buying an additional 204,901 shares during the period. Finally, Marshall Wace LLP increased its holdings in shares of Abercrombie & Fitch by 16.0% during the 2nd quarter. Marshall Wace LLP now owns 873,148 shares of the apparel retailer’s stock worth $155,281,000 after buying an additional 120,509 shares during the last quarter.

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.