Abercrombie & Fitch (NYSE:ANF) Sees Unusually-High Trading Volume on Better-Than-Expected Earnings

Abercrombie & Fitch Co. (NYSE:ANF) shares saw an uptick in trading volume on Tuesday following a stronger than expected earnings report. 961,803 shares were traded during mid-day 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 earnings per share 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 business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the firm posted $1.83 earnings per share. Abercrombie & Fitch’s quarterly revenue was up 14.4% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ANF. UBS Group increased their target price on Abercrombie & Fitch from $170.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday. Morgan Stanley increased their price objective on Abercrombie & Fitch from $147.00 to $149.00 and gave the company an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on Abercrombie & Fitch from $194.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Jefferies Financial Group boosted their price objective on shares of Abercrombie & Fitch from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $190.00 target price on shares of Abercrombie & Fitch in a report on Tuesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $178.14.

Insider Buying and Selling

In other Abercrombie & Fitch news, 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 completion of the sale, the executive vice president now directly owns 27,985 shares in the company, valued at $3,676,109.60. This trade represents a 40.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Helen Mccluskey sold 3,500 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $139.38, for a total value of $487,830.00. Following the completion of the transaction, the director now directly owns 37,470 shares of the company’s stock, valued at $5,222,568.60. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,541 shares of company stock valued at $4,310,256 over the last ninety days. 2.58% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ANF. Matrix Trust Co purchased a new stake in shares of Abercrombie & Fitch in the second quarter worth $35,000. Farther Finance Advisors LLC increased its stake in Abercrombie & Fitch by 81.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer’s stock valued at $38,000 after purchasing an additional 123 shares in the last quarter. Private Trust Co. NA lifted its stake in shares of Abercrombie & Fitch by 604.4% in the third quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock worth $44,000 after buying an additional 272 shares in the last quarter. Quarry LP grew its holdings in shares of Abercrombie & Fitch by 156.0% during the second quarter. Quarry LP now owns 279 shares of the apparel retailer’s stock valued at $50,000 after buying an additional 170 shares during the last quarter. Finally, CWM LLC increased its position in shares of Abercrombie & Fitch by 242.6% during the second quarter. CWM LLC now owns 531 shares of the apparel retailer’s stock valued at $94,000 after acquiring an additional 376 shares in the last quarter.

Abercrombie & Fitch Trading Up 1.3 %

The company has a market capitalization of $7.59 billion, a PE ratio of 15.83 and a beta of 1.50. The business’s fifty day moving average is $143.37 and its two-hundred day moving average is $153.58.

About Abercrombie & Fitch

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.