Abercrombie & Fitch (NYSE:ANF) Shares Up 5.3% - Still a Buy?

Abercrombie & Fitch Company (NYSE:ANF - Get Free Report) shares shot up 5.3% during mid-day trading on Friday . The stock traded as high as $84.39 and last traded at $84.06. 731,086 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 2,169,495 shares. The stock had previously closed at $79.86.

Analyst Ratings Changes

ANF has been the topic of a number of research analyst reports. Jefferies Financial Group cut their price target on Abercrombie & Fitch from $170.00 to $135.00 and set a "buy" rating on the stock in a report on Wednesday, May 21st. JPMorgan Chase & Co. reduced their price target on shares of Abercrombie & Fitch from $147.00 to $141.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Wall Street Zen downgraded shares of Abercrombie & Fitch from a "buy" rating to a "hold" rating in a research note on Sunday, March 9th. Telsey Advisory Group restated an "outperform" rating and issued a $125.00 target price on shares of Abercrombie & Fitch in a research note on Wednesday, May 28th. Finally, Raymond James Financial dropped their price target on Abercrombie & Fitch from $110.00 to $90.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 27th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $110.63.

Abercrombie & Fitch Stock Performance

The company has a market cap of $3.99 billion, a price-to-earnings ratio of 8.25 and a beta of 1.47. The stock's fifty day moving average is $76.12 and its two-hundred day moving average is $98.53.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The apparel retailer reported $1.59 EPS for the quarter, topping the consensus estimate of $1.35 by $0.24. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. Abercrombie & Fitch had a return on equity of 42.32% and a net margin of 10.60%. The company's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.14 earnings per share. On average, equities research analysts expect that Abercrombie & Fitch Company will post 10.62 EPS for the current year.

Abercrombie & Fitch declared that its board has authorized a share repurchase plan on Wednesday, March 5th that permits the company to buyback $1.30 billion in outstanding shares. This buyback authorization permits the apparel retailer to purchase up to 29.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Abercrombie & Fitch

A number of institutional investors have recently added to or reduced their stakes in ANF. Vanguard Group Inc. increased its position in shares of Abercrombie & Fitch by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 5,755,692 shares of the apparel retailer's stock valued at $860,303,000 after acquiring an additional 53,999 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Abercrombie & Fitch by 198.2% during the 1st quarter. AQR Capital Management LLC now owns 1,955,927 shares of the apparel retailer's stock worth $144,582,000 after purchasing an additional 1,300,070 shares during the period. Invesco Ltd. boosted its holdings in shares of Abercrombie & Fitch by 150.7% in the 4th quarter. Invesco Ltd. now owns 1,484,643 shares of the apparel retailer's stock worth $221,910,000 after buying an additional 892,492 shares during the last quarter. Wellington Management Group LLP grew its position in Abercrombie & Fitch by 20.8% during the fourth quarter. Wellington Management Group LLP now owns 1,229,875 shares of the apparel retailer's stock valued at $183,829,000 after buying an additional 212,155 shares during the period. Finally, Marshall Wace LLP grew its position in Abercrombie & Fitch by 12.6% during the fourth quarter. Marshall Wace LLP now owns 1,037,773 shares of the apparel retailer's stock valued at $155,116,000 after buying an additional 115,758 shares during the period.

Abercrombie & Fitch Company Profile

Abercrombie & Fitch Co engages in the retail of apparel, personal care products, and accessories. The firm operates through following geographical segments: Americas, EMEA and APAC. The Americas segment includes operations in North America and South America. The EMEA segment includes operations in Europe, the Middle East and Africa.

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