Traders Buy High Volume of Abercrombie & Fitch Call Options (NYSE:ANF)

Abercrombie & Fitch Co. (NYSE:ANF - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 86,430 call options on the company. This represents an increase of approximately 643% compared to the average volume of 11,634 call options.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wall Street Zen lowered Abercrombie & Fitch from a "buy" rating to a "hold" rating in a research report on Sunday, March 9th. Citigroup restated a "buy" rating on shares of Abercrombie & Fitch in a report on Wednesday. Telsey Advisory Group cut their target price on Abercrombie & Fitch from $190.00 to $125.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Morgan Stanley decreased their price target on shares of Abercrombie & Fitch from $114.00 to $78.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. cut their price target on shares of Abercrombie & Fitch from $155.00 to $142.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $108.63.

Abercrombie & Fitch Price Performance

Shares of ANF stock traded up $13.09 on Wednesday, hitting $90.24. 15,428,085 shares of the stock traded hands, compared to its average volume of 2,119,649. The company's fifty day moving average is $74.21 and its 200 day moving average is $108.63. Abercrombie & Fitch has a 1-year low of $65.40 and a 1-year high of $196.99. The company has a market capitalization of $4.30 billion, a PE ratio of 8.93 and a beta of 1.47.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last issued its earnings results on Wednesday, May 28th. The apparel retailer reported $1.59 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.24. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.08 billion. During the same period in the prior year, the company earned $2.14 earnings per share. The firm's revenue was up 7.5% compared to the same quarter last year. As a group, equities research analysts expect that Abercrombie & Fitch will post 10.62 EPS for the current year.

Abercrombie & Fitch declared that its Board of Directors has initiated a share buyback program on Wednesday, March 5th that allows the company to repurchase $1.30 billion in outstanding shares. This repurchase authorization allows the apparel retailer to buy up to 29.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Hedge Funds Weigh In On Abercrombie & Fitch

A number of large investors have recently bought and sold shares of ANF. SBI Securities Co. Ltd. acquired a new stake in shares of Abercrombie & Fitch during the 4th quarter worth approximately $27,000. Fifth Third Bancorp increased its holdings in shares of Abercrombie & Fitch by 56.2% in the 4th quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer's stock worth $55,000 after acquiring an additional 132 shares during the period. Private Trust Co. NA lifted its position in Abercrombie & Fitch by 30.9% in the 4th quarter. Private Trust Co. NA now owns 415 shares of the apparel retailer's stock valued at $62,000 after purchasing an additional 98 shares during the last quarter. Parkside Financial Bank & Trust acquired a new position in Abercrombie & Fitch during the 4th quarter valued at about $69,000. Finally, GeoWealth Management LLC acquired a new position in Abercrombie & Fitch during the 4th quarter valued at about $70,000.

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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