Abercrombie & Fitch (NYSE:ANF) Shares Gap Down – What’s Next?

Abercrombie & Fitch Company (NYSE:ANF)’s share price gapped down before the market opened on Monday . The stock had previously closed at $124.87, but opened at $103.00. Abercrombie & Fitch shares last traded at $100.3920, with a volume of 1,640,605 shares trading hands.

Analysts Set New Price Targets

Several analysts have commented on ANF shares. JPMorgan Chase & Co. lifted their price objective on shares of Abercrombie & Fitch from $92.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Barclays increased their price objective on Abercrombie & Fitch from $94.00 to $115.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 6th. BTIG Research reissued a “buy” rating on shares of Abercrombie & Fitch in a research report on Tuesday. The Goldman Sachs Group initiated coverage on shares of Abercrombie & Fitch in a report on Thursday, December 11th. They issued a “buy” rating and a $120.00 target price on the stock. Finally, UBS Group upped their target price on shares of Abercrombie & Fitch from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $118.20.

Abercrombie & Fitch Price Performance

The firm has a market capitalization of $4.62 billion, a PE ratio of 9.67 and a beta of 1.17. The company’s fifty day simple moving average is $101.37 and its 200-day simple moving average is $92.59.

Abercrombie & Fitch (NYSE:ANF) last posted its quarterly earnings results on Wednesday, November 26th. The apparel retailer reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.22. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Abercrombie & Fitch had a net margin of 10.07% and a return on equity of 38.01%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.50 EPS. Analysts forecast that Abercrombie & Fitch Company will post 10.62 earnings per share for the current year.

Hedge Funds Weigh In On Abercrombie & Fitch

Institutional investors have recently modified their holdings of the business. Parallel Advisors LLC increased its position in Abercrombie & Fitch by 17.6% during the 3rd quarter. Parallel Advisors LLC now owns 967 shares of the apparel retailer’s stock worth $83,000 after purchasing an additional 145 shares during the period. Franklin Resources Inc. raised its stake in shares of Abercrombie & Fitch by 0.4% during the 2nd quarter. Franklin Resources Inc. now owns 47,779 shares of the apparel retailer’s stock worth $3,958,000 after buying an additional 167 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Abercrombie & Fitch by 1.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 9,569 shares of the apparel retailer’s stock worth $793,000 after buying an additional 173 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Abercrombie & Fitch by 0.6% in the 1st quarter. Voya Investment Management LLC now owns 31,095 shares of the apparel retailer’s stock worth $2,375,000 after buying an additional 180 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Abercrombie & Fitch by 2.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,897 shares of the apparel retailer’s stock valued at $590,000 after acquiring an additional 194 shares during the last quarter.

About Abercrombie & Fitch

Abercrombie & Fitch Co (NYSE: ANF) is an American specialty retailer that designs, markets and sells casual apparel and accessories for men, women and children. Founded in 1892 by David T. Abercrombie and Ezra Fitch, the company evolved from an outdoor gear outfitter to a global lifestyle brand renowned for its relaxed, preppy aesthetic. Its product assortment includes tops, bottoms, outerwear, intimates, swimwear, fragrances and personal care items.

The company operates under multiple brand names, including Abercrombie & Fitch, Abercrombie Kids, Hollister and Gilly Hicks, each targeting distinct consumer segments from teens to young adults.