Abercrombie & Fitch (NYSE:ANF) Shares Up 5.9% – Should You Buy?

Abercrombie & Fitch Co. (NYSE:ANF)’s share price traded up 5.9% during trading on Friday . The company traded as high as $70.35 and last traded at $74.44. 1,080,354 shares changed hands during trading, a decline of 43% from the average session volume of 1,906,352 shares. The stock had previously closed at $70.26.

Analyst Upgrades and Downgrades

ANF has been the subject of several recent analyst reports. UBS Group dropped their price objective on Abercrombie & Fitch from $210.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Citigroup dropped their target price on shares of Abercrombie & Fitch from $160.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Jefferies Financial Group decreased their price target on shares of Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. StockNews.com downgraded shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research note on Sunday, March 9th. Finally, Telsey Advisory Group decreased their target price on shares of Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $140.88.

Abercrombie & Fitch Trading Up 4.4 %

The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 7.26 and a beta of 1.41. The firm’s 50-day moving average is $95.74 and its 200 day moving average is $127.40.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.09. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.57 billion. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. Abercrombie & Fitch’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.97 earnings per share. Analysts predict that Abercrombie & Fitch Co. will post 10.62 EPS for the current year.

Abercrombie & Fitch announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $1.30 billion in shares. This repurchase authorization authorizes the apparel retailer to buy up to 29.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Abercrombie & Fitch

A number of hedge funds have recently made changes to their positions in ANF. SBI Securities Co. Ltd. acquired a new stake in Abercrombie & Fitch during the 4th quarter valued at approximately $27,000. UMB Bank n.a. increased its position in shares of Abercrombie & Fitch by 92.2% during the fourth quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer’s stock worth $33,000 after buying an additional 107 shares during the period. Fifth Third Bancorp increased its position in shares of Abercrombie & Fitch by 56.2% during the fourth quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer’s stock worth $55,000 after buying an additional 132 shares during the period. Versant Capital Management Inc raised its stake in Abercrombie & Fitch by 55.6% during the first quarter. Versant Capital Management Inc now owns 728 shares of the apparel retailer’s stock worth $56,000 after buying an additional 260 shares during the last quarter. Finally, Private Trust Co. NA lifted its holdings in Abercrombie & Fitch by 30.9% in the fourth quarter. Private Trust Co. NA now owns 415 shares of the apparel retailer’s stock valued at $62,000 after buying an additional 98 shares during the period.

About Abercrombie & Fitch

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.