Short Interest in Abercrombie & Fitch Co. (NYSE:ANF) Decreases By 16.9%

Abercrombie & Fitch Co. (NYSE:ANF) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 4,040,000 shares, a decline of 16.9% from the February 28th total of 4,860,000 shares. Based on an average trading volume of 2,360,000 shares, the days-to-cover ratio is presently 1.7 days. Currently, 8.2% of the shares of the company are sold short.

Abercrombie & Fitch Price Performance

ANF stock traded down $12.59 during midday trading on Thursday, reaching $70.80. The company had a trading volume of 3,108,576 shares, compared to its average volume of 1,899,071. The firm has a 50-day moving average price of $97.81 and a 200-day moving average price of $128.28. The company has a market capitalization of $3.57 billion, a P/E ratio of 7.00 and a beta of 1.45. Abercrombie & Fitch has a 1 year low of $68.47 and a 1 year high of $196.99.

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

Abercrombie & Fitch declared that its Board of Directors has approved a stock 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 repurchase up to 29.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ANF shares. Citigroup cut their price target on Abercrombie & Fitch from $160.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, March 6th. UBS Group reduced their target price on Abercrombie & Fitch from $210.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Raymond James set a $110.00 price target on shares of Abercrombie & Fitch in a report on Thursday, March 6th. Morgan Stanley reduced their price objective on shares of Abercrombie & Fitch from $149.00 to $139.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 15th. Finally, Jefferies Financial Group cut their price target on shares of Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.88.

Institutional Trading of Abercrombie & Fitch

A number of hedge funds have recently bought and sold shares of the company. Private Trust Co. NA grew its position in Abercrombie & Fitch by 30.9% during the fourth quarter. Private Trust Co. NA now owns 415 shares of the apparel retailer’s stock valued at $62,000 after acquiring an additional 98 shares during the last quarter. Virtue Capital Management LLC grew its holdings in shares of Abercrombie & Fitch by 1.3% during the 4th quarter. Virtue Capital Management LLC now owns 8,221 shares of the apparel retailer’s stock valued at $1,229,000 after purchasing an additional 102 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Abercrombie & Fitch by 92.2% during the 4th quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 107 shares during the last quarter. Evergreen Capital Management LLC raised its position in Abercrombie & Fitch by 2.0% in the 4th quarter. Evergreen Capital Management LLC now owns 5,460 shares of the apparel retailer’s stock worth $816,000 after purchasing an additional 108 shares during the period. Finally, Arizona State Retirement System lifted its stake in Abercrombie & Fitch by 0.8% in the fourth quarter. Arizona State Retirement System now owns 14,831 shares of the apparel retailer’s stock worth $2,217,000 after purchasing an additional 115 shares during the last quarter.

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.