Abercrombie & Fitch (NYSE:ANF) Releases Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Abercrombie & Fitch (NYSE:ANF) issued its earnings results on Tuesday. The apparel retailer reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.19, Briefing.com reports. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Abercrombie & Fitch had a net margin of 10.76% and a return on equity of 47.35%. Abercrombie & Fitch’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.83 EPS.

Abercrombie & Fitch Stock Up 1.9 %

Shares of Abercrombie & Fitch stock opened at $154.86 on Tuesday. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of 16.40 and a beta of 1.50. Abercrombie & Fitch has a twelve month low of $72.98 and a twelve month high of $196.99. The company has a 50-day simple moving average of $143.13 and a two-hundred day simple moving average of $153.46.

Analysts Set New Price Targets

A number of research firms recently weighed in on ANF. JPMorgan Chase & Co. boosted their target price on Abercrombie & Fitch from $194.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. UBS Group upped their price objective on shares of Abercrombie & Fitch from $165.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Telsey Advisory Group restated an “outperform” rating and set a $190.00 target price on shares of Abercrombie & Fitch in a research note on Wednesday, September 11th. Jefferies Financial Group lifted their target price on shares of Abercrombie & Fitch from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Morgan Stanley lowered their price target on shares of Abercrombie & Fitch from $155.00 to $147.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Abercrombie & Fitch currently has a consensus rating of “Moderate Buy” and an average price target of $177.43.

Insiders Place Their Bets

In related news, CFO Scott D. Lipesky sold 9,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the transaction, the chief financial officer now owns 106,455 shares of the company’s stock, valued at $15,627,594. The trade was a 7.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Samir Desai sold 19,041 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $131.36, for a total transaction of $2,501,225.76. Following the sale, the executive vice president now directly owns 27,985 shares of the company’s stock, valued at $3,676,109.60. This represents a 40.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,541 shares of company stock worth $4,310,256 in the last quarter. Corporate insiders own 2.58% of the company’s stock.

Abercrombie & Fitch Company Profile

Abercrombie & Fitch Co, through its subsidiaries, operates as an omnichannel retailer in the United States, Europe, the Middle East, Asia, the Asia-Pacific, Canada, and internationally. The company offers an assortment of apparel, personal care products, and accessories for men, women, and kids under the Abercrombie & Fitch, abercrombie kids, Hollister, and Gilly Hicks brands.