The stock of Abercrombie & Fitch Co. (NYSE:ANF) is now priced at $12.31 and the shares are 0.28 points up or 2.33% higher compared to its previous closing price of $12.03. The stock had 5.283 million contracts set over the past session. ANF shares’ daily volume is compared to its average trading volume at 2.648 million shares. However, it has a float of 61.11 million and although its performance was 21.76% over the week, it’s one to watch. Analysts have given the ANF stock a yearly average price target of $12.67 per share. It means the stock’s upside potential is 2.92% with the ANF share price recently placing at $11.675 to $12.36. However, some brokerage firms have priced the stock below the average, including one that has called $8.
The shorts are running away from the Abercrombie & Fitch Co. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the ANF shares have declined. Short interest in the stock represents just 20.31% of its float, but the volume has dropped by 0.
In the last trading session, Abercrombie & Fitch Co. (NYSE:ANF) raised by $2.2 over the week and gained $2.68 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $18.83. The stock recorded its established 52-week high on 01/16/20.
Since 04/02/20, the stock has traded to a low of $7.41 at 66.01%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.47. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Abercrombie & Fitch Co.’s two-week RSI is 69.08. This suggests that the stock is neutral at the moment and that ANF shares’ price movement remains stable. The stochastic readings are equally revealing at 72.34% meaning the ANF share price is currently in oversold territory.
The technical chart shows that the ANF stock will likely settle at between $12.56 and $12.8 per share. However, if the stock dips below $11.87, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $11.43.
Currently, the stock is trading in the green of MACD, with a reading of 0.96. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned ANF a rating of Neutral in their intiating review released on August 12. B. Riley FBR analysts upgraded their recommendation of the stock from Neutral to Buy while keeping its target price at $11 in a flash note released to investors on April 03. Wedbush seeing the improvements upgraded the stock from Neutral to Outperform on March 11, placing it at $16.
The average rating for the ANF equity is 2.69 and is currently gathering a bullish momentum. Of 14 analysts tracking Abercrombie & Fitch Co. polled by Reuters, 8 rated ANF as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (4) rated it as a buy or strong buy. 2 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the ANF stock price is 17.46X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 274.2. Abercrombie & Fitch Co. has its P/E ratio at 1, which means that the stock is currently trading at a discount relative to the 8.8 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Abercrombie & Fitch Co. (NYSE:ANF) will increase by about 12.97%, which will see them reach $789 million. The company’s full-year revenues are, however, expected to diminish by about -15.47%, down from $3620 million to $3060 million. ANF’s expected adjusted earnings should drop almost -100% to end up at $0 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -475.34% to record -$2.74/share.