Abercrombie & Fitch Co. (NYSE:ANF) announced on Wednesday a higher quarterly profit following improved demand in foreign markets, prompting the firm to estimate yearly earnings above Wall Street’s anticipates.
Shares of the firm, which selected Goldman Sachs Group Inc (NYSE:GS) in September to help ward off pressure from investors, rose 21% to $37.75 in trading before the bell. Abercrombie & Fitch closed at $31.18 on Tuesday on the New York Stock Exchange.
The retailer anticipates to make around $2.85-$3.00 a share for the full year. On average analysts were anticipating the firm to generate $2.48 per share, according to Thomson Reuters.
Moving readers toward the broader market, let’s consider percentage change in stocks prices of other stocks in the similar sector who contribute major role in the market that includes Michael Kors Holdings Ltd (NYSE:KORS) lost -5.69%, American Eagle Outfitters (NYSE:AEO) slid -1.53%, Aeropostale, Inc. (NYSE:ARO) which increased 2.22% and The Gap Inc. (NYSE:GPS) decreased -0.18%.
Abercrombie & Fitch Co. (NYSE:ANF) stock’s trade at beginning with a price of $40.07 and throughout the trading session climbed at a high of $42.00 other than when day-trade ended the stock finally increased 34.45% to $41.92.
The stock is going forward its 52 week low with 47.08% and lagging behind from its 52 week high price with -25.90%. ANF last month stock price volatility remained 3.55%.
ANF stock institutional ownership remained 93.44% while insider ownership included 0.09%. In its share capital ANF has 82.57 million outstanding shares among them 81.41 million shares have been floated in market exchange.
Company’s beta coefficient included 1.68. Beta factors measures the amount of market risk associated with market trade.