Abercrombie & Fitch (NYSE:ANF) Reaches New 52-Week Low – Here’s What Happened

Abercrombie & Fitch Co. (NYSE:ANF) hit a new 52-week low on Monday . The stock traded as low as $73.39 and last traded at $75.42, with a volume of 130038 shares trading hands. The stock had previously closed at $76.57.

Analyst Ratings Changes

A number of brokerages have commented on ANF. Jefferies Financial Group decreased their price objective on Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Telsey Advisory Group decreased their price target on Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Raymond James set a $110.00 price target on Abercrombie & Fitch in a research report on Thursday, March 6th. Citigroup cut their price objective on shares of Abercrombie & Fitch from $160.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Abercrombie & Fitch from $189.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Abercrombie & Fitch currently has an average rating of “Moderate Buy” and an average target price of $140.88.

Abercrombie & Fitch Stock Down 1.4 %

The company’s 50-day moving average is $100.75 and its two-hundred day moving average is $129.47. The company has a market cap of $3.80 billion, a P/E ratio of 7.46 and a beta of 1.45.

Abercrombie & Fitch (NYSE:ANF) last posted its quarterly earnings data on Wednesday, March 5th. The apparel retailer reported $3.57 EPS for the quarter, beating the consensus estimate of $3.48 by $0.09. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the business earned $2.97 earnings per share. Abercrombie & Fitch’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, analysts anticipate that Abercrombie & Fitch Co. will post 10.62 EPS for the current fiscal year.

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

Institutional Investors Weigh In On Abercrombie & Fitch

Institutional investors have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Abercrombie & Fitch during the 4th quarter valued at approximately $10,212,000. Virtue Capital Management LLC boosted its holdings in shares of Abercrombie & Fitch by 1.3% in the fourth quarter. Virtue Capital Management LLC now owns 8,221 shares of the apparel retailer’s stock worth $1,229,000 after acquiring an additional 102 shares during the period. Toronto Dominion Bank bought a new stake in shares of Abercrombie & Fitch during the 4th quarter valued at $399,000. Invst LLC boosted its stake in Abercrombie & Fitch by 15.7% in the 4th quarter. Invst LLC now owns 4,017 shares of the apparel retailer’s stock worth $600,000 after purchasing an additional 545 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Abercrombie & Fitch during the fourth quarter valued at about $247,000.

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.