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

Abercrombie & Fitch Co. (NYSE:ANF - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $77.31 and last traded at $78.38, with a volume of 1460539 shares traded. The stock had previously closed at $86.03.

Wall Street Analyst Weigh In

ANF has been the topic of a number of analyst reports. 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 research report on Thursday, March 6th. UBS Group reduced their price objective on shares of Abercrombie & Fitch from $210.00 to $150.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Morgan Stanley dropped their target price on Abercrombie & Fitch from $149.00 to $139.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 15th. StockNews.com downgraded Abercrombie & Fitch from a "buy" rating to a "hold" rating in a report on Sunday, March 9th. Finally, Jefferies Financial Group decreased their price target on Abercrombie & Fitch from $220.00 to $170.00 and set a "buy" 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $140.88.

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Abercrombie & Fitch Stock Performance

The company has a fifty day simple moving average of $116.59 and a two-hundred day simple moving average of $134.89. The firm has a market capitalization of $3.94 billion, a PE ratio of 7.77 and a beta of 1.45.

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

Abercrombie & Fitch declared that its board has approved a stock repurchase program on Wednesday, March 5th that permits the company to buyback $1.30 billion in shares. This buyback authorization permits the apparel retailer to reacquire up to 29.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On Abercrombie & Fitch

Hedge funds and other institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of Abercrombie & Fitch during the fourth quarter worth $27,000. UMB Bank n.a. raised its stake in Abercrombie & Fitch by 92.2% in the fourth quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer's stock valued at $33,000 after buying an additional 107 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Abercrombie & Fitch by 81.5% in the third quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer's stock valued at $38,000 after buying an additional 123 shares during the last quarter. Private Trust Co. NA boosted its holdings in Abercrombie & Fitch by 604.4% in the third quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer's stock worth $44,000 after acquiring an additional 272 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Abercrombie & Fitch by 56.2% during the fourth quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer's stock worth $55,000 after acquiring an additional 132 shares during the last quarter.

About Abercrombie & Fitch

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.