Abercrombie & Fitch (NYSE:ANF) Hits New 1-Year Low – What’s Next?

Abercrombie & Fitch Co. (NYSE:ANF) shares hit a new 52-week low during mid-day trading on Monday . The stock 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.

Analyst Ratings Changes

A number of brokerages recently weighed in on ANF. Morgan Stanley dropped their price objective on shares of Abercrombie & Fitch from $149.00 to $139.00 and set an “equal weight” rating for the company in a report on Wednesday, January 15th. Raymond James set a $110.00 price target on shares of Abercrombie & Fitch in a research note on Thursday. Telsey Advisory Group cut their price objective on Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday. Citigroup decreased their target price on Abercrombie & Fitch from $160.00 to $135.00 and set a “buy” rating for the company in a report on Thursday. Finally, StockNews.com downgraded Abercrombie & Fitch from a “buy” rating to a “hold” rating in a report on Sunday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $140.88.

Abercrombie & Fitch Stock Performance

The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 7.73 and a beta of 1.45. The company has a 50-day moving average price of $121.00 and a 200-day moving average price of $136.55.

Abercrombie & Fitch (NYSE:ANF) last posted its earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 earnings per share for the quarter, topping 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 firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the business earned $2.97 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. On average, research analysts expect that Abercrombie & Fitch Co. will post 10.62 earnings per share for the current fiscal year.

Abercrombie & Fitch announced that its Board of Directors has authorized a share repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $1.30 billion in shares. This repurchase authorization authorizes the apparel retailer to purchase up to 29.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Abercrombie & Fitch

Several large investors have recently bought and sold shares of ANF. US Bancorp DE lifted its holdings in shares of Abercrombie & Fitch by 62.2% in the 3rd quarter. US Bancorp DE now owns 1,476 shares of the apparel retailer’s stock valued at $206,000 after purchasing an additional 566 shares during the last quarter. Farther Finance Advisors LLC lifted 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. Janney Montgomery Scott LLC boosted its holdings in shares of Abercrombie & Fitch by 18.7% in the third quarter. Janney Montgomery Scott LLC now owns 11,619 shares of the apparel retailer’s stock valued at $1,625,000 after acquiring an additional 1,831 shares during the period. Asset Management One Co. Ltd. grew its position in shares of Abercrombie & Fitch by 1,718.5% during the third quarter. Asset Management One Co. Ltd. now owns 8,929 shares of the apparel retailer’s stock worth $1,249,000 after acquiring an additional 8,438 shares during the last quarter. Finally, Amalgamated Bank grew its position in shares of Abercrombie & Fitch by 50.5% during the third quarter. Amalgamated Bank now owns 23,404 shares of the apparel retailer’s stock worth $3,274,000 after acquiring an additional 7,856 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.