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

Abercrombie & Fitch Co. (NYSE:ANF) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $105.05 and last traded at $104.63, with a volume of 391520 shares. The stock had previously closed at $108.84.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $190.00 target price on shares of Abercrombie & Fitch in a research note on Tuesday, January 14th. Raymond James dropped their price objective on shares of Abercrombie & Fitch from $180.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th. StockNews.com raised shares of Abercrombie & Fitch from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Morgan Stanley dropped their price target on shares of Abercrombie & Fitch from $149.00 to $139.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Abercrombie & Fitch from $201.00 to $204.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $182.25.

Abercrombie & Fitch Price Performance

The firm’s 50 day moving average price is $134.32 and its two-hundred day moving average price is $141.59. The stock has a market cap of $5.30 billion, a PE ratio of 10.40 and a beta of 1.49.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings data on Tuesday, November 26th. The apparel retailer reported $2.50 EPS for the quarter, beating the consensus estimate of $2.32 by $0.18. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. Abercrombie & Fitch’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.83 earnings per share. Analysts anticipate that Abercrombie & Fitch Co. will post 10.64 earnings per share for the current year.

Insider Activity at Abercrombie & Fitch

In other Abercrombie & Fitch news, EVP Samir Desai sold 5,926 shares of Abercrombie & Fitch stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $148.51, for a total transaction of $880,070.26. Following the completion of the sale, the executive vice president now directly owns 22,059 shares in the company, valued at $3,275,982.09. The trade was a 21.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Scott D. Lipesky sold 8,605 shares of Abercrombie & Fitch stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $150.20, for a total transaction of $1,292,471.00. Following the sale, the chief operating officer now owns 97,850 shares of the company’s stock, valued at approximately $14,697,070. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,401 shares of company stock valued at $2,631,741. Corporate insiders own 2.58% of the company’s stock.

Institutional Investors Weigh In On Abercrombie & Fitch

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Abercrombie & Fitch by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 5,755,692 shares of the apparel retailer’s stock valued at $860,303,000 after purchasing an additional 53,999 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Abercrombie & Fitch by 150.7% in the 4th quarter. Invesco Ltd. now owns 1,484,643 shares of the apparel retailer’s stock worth $221,910,000 after acquiring an additional 892,492 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Abercrombie & Fitch by 20.8% in the 4th quarter. Wellington Management Group LLP now owns 1,229,875 shares of the apparel retailer’s stock worth $183,829,000 after acquiring an additional 212,155 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Abercrombie & Fitch by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,221,890 shares of the apparel retailer’s stock worth $171,815,000 after acquiring an additional 63,157 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Abercrombie & Fitch by 12.6% in the 4th quarter. Marshall Wace LLP now owns 1,037,773 shares of the apparel retailer’s stock worth $155,116,000 after acquiring an additional 115,758 shares during the last quarter.

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.