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

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Morgan Stanley dropped their price objective 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. Jefferies Financial Group reduced 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. Citigroup decreased their target price on Abercrombie & Fitch from $160.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Raymond James set a $110.00 price target on Abercrombie & Fitch in a research note on Thursday, March 6th. Finally, UBS Group lowered their target price on shares of Abercrombie & Fitch from $210.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Abercrombie & Fitch currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.88.

Abercrombie & Fitch Price Performance

The firm’s fifty day moving average is $100.75 and its 200-day moving average is $129.47. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 7.46 and a beta of 1.45.

Abercrombie & Fitch (NYSE:ANF) last announced its earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 EPS for the quarter, beating the consensus estimate of $3.48 by $0.09. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.57 billion. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.97 EPS. As a group, equities research analysts anticipate that Abercrombie & Fitch Co. will post 10.62 EPS for the current year.

Abercrombie & Fitch announced that its board has authorized a stock 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 buy up to 29.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. boosted its position in shares of Abercrombie & Fitch by 150.7% during the 4th quarter. Invesco Ltd. now owns 1,484,643 shares of the apparel retailer’s stock worth $221,910,000 after purchasing an additional 892,492 shares in the last quarter. Norges Bank acquired a new position in Abercrombie & Fitch during the 4th quarter worth approximately $88,478,000. Wellington Management Group LLP grew its stake in Abercrombie & Fitch by 20.8% in the fourth quarter. Wellington Management Group LLP now owns 1,229,875 shares of the apparel retailer’s stock valued at $183,829,000 after acquiring an additional 212,155 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Abercrombie & Fitch during the fourth quarter worth approximately $31,371,000. Finally, Boston Partners acquired a new stake in Abercrombie & Fitch in the 4th quarter valued at $28,327,000.

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.