Abercrombie & Fitch (NYSE:ANF) Reaches New 1-Year Low – Here’s What Happened

Abercrombie & Fitch Co. (NYSE:ANF) shares reached a new 52-week low on Tuesday . The stock traded as low as $108.01 and last traded at $108.72, with a volume of 718358 shares. The stock had previously closed at $113.19.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ANF shares. Raymond James dropped their target price on Abercrombie & Fitch from $180.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday, January 14th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $190.00 price objective on shares of Abercrombie & Fitch in a report on Tuesday, January 14th. JPMorgan Chase & Co. increased their target price on shares of Abercrombie & Fitch from $201.00 to $204.00 and gave the company an “overweight” rating in a report on Friday, December 20th. UBS Group raised shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $173.00 to $220.00 in a research report on Friday, January 10th. Finally, Morgan Stanley dropped their target price 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. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $182.25.

Abercrombie & Fitch Trading Down 4.1 %

The stock has a market cap of $5.47 billion, a PE ratio of 10.73 and a beta of 1.49. The business has a fifty day simple moving average of $139.02 and a two-hundred day simple moving average of $143.07.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.18. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 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 14.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.83 earnings per share. On average, research analysts predict that Abercrombie & Fitch Co. will post 10.64 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Suzanne M. Coulter sold 2,870 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $160.00, for a total value of $459,200.00. Following the completion of the transaction, the director now directly owns 6,405 shares in the company, valued at $1,024,800. The trade was a 30.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Samir Desai sold 5,926 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $148.51, for a total value of $880,070.26. Following the sale, the executive vice president now owns 22,059 shares in the company, valued at approximately $3,275,982.09. This represents a 21.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,401 shares of company stock worth $2,631,741 in the last 90 days. Insiders own 2.58% of the company’s stock.

Hedge Funds Weigh In On Abercrombie & Fitch

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in 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 purchasing an additional 63,157 shares during the period. Wellington Management Group LLP raised its stake in shares of Abercrombie & Fitch by 25.2% in the third quarter. Wellington Management Group LLP now owns 1,017,720 shares of the apparel retailer’s stock worth $142,379,000 after buying an additional 204,901 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Abercrombie & Fitch by 7.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 870,143 shares of the apparel retailer’s stock valued at $121,733,000 after buying an additional 60,022 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Abercrombie & Fitch by 23.2% during the 4th quarter. Fisher Asset Management LLC now owns 701,798 shares of the apparel retailer’s stock valued at $104,898,000 after buying an additional 131,970 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Abercrombie & Fitch by 0.8% during the 4th quarter. American Century Companies Inc. now owns 680,930 shares of the apparel retailer’s stock valued at $101,779,000 after acquiring an additional 5,493 shares during the period.

About Abercrombie & Fitch

Abercrombie & Fitch Co, through its subsidiaries, operates as an omnichannel retailer in the United States, Europe, the Middle East, Asia, the Asia-Pacific, Canada, and internationally. The company offers an assortment of apparel, personal care products, and accessories for men, women, and kids under the Abercrombie & Fitch, abercrombie kids, Hollister, and Gilly Hicks brands.