Abercrombie & Fitch (NYSE:ANF) Sets New 12-Month Low – Here’s What Happened

Shares of Abercrombie & Fitch Co. (NYSE:ANF) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $99.12 and last traded at $102.17, with a volume of 2793991 shares. The stock had previously closed at $100.11.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Telsey Advisory Group restated an “outperform” rating and set a $190.00 price target on shares of Abercrombie & Fitch in a report on Wednesday. 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 research report on Tuesday, January 14th. UBS Group raised Abercrombie & Fitch from a “neutral” rating to a “buy” rating and raised their price target for the stock from $173.00 to $220.00 in a research note on Friday, January 10th. JPMorgan Chase & Co. increased their price objective on Abercrombie & Fitch from $201.00 to $204.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Finally, Morgan Stanley cut 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. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Abercrombie & Fitch has an average rating of “Moderate Buy” and a consensus price target of $182.25.

Abercrombie & Fitch Price Performance

The company has a market cap of $5.10 billion, a price-to-earnings ratio of 10.02 and a beta of 1.49. The firm has a fifty day simple moving average of $129.39 and a 200 day simple moving average of $140.06.

Abercrombie & Fitch (NYSE:ANF) last posted its earnings results on Tuesday, November 26th. The apparel retailer reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.18. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates 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 was up 14.4% compared to the same quarter last year. During the same period last year, the business posted $1.83 EPS. Analysts expect that Abercrombie & Fitch Co. will post 10.62 earnings per share for the current year.

Insider Activity

In related news, COO Scott D. Lipesky sold 8,605 shares of the company’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 97,850 shares in the company, valued at $14,697,070. This represents a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Samir Desai sold 5,926 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was 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 owns 22,059 shares in the company, valued at $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. Over the last ninety days, insiders have sold 17,401 shares of company stock valued at $2,631,741. 2.58% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Raymond James & Associates increased its stake in Abercrombie & Fitch by 85.6% during the third quarter. Raymond James & Associates now owns 19,559 shares of the apparel retailer’s stock valued at $2,736,000 after acquiring an additional 9,022 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Abercrombie & Fitch by 2,944.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 17,597 shares of the apparel retailer’s stock valued at $2,462,000 after purchasing an additional 17,019 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Abercrombie & Fitch by 11.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 10,716 shares of the apparel retailer’s stock valued at $1,499,000 after purchasing an additional 1,103 shares in the last quarter. WD Rutherford LLC bought a new position in Abercrombie & Fitch in the third quarter worth $549,000. Finally, US Bancorp DE boosted its stake in Abercrombie & Fitch by 62.2% during the third quarter. US Bancorp DE now owns 1,476 shares of the apparel retailer’s stock worth $206,000 after buying an additional 566 shares in 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.