Abercrombie & Fitch (NYSE:ANF) Reaches New 52-Week Low - Time to Sell?

Abercrombie & Fitch Co. (NYSE:ANF - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $66.87 and last traded at $69.47, with a volume of 1879082 shares. The stock had previously closed at $69.46.

Analyst Ratings Changes

ANF has been the topic of several research reports. Jefferies Financial Group dropped their price objective on shares of Abercrombie & Fitch from $220.00 to $170.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Barclays began coverage on Abercrombie & Fitch in a report on Monday, April 21st. They issued an "equal weight" rating and a $71.00 price target on the stock. UBS Group lowered their price objective on Abercrombie & Fitch from $210.00 to $150.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Morgan Stanley cut their target price on Abercrombie & Fitch from $149.00 to $139.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 15th. Finally, Raymond James set a $110.00 price target on shares of Abercrombie & Fitch in a report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $127.25.

Abercrombie & Fitch Stock Up 2.6 %

The business's 50 day moving average is $78.08 and its two-hundred day moving average is $116.64. The firm has a market capitalization of $3.46 billion, a P/E ratio of 7.00 and a beta of 1.41.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last issued its quarterly earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 earnings per share for the quarter, topping analysts' consensus estimates of $3.48 by $0.09. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the business posted $2.97 EPS. The business's revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities analysts anticipate that Abercrombie & Fitch Co. will post 10.62 earnings per share for the current fiscal year.

Abercrombie & Fitch announced that its board has approved a share buyback program on Wednesday, March 5th that permits the company to repurchase $1.30 billion in outstanding shares. This repurchase authorization permits the apparel retailer to reacquire up to 29.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ANF. Everence Capital Management Inc. acquired a new stake in Abercrombie & Fitch in the 4th quarter valued at about $212,000. Empirical Finance LLC raised its holdings in shares of Abercrombie & Fitch by 87.2% in the 4th quarter. Empirical Finance LLC now owns 8,818 shares of the apparel retailer's stock worth $1,318,000 after purchasing an additional 4,108 shares in the last quarter. Lmcg Investments LLC lifted its stake in Abercrombie & Fitch by 11.2% during the fourth quarter. Lmcg Investments LLC now owns 24,669 shares of the apparel retailer's stock valued at $3,687,000 after purchasing an additional 2,479 shares during the last quarter. Rhumbline Advisers boosted its holdings in Abercrombie & Fitch by 3.1% during the fourth quarter. Rhumbline Advisers now owns 158,554 shares of the apparel retailer's stock worth $23,699,000 after buying an additional 4,837 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Abercrombie & Fitch in the fourth quarter worth approximately $12,406,000.

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.