Abercrombie & Fitch (NYSE:ANF) Trading Down 7.5% - What's Next?

Abercrombie & Fitch Co. (NYSE:ANF - Get Free Report) dropped 7.5% on Thursday . The company traded as low as $83.70 and last traded at $81.86. Approximately 758,802 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 2,133,142 shares. The stock had previously closed at $88.47.

Wall Street Analysts Forecast Growth

ANF has been the subject of a number of research analyst reports. Barclays set a $84.00 target price on shares of Abercrombie & Fitch and gave the stock an "equal weight" rating in a research note on Thursday. Telsey Advisory Group reissued an "outperform" rating and set a $125.00 price target on shares of Abercrombie & Fitch in a research report on Wednesday. Raymond James cut their price target on shares of Abercrombie & Fitch from $110.00 to $90.00 and set an "outperform" rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of Abercrombie & Fitch from $142.00 to $147.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Wall Street Zen cut shares of Abercrombie & Fitch from a "buy" rating to a "hold" rating in a research report on Sunday, March 9th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $111.38.

Abercrombie & Fitch Stock Performance

The stock's fifty day moving average price is $74.51 and its 200-day moving average price is $107.67. The company has a market capitalization of $3.73 billion, a P/E ratio of 7.75 and a beta of 1.47.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The apparel retailer reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.24. The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.08 billion. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The business's revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.14 EPS. On average, research analysts predict that Abercrombie & Fitch Co. will post 10.62 EPS for the current fiscal year.

Abercrombie & Fitch declared that its board has authorized a stock buyback plan on Wednesday, March 5th that authorizes the company to repurchase $1.30 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 29.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC grew its position in shares of Abercrombie & Fitch by 96.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 22,827 shares of the apparel retailer's stock worth $3,412,000 after purchasing an additional 11,208 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Abercrombie & Fitch by 56.2% during the 4th quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer's stock worth $55,000 after purchasing an additional 132 shares in the last quarter. KBC Group NV grew its position in shares of Abercrombie & Fitch by 778.9% during the 4th quarter. KBC Group NV now owns 11,232 shares of the apparel retailer's stock worth $1,679,000 after purchasing an additional 9,954 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Abercrombie & Fitch by 33.3% during the 4th quarter. Pacer Advisors Inc. now owns 15,751 shares of the apparel retailer's stock worth $2,354,000 after purchasing an additional 3,934 shares in the last quarter. Finally, Foundations Investment Advisors LLC acquired a new position in shares of Abercrombie & Fitch during the 4th quarter worth approximately $206,000.

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.