Abercrombie & Fitch (NYSE:ANF) Shares Down 4.1% - Here's What Happened

Abercrombie & Fitch Company (NYSE:ANF - Get Free Report)'s stock price dropped 4.1% during trading on Tuesday . The stock traded as low as $85.71 and last traded at $85.11. Approximately 315,470 shares changed hands during trading, a decline of 86% from the average daily volume of 2,194,518 shares. The stock had previously closed at $88.78.

Wall Street Analyst Weigh In

ANF has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of Abercrombie & Fitch from $78.00 to $82.00 and gave the company an "equal weight" rating in a research note on Thursday, May 29th. Barclays set a $84.00 price target on shares of Abercrombie & Fitch and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. Jefferies Financial Group decreased their price target on shares of Abercrombie & Fitch from $170.00 to $135.00 and set a "buy" rating for the company in a research note on Wednesday, May 21st. Raymond James Financial decreased their price target on shares of Abercrombie & Fitch from $110.00 to $90.00 and set an "outperform" rating for the company in a research note on Tuesday, May 27th. Finally, UBS Group reissued a "buy" rating on shares of Abercrombie & Fitch in a research note on Wednesday, May 28th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $110.63.

Abercrombie & Fitch Price Performance

The stock's 50 day simple moving average is $78.58 and its two-hundred day simple moving average is $95.01. The firm has a market cap of $4.15 billion, a P/E ratio of 8.57 and a beta of 1.46.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last announced its earnings results on Wednesday, May 28th. The apparel retailer reported $1.59 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.24. Abercrombie & Fitch had a net margin of 10.60% and a return on equity of 42.32%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm earned $2.14 earnings per share. The business's revenue for the quarter was up 7.5% on a year-over-year basis. Equities research analysts anticipate that Abercrombie & Fitch Company will post 10.62 earnings per share for the current year.

Institutional Investors Weigh In On Abercrombie & Fitch

Institutional investors have recently made changes to their positions in the company. Virtue Capital Management LLC boosted its holdings in Abercrombie & Fitch by 1.3% in the fourth quarter. Virtue Capital Management LLC now owns 8,221 shares of the apparel retailer's stock worth $1,229,000 after purchasing an additional 102 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in Abercrombie & Fitch by 2.0% in the fourth quarter. Evergreen Capital Management LLC now owns 5,460 shares of the apparel retailer's stock worth $816,000 after purchasing an additional 108 shares during the last quarter. Atria Investments Inc boosted its holdings in Abercrombie & Fitch by 7.4% in the fourth quarter. Atria Investments Inc now owns 1,679 shares of the apparel retailer's stock worth $251,000 after purchasing an additional 115 shares during the last quarter. Arizona State Retirement System boosted its holdings in Abercrombie & Fitch by 0.8% in the fourth quarter. Arizona State Retirement System now owns 14,831 shares of the apparel retailer's stock worth $2,217,000 after purchasing an additional 115 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its holdings in Abercrombie & Fitch by 5.6% in the fourth quarter. Axxcess Wealth Management LLC now owns 2,525 shares of the apparel retailer's stock worth $377,000 after purchasing an additional 133 shares during the last quarter.

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.