Abercrombie & Fitch (NYSE:ANF) Stock Price Down 4.1% - Here's Why

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

Analyst Ratings Changes

Several analysts recently weighed in on ANF shares. Telsey Advisory Group restated an "outperform" rating and issued a $125.00 price target on shares of Abercrombie & Fitch in a research note on Wednesday, May 28th. UBS Group restated a "buy" rating on shares of Abercrombie & Fitch in a research note on Wednesday, May 28th. Morgan Stanley upped their price target on Abercrombie & Fitch from $78.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. Barclays set a $84.00 target price on Abercrombie & Fitch and gave the company an "equal weight" rating in a research note on Thursday, May 29th. Finally, Jefferies Financial Group cut their target price on Abercrombie & Fitch from $170.00 to $135.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Abercrombie & Fitch has a consensus rating of "Moderate Buy" and an average target price of $110.63.

Abercrombie & Fitch Stock Performance

The firm has a fifty day moving average price of $78.58 and a two-hundred day moving average price of $95.01. The stock has a market capitalization of $4.13 billion, a P/E ratio of 8.54 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 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.24. Abercrombie & Fitch had a return on equity of 42.32% and a net margin of 10.60%. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.08 billion. During the same period last year, the firm earned $2.14 EPS. Abercrombie & Fitch's revenue for the quarter was up 7.5% compared to the same quarter last year. On average, research analysts anticipate that Abercrombie & Fitch Company will post 10.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Abercrombie & Fitch

A number of institutional investors and hedge funds have recently bought and sold shares of ANF. AQR Capital Management LLC raised its holdings in Abercrombie & Fitch by 198.2% during the first quarter. AQR Capital Management LLC now owns 1,955,927 shares of the apparel retailer's stock valued at $144,582,000 after acquiring an additional 1,300,070 shares during the period. Invesco Ltd. raised its holdings in Abercrombie & Fitch by 150.7% during the fourth quarter. Invesco Ltd. now owns 1,484,643 shares of the apparel retailer's stock valued at $221,910,000 after acquiring an additional 892,492 shares during the period. Assenagon Asset Management S.A. bought a new stake in Abercrombie & Fitch during the first quarter valued at about $56,569,000. Norges Bank purchased a new position in shares of Abercrombie & Fitch during the fourth quarter valued at about $88,478,000. Finally, Pacer Advisors Inc. grew its position in shares of Abercrombie & Fitch by 3,113.1% during the first quarter. Pacer Advisors Inc. now owns 506,088 shares of the apparel retailer's stock valued at $38,650,000 after purchasing an additional 490,337 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.