In a report issued on June 1, Susan Anderson from B.Riley FBR maintained a Hold rating on Abercrombie Fitch (NYSE: ANF), with a price target of $24. The company’s shares closed on Friday at $21.77.
Anderson observed:
“ANF (Neutral, $24 PT) reported adjusted 1Q EPS of ($0.56), well above B. Riley FBR/consensus estimates of ($0.84)/($0.77). The EPS reflected comps of +5.0% (versus B. Riley FBR/consensus of +3.6%). International comps were flat while U.S. comps were stronger, growing +8%. The Hollister brand continued to outperform, growing +6% in 1Q, while Abercrombie continued positive at +3%. GM leveraged +20 bps (versus B. stores and distribution expense increased from $359.9M LY to $361.2M TY , and marketing, general, and administrative expense was up from $109.9M LY to $109.9M TY . Management slightly increased expectations for FY18 guiding to SSS of +2% to +4% (+LSD previously) and a net sales increase of +2% to +4% (+LSD previously).”
According to TipRanks.com, Anderson is a 4-star analyst with an average return of 4.2% and a 53.8% success rate. Anderson covers the Services sector, focusing on stocks such as Lululemon Athletica Inc, Ascena Retail Group, and Urban Outfitters.
Abercrombie Fitch has an analyst consensus of Hold, with a price target consensus of $25.
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Based on Abercrombie Fitch’s latest earnings release for the quarter ending April 30, the company reported a quarterly GAAP net loss of $42.46 million. In comparison, last year the company had a GAAP net loss of $61.7 million.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock.
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Abercrombie & Fitch Co. engages in the retail of apparel, personal care products and accessories. It offers a broad array of apparel products, including knit tops, woven shirts, graphic t-shirts, fleece, sweaters, jeans, woven pants, shorts, outerwear, dresses, intimates and swimwear; and personal care products and accessories for men, women and kids under the Abercrombie & Fitch, abercrombie kids, Hollister and Gilly Hicks brands. The company was founded in 1892 and is headquartered in New Albany, OH.
