B.Riley FBR analyst Susan Anderson reiterated a Hold rating on Abercrombie Fitch (NYSE: ANF) on June 4 and set a price target of $25. The company’s shares closed yesterday at $24.73.
Anderson said:
“ANF reported 1Q EPS of ($0.56), well above B. Riley FBR/consensus estimates of ($0.84)/($0.77). See the 1Q drivers in our 1Q First Look note here. Management expects both 2018 SSS and top-line growth to be up +2% to +4%, vs. +LSD previously. Continued positive SSS inflection at Abercrombie and improving traffic and conversion rates indicate that product initiatives are beginning to take hold. 1Q improvement was broad-based, with strong performance across brands, geographies, gender, and channels. We believe 1Q results were positively impacted by the overall shift we are seeing toward a more fashion-driven cycle, reflected in the strength of ANF’s graphic/logo tee business and denim products.”
According to TipRanks.com, Anderson is a 4-star analyst with an average return of 5.6% and a 56.1% 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 $25.20.
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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 22 insiders, corporate insider sentiment is neutral 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.