Abercrombie Fitch (ANF) Gets a Hold Rating from B.Riley FBR

By Austin Angelo

B.Riley FBR analyst Susan Anderson reiterated a Hold rating on Abercrombie Fitch (NYSE: ANF) today and set a price target of $25. The company’s shares opened today at $22.37.

Anderson noted:

“ANF reported 2Q EPS of $0.06, well above B. Riley FBR/consensus estimates of ($0.05)/($0.04). See the 2Q drivers in our 2Q First Look note here. Management expects both 2018 SSS and top- line growth to be up +2% to +4%, in line with previous guidance. NA sales were strong in the quarter with comps +7%, more than offsetting weaker European performance which weighed on international SSS (–4%). Hollister contributed to positive overall SSS of +3%. We are encouraged by the strength in the NA segment, particularly at A&F which has now comped positively for three consecutive quarters. The company has remodeled or right-sized 22 store locations YTD, expects to update 70 total by year end.”

According to TipRanks.com, Anderson is a 4-star analyst with an average return of 5.9% and a 56.3% success rate. Anderson covers the Services sector, focusing on stocks such as Lululemon Athletica Inc, Ascena Retail Group, and Children’s Place.

Abercrombie Fitch has an analyst consensus of Hold, with a price target consensus of $25, implying an 11.8% upside from current levels. In a report released yesterday, William Blair also downgraded the stock to Hold.

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Based on Abercrombie Fitch’s latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $3.85 million. In comparison, last year the company had a GAAP net loss of $15.49 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 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 by David Abercrombie in 1892 and is headquartered in New Albany, OH.