Abercrombie Fitch Gets a Sell Rating from Oppenheimer

By Carrie Williams

Oppenheimer analyst Anna Andreeva reiterated a Sell rating on Abercrombie Fitch (NYSE: ANF) today. The company’s shares opened today at $13.67.

Andreeva wrote:

“ANF appears to be in-play, with recent speculation on private equity/competitors (AEO/EXPR, we think competitor take-out is unlikely) expressing interest (per WSJ), albeit fundamentals continue to be difficult. A&F comps were down DD for 3rd quarter in a row (further step-down on 2-year at -18% vs. -15% in 4Q16), gross margins miss at -180 bps was even below us at -150 bps (Street was at -110 bps), and still some carryover is leading to continuation of heightened promotions in 2Q17. Hollister comps +3% are a positive (albeit slowed 2-points on 2-year), with the brand now out- comping AE for the second quarter in a row.”

According to TipRanks.com, Andreeva is a 3-star analyst with an average return of 1.7% and a 43.4% success rate. Andreeva covers the Services sector, focusing on stocks such as Ascena Retail Group, Children’s Place, and Urban Outfitters.

Currently, the analyst consensus on Abercrombie Fitch is Moderate Sell and the average price target is $12, representing a -12.2% downside.

In a report issued on May 11, Wunderlich also downgraded the stock to Sell.

The company has a one year high of $23.29 and a one year low of $10.50. Currently, Abercrombie Fitch has an average volume of 4.18M.

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Abercrombie & Fitch Co. engages in the retail of apparel, personal care products and accessories. It also operates stores and direct-to-consumer operations. It sells casual sportswear apparel, including knit and woven shirts, graphic t-shirts, fleece, jeans and woven pants, shorts, sweaters, outerwear, personal care products and accessories for men, women and kids under the Abercrombie & Fitch, Abercrombie, Hollister, RUEHL brands and Gilly Hicks brand. It operates through the Abercrombie and Hollister segments. The Abercrombie segment includes brands Abercrombie and Fitch and Abercrombie Kids. The company was founded in 1892 and is headquartered in New Albany, OH.