Ascena Retail Group (ASNA) Downgraded by BidaskClub

Ascena Retail Group (NASDAQ:ASNA) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

Other equities analysts also recently issued reports about the stock. FBR & Co set a $3.00 target price on shares of Ascena Retail Group and gave the stock a “hold” rating in a research note on Tuesday, October 17th. KeyCorp reaffirmed a “hold” rating on shares of Ascena Retail Group in a research note on Wednesday, October 11th. Zacks Investment Research raised shares of Ascena Retail Group from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine downgraded shares of Ascena Retail Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, B. Riley dropped their target price on shares of Ascena Retail Group from $3.00 to $2.50 and set a “neutral” rating for the company in a research note on Tuesday, December 5th. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $2.75.

Ascena Retail Group (NASDAQ ASNA) opened at $1.88 on Wednesday. Ascena Retail Group has a 12 month low of $1.65 and a 12 month high of $5.50. The firm has a market cap of $370.52, a PE ratio of 13.50 and a beta of 1.93. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.36 and a quick ratio of 0.55.

Ascena Retail Group (NASDAQ:ASNA) last announced its earnings results on Monday, December 4th. The specialty retailer reported $0.11 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.11. Ascena Retail Group had a negative net margin of 16.39% and a positive return on equity of 2.50%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the firm posted $0.18 earnings per share. The company’s revenue was down 5.3% on a year-over-year basis. sell-side analysts anticipate that Ascena Retail Group will post 0.15 EPS for the current year.

In other news, Director Krill Katherine Lawther sold 19,400 shares of Ascena Retail Group stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $2.33, for a total transaction of $45,202.00. Following the completion of the sale, the director now owns 108,957 shares in the company, valued at approximately $253,869.81. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 8.02% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. California Public Employees Retirement System grew its position in shares of Ascena Retail Group by 19.1% during the 4th quarter. California Public Employees Retirement System now owns 2,087,284 shares of the specialty retailer’s stock worth $4,905,000 after buying an additional 335,142 shares during the period. Teacher Retirement System of Texas grew its position in shares of Ascena Retail Group by 298.9% during the 4th quarter. Teacher Retirement System of Texas now owns 49,225 shares of the specialty retailer’s stock worth $116,000 after buying an additional 36,884 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of Ascena Retail Group during the 4th quarter worth approximately $250,000. Schwab Charles Investment Management Inc. grew its position in shares of Ascena Retail Group by 14.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,515,065 shares of the specialty retailer’s stock worth $3,561,000 after buying an additional 193,328 shares during the period. Finally, Sterling Capital Management LLC grew its position in shares of Ascena Retail Group by 1.2% during the 3rd quarter. Sterling Capital Management LLC now owns 4,865,249 shares of the specialty retailer’s stock worth $11,920,000 after buying an additional 55,539 shares during the period. Institutional investors own 95.01% of the company’s stock.

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About Ascena Retail Group

Ascena Retail Group, Inc is a specialty retailer of apparel for women and tween girls. The Company operates through six segments: ANN, Justice, Lane Bryant, maurices, dressbarn and Catherines. The ANN segment offers feminine classics and fashion choices, sold primarily under the Ann Taylor and LOFT brands.

Analyst Recommendations for Ascena Retail Group (NASDAQ:ASNA)

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