Zacks Investment Research Lowers Ascena Retail Group (ASNA) to Hold

Zacks Investment Research cut shares of Ascena Retail Group (NASDAQ:ASNA) from a buy rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “Ascena Retail Group, Inc, formerly known as The Dress Barn, Inc., operates as a national specialty retailer of apparel for women and girls under the Dressbarn, Maurices and Justice brands. Its Dressbarn stores offer casual, career and special occasion fashion apparel and accessories; Maurices stores offer casual and career apparel and accessories; and Justice stores offer trend-right apparel and accessories. Ascena Retail Group, Inc. is based in Suffern, New York. “

Several other equities research analysts have also recently weighed in on the company. BidaskClub cut Ascena Retail Group from a buy rating to a hold rating in a report on Wednesday, October 24th. Citigroup increased their target price on Ascena Retail Group from $1.50 to $2.00 and gave the company a sell rating in a report on Wednesday, September 26th. Finally, B. Riley increased their target price on Ascena Retail Group from $3.50 to $4.50 and gave the company a neutral rating in a report on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $3.75.

ASNA stock traded down $0.04 during trading on Tuesday, hitting $4.40. 30,115 shares of the company traded hands, compared to its average volume of 2,283,672. The stock has a market capitalization of $829.01 million, a PE ratio of -215.50 and a beta of 1.68. Ascena Retail Group has a 1 year low of $1.79 and a 1 year high of $5.28. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.25 and a quick ratio of 0.55.

Ascena Retail Group (NASDAQ:ASNA) last issued its earnings results on Monday, September 24th. The specialty retailer reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.05. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Ascena Retail Group had a negative return on equity of 0.59% and a negative net margin of 0.60%. Ascena Retail Group’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 EPS. Analysts anticipate that Ascena Retail Group will post 0.07 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strs Ohio raised its position in Ascena Retail Group by 28.6% during the 2nd quarter. Strs Ohio now owns 177,200 shares of the specialty retailer’s stock valued at $706,000 after purchasing an additional 39,400 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new position in Ascena Retail Group during the 2nd quarter valued at approximately $339,000. Royce & Associates LP raised its position in Ascena Retail Group by 12.0% during the 2nd quarter. Royce & Associates LP now owns 1,382,466 shares of the specialty retailer’s stock valued at $5,509,000 after purchasing an additional 147,998 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Ascena Retail Group by 40.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,026,400 shares of the specialty retailer’s stock valued at $8,075,000 after purchasing an additional 581,400 shares during the last quarter. Finally, Laurion Capital Management LP bought a new position in Ascena Retail Group during the 2nd quarter valued at approximately $686,000. 94.51% of the stock is owned by institutional investors and hedge funds.

Ascena Retail Group Company Profile

Ascena Retail Group, Inc, through its subsidiaries, operates as a specialty retailer of apparel, shoes, and accessories for women and tween girls in the United States, Canada, and Puerto Rico. The company operates through four segments: Premium Fashion, Value Fashion, Plus Fashion, and Kids Fashion. It offers a range of merchandise, including apparel, accessories, footwear, and intimates; and lifestyle products comprising cosmetics and bedroom accessories.

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