ValuEngine Lowers Ascena Retail Group (ASNA) to Hold

ValuEngine downgraded shares of Ascena Retail Group (NASDAQ:ASNA) from a buy rating to a hold rating in a research note released on Monday morning, ValuEngine reports.

Several other equities research analysts have also weighed in on ASNA. Zacks Investment Research lowered Ascena Retail Group from a hold rating to a sell rating in a research report on Friday, March 15th. Telsey Advisory Group dropped their target price on Ascena Retail Group from $5.00 to $4.00 and set a market perform rating on the stock in a research report on Tuesday, December 11th. Finally, BidaskClub lowered Ascena Retail Group from a sell rating to a strong sell rating in a research report on Friday, January 25th. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock currently has a consensus rating of Hold and an average price target of $3.50.

ASNA stock opened at $0.98 on Monday. The company has a current ratio of 1.28, a quick ratio of 0.51 and a debt-to-equity ratio of 1.79. Ascena Retail Group has a 12-month low of $0.97 and a 12-month high of $5.28.

Ascena Retail Group (NASDAQ:ASNA) last posted its quarterly earnings results on Thursday, March 14th. The specialty retailer reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.01). The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.71 billion. Ascena Retail Group had a negative net margin of 1.11% and a negative return on equity of 5.27%. The business’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.12) earnings per share. On average, equities analysts forecast that Ascena Retail Group will post -0.45 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of ASNA. Magnus Financial Group LLC acquired a new stake in Ascena Retail Group in the fourth quarter worth $60,000. Oregon Public Employees Retirement Fund acquired a new position in shares of Ascena Retail Group during the fourth quarter valued at $66,000. NumerixS Investment Technologies Inc acquired a new position in shares of Ascena Retail Group during the fourth quarter valued at $100,000. Municipal Employees Retirement System of Michigan acquired a new position in shares of Ascena Retail Group during the fourth quarter valued at $125,000. Finally, Virtu Financial LLC acquired a new position in shares of Ascena Retail Group during the third quarter valued at $134,000. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

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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