Ascena Retail Group (ASNA) Rating Lowered to Hold at BidaskClub

BidaskClub cut shares of Ascena Retail Group (NASDAQ:ASNA) from a buy rating to a hold rating in a report published on Wednesday, May 9th.

A number of other equities analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Ascena Retail Group from a sell rating to a hold rating in a research report on Tuesday, May 8th. ValuEngine raised shares of Ascena Retail Group from a sell rating to a hold rating in a research report on Monday, April 2nd. Finally, B. Riley reduced their price target on shares of Ascena Retail Group from $2.50 to $2.00 and set a neutral rating on the stock in a research report on Tuesday, March 6th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $2.60.

Ascena Retail Group traded up $0.23, hitting $3.26, during trading hours on Wednesday, according to MarketBeat. The company had a trading volume of 90,410 shares, compared to its average volume of 1,792,733. Ascena Retail Group has a fifty-two week low of $2.87 and a fifty-two week high of $3.34. The company has a market cap of $625.86 million, a P/E ratio of 13.77 and a beta of 1.72. The company has a current ratio of 1.29, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85.



Ascena Retail Group (NASDAQ:ASNA) last announced its quarterly earnings results on Monday, March 5th. The specialty retailer reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.65 billion. Ascena Retail Group had a negative net margin of 16.52% and a positive return on equity of 2.02%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.07) earnings per share. sell-side analysts forecast that Ascena Retail Group will post -0.06 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wedge Capital Management L L P NC lifted its holdings in Ascena Retail Group by 28.6% in the first quarter. Wedge Capital Management L L P NC now owns 136,858 shares of the specialty retailer’s stock worth $275,000 after acquiring an additional 30,417 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in Ascena Retail Group by 298.9% in the fourth quarter. Teacher Retirement System of Texas now owns 49,225 shares of the specialty retailer’s stock worth $116,000 after acquiring an additional 36,884 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Ascena Retail Group by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 1,489,466 shares of the specialty retailer’s stock worth $3,500,000 after acquiring an additional 37,880 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in Ascena Retail Group by 1.8% in the fourth quarter. OppenheimerFunds Inc. now owns 2,175,286 shares of the specialty retailer’s stock worth $5,112,000 after acquiring an additional 38,235 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in Ascena Retail Group by 384.8% in the first quarter. Jane Street Group LLC now owns 55,647 shares of the specialty retailer’s stock worth $112,000 after acquiring an additional 44,168 shares during the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

About Ascena Retail Group

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 six segments: ANN, Justice, Lane Bryant, maurices, dressbarn, and Catherines. It creates, designs, and develops a range of merchandise, including apparel, accessories, footwear, and intimates; lifestyle products comprising cosmetics and bedroom furnishings; and wear-to-work, sportswear, footwear, and social occasion apparel.

Analyst Recommendations for Ascena Retail Group (NASDAQ:ASNA)

Receive News & Ratings for Ascena Retail Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ascena Retail Group and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply