Ascena Retail Group (ASNA) Stock Rating Lowered by Zacks Investment Research

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

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

Shares of ASNA opened at $4.28 on Tuesday. Ascena Retail Group has a one year low of $1.79 and a one year high of $5.28. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.55 and a current ratio of 1.25.

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

Several hedge funds have recently bought and sold shares of ASNA. Macquarie Group Ltd. acquired a new stake in shares of Ascena Retail Group during the second quarter worth approximately $100,000. Jane Street Group LLC boosted its holdings in shares of Ascena Retail Group by 384.8% during the first quarter. Jane Street Group LLC now owns 55,647 shares of the specialty retailer’s stock worth $112,000 after purchasing an additional 44,168 shares during the period. Bourgeon Capital Management LLC acquired a new stake in shares of Ascena Retail Group during the third quarter worth approximately $128,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Ascena Retail Group during the second quarter worth approximately $144,000. Finally, BlueMountain Capital Management LLC acquired a new stake in shares of Ascena Retail Group during the second quarter worth approximately $173,000. Institutional investors and hedge funds own 94.51% of the company’s stock.

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 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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