BidaskClub Downgrades Ascena Retail Group (ASNA) to Sell

BidaskClub cut shares of Ascena Retail Group (NASDAQ:ASNA) from a hold rating to a sell rating in a research report released on Thursday.

Other equities analysts also recently issued reports about the company. Citigroup raised their price objective on Ascena Retail Group from $1.50 to $2.00 and gave the company a sell rating in a research note on Wednesday, September 26th. B. Riley raised their price objective on Ascena Retail Group from $3.50 to $4.50 and gave the company a neutral rating in a research note on Wednesday, August 15th. Finally, Zacks Investment Research downgraded Ascena Retail Group from a buy rating to a hold rating in a research note on Tuesday, August 7th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Ascena Retail Group has an average rating of Hold and an average price target of $3.75.

NASDAQ ASNA opened at $3.16 on Thursday. 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 quick ratio of 0.55 and a current ratio of 1.25.

Ascena Retail Group (NASDAQ:ASNA) last released its quarterly earnings data 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. Ascena Retail Group had a negative return on equity of 0.59% and a negative net margin of 0.60%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the business posted $0.05 EPS. Ascena Retail Group’s quarterly revenue was up 6.5% on a year-over-year basis. On average, research analysts predict that Ascena Retail Group will post 0.07 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. acquired a new stake in Ascena Retail Group during the 2nd quarter valued at $100,000. Bourgeon Capital Management LLC acquired a new stake in Ascena Retail Group during the 3rd quarter valued at $128,000. Virtu Financial LLC acquired a new stake in Ascena Retail Group during the 3rd quarter valued at $134,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Ascena Retail Group during the 2nd quarter valued at $144,000. Finally, BlueMountain Capital Management LLC acquired a new stake in Ascena Retail Group during the 2nd quarter valued at $173,000. 97.74% of the stock is 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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