Ascena Retail Group Inc (NASDAQ:ASNA) Receives Average Recommendation of “Hold” from Analysts

Ascena Retail Group Inc (NASDAQ:ASNA) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $1.02.

Several equities analysts have issued reports on ASNA shares. ValuEngine downgraded shares of Ascena Retail Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. B. Riley decreased their price objective on shares of Ascena Retail Group from $2.00 to $1.00 and set a “neutral” rating for the company in a research note on Tuesday, June 11th. Telsey Advisory Group restated a “market perform” rating and issued a $1.00 price objective (down previously from $2.00) on shares of Ascena Retail Group in a research note on Tuesday, June 11th. Zacks Investment Research upgraded shares of Ascena Retail Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th. Finally, Citigroup upgraded shares of Ascena Retail Group from a “sell” rating to a “neutral” rating and set a $1.05 price objective for the company in a research note on Wednesday, April 3rd.

NASDAQ ASNA traded up $0.02 during trading hours on Wednesday, hitting $0.44. The company had a trading volume of 1,776,700 shares, compared to its average volume of 3,560,400. The company has a current ratio of 1.38, a quick ratio of 0.72 and a debt-to-equity ratio of 2.62. Ascena Retail Group has a 1-year low of $0.41 and a 1-year high of $5.28. The stock has a market cap of $90.59 million, a P/E ratio of -22.00 and a beta of 0.98. The firm has a 50 day moving average of $0.60.

Ascena Retail Group (NASDAQ:ASNA) last released its quarterly earnings data on Monday, June 10th. The specialty retailer reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.11. Ascena Retail Group had a negative net margin of 4.28% and a negative return on equity of 10.72%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. Ascena Retail Group’s revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts predict that Ascena Retail Group will post -0.66 earnings per share for the current year.

Several large investors have recently made changes to their positions in the company. New York State Common Retirement Fund grew its stake in shares of Ascena Retail Group by 9.6% during the 4th quarter. New York State Common Retirement Fund now owns 552,389 shares of the specialty retailer’s stock worth $1,386,000 after acquiring an additional 48,400 shares during the period. BlackRock Inc. grew its stake in shares of Ascena Retail Group by 3.4% during the 4th quarter. BlackRock Inc. now owns 25,987,545 shares of the specialty retailer’s stock worth $65,227,000 after acquiring an additional 862,137 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Ascena Retail Group by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 2,031,400 shares of the specialty retailer’s stock worth $5,099,000 after acquiring an additional 12,579 shares during the period. Hsbc Holdings PLC grew its stake in shares of Ascena Retail Group by 35.4% during the 4th quarter. Hsbc Holdings PLC now owns 322,313 shares of the specialty retailer’s stock worth $809,000 after acquiring an additional 84,253 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Ascena Retail Group by 10.8% during the 4th quarter. Geode Capital Management LLC now owns 2,008,390 shares of the specialty retailer’s stock worth $5,041,000 after acquiring an additional 195,132 shares during the period. 98.03% 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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