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

BidaskClub upgraded shares of Ascena Retail Group (NASDAQ:ASNA) from a sell rating to a hold rating in a report published on Tuesday, May 7th, BidAskClub reports.

Several other analysts also recently commented on ASNA. Zacks Investment Research raised shares of Ascena Retail Group from a hold rating to a buy rating and set a $3.50 target price for the company in a report on Tuesday, January 15th. ValuEngine downgraded shares of Ascena Retail Group from a buy rating to a hold rating in a report on Monday, April 1st. Finally, Citigroup raised shares of Ascena Retail Group from a sell rating to a neutral rating and set a $1.05 target price for the company in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $2.64.

ASNA stock traded up $0.01 during midday trading on Tuesday, hitting $1.05. The company’s stock had a trading volume of 4,981,148 shares, compared to its average volume of 3,351,797. 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 twelve month low of $0.93 and a twelve month high of $5.28. The firm has a market capitalization of $205.47 million, a P/E ratio of -52.50 and a beta of 1.40.

Ascena Retail Group (NASDAQ:ASNA) last released its quarterly earnings data on Thursday, March 14th. The specialty retailer reported ($0.26) earnings per share for the quarter, missing the 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 return on equity of 5.27% and a negative net margin of 1.11%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. As a group, equities research analysts forecast that Ascena Retail Group will post -0.48 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of ASNA. Sapience Investments LLC lifted its holdings in shares of Ascena Retail Group by 59.2% during the 1st quarter. Sapience Investments LLC now owns 9,198,151 shares of the specialty retailer’s stock worth $9,934,000 after acquiring an additional 3,420,461 shares during the period. Acadian Asset Management LLC increased its position in Ascena Retail Group by 753.4% during the 4th quarter. Acadian Asset Management LLC now owns 1,271,109 shares of the specialty retailer’s stock worth $3,192,000 after purchasing an additional 1,122,158 shares in the last quarter. BlackRock Inc. increased its position in 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 purchasing an additional 862,137 shares in the last quarter. Norges Bank acquired a new position in Ascena Retail Group during the 4th quarter worth approximately $1,828,000. Finally, Vanguard Group Inc increased its position in Ascena Retail Group by 4.5% during the 3rd quarter. Vanguard Group Inc now owns 16,605,882 shares of the specialty retailer’s stock worth $75,889,000 after purchasing an additional 708,559 shares in the last quarter. 98.04% of the stock is owned by 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.

Read More: Sell-Side Analysts

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