Ascena Retail Group Inc (NASDAQ:ASNA) Given Consensus Rating of “Hold” by Brokerages

Shares of Ascena Retail Group Inc (NASDAQ:ASNA) have earned a consensus recommendation of “Hold” from the six ratings firms that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $1.02.

A number of research analysts have weighed in on the stock. B. Riley cut their target price on shares of Ascena Retail Group from $2.00 to $1.00 and set a “neutral” rating for the company in a research report on Tuesday, June 11th. Zacks Investment Research raised shares of Ascena Retail Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. Telsey Advisory Group reissued a “market perform” rating and set a $1.00 target price (down previously from $2.00) on shares of Ascena Retail Group in a research report on Tuesday, June 11th. BidaskClub raised shares of Ascena Retail Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 14th. 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 research report on Wednesday, April 3rd.

Ascena Retail Group stock opened at $0.61 on Friday. The firm has a market cap of $112.75 million, a price-to-earnings ratio of -30.50 and a beta of 1.39. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.72 and a current ratio of 1.38. Ascena Retail Group has a fifty-two week low of $0.53 and a fifty-two week high of $5.28. The stock’s fifty day moving average price is $0.99.

Ascena Retail Group (NASDAQ:ASNA) last released its earnings results on Monday, June 10th. The specialty retailer reported ($0.26) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.11. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.43 billion. Ascena Retail Group had a negative net margin of 4.28% and a negative return on equity of 10.72%. The business’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.08) EPS. Analysts forecast that Ascena Retail Group will post -0.66 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Ascena Retail Group by 3.4% during the fourth quarter. BlackRock Inc. now owns 25,987,545 shares of the specialty retailer’s stock valued at $65,227,000 after buying an additional 862,137 shares during the last quarter. Sapience Investments LLC raised its position in shares of Ascena Retail Group by 59.2% during the first quarter. Sapience Investments LLC now owns 9,198,151 shares of the specialty retailer’s stock valued at $9,934,000 after buying an additional 3,420,461 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Ascena Retail Group by 9.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,967,031 shares of the specialty retailer’s stock valued at $7,447,000 after buying an additional 261,330 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Ascena Retail Group by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 2,031,400 shares of the specialty retailer’s stock valued at $5,099,000 after buying an additional 12,579 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Ascena Retail Group by 10.8% during the fourth quarter. Geode Capital Management LLC now owns 2,008,390 shares of the specialty retailer’s stock valued at $5,041,000 after buying an additional 195,132 shares during the last quarter. 97.80% 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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