Ascena Retail Group (ASNA) Downgraded to Sell at Zacks Investment Research

Ascena Retail Group (NASDAQ:ASNA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

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. “

ASNA has been the subject of several other research reports. B. Riley decreased their price target on Ascena Retail Group from $3.00 to $2.50 and set a “neutral” rating for the company in a research note on Tuesday. Royal Bank Of Canada decreased their price target on Ascena Retail Group from $5.00 to $2.50 and set a “sector perform” rating for the company in a research note on Friday, October 6th. FBR & Co set a $3.00 price target on Ascena Retail Group and gave the stock a “hold” rating in a research note on Tuesday, October 17th. BidaskClub downgraded Ascena Retail Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Finally, KeyCorp reiterated a “hold” rating on shares of Ascena Retail Group in a research note on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $3.36.

Ascena Retail Group (ASNA) traded down $0.51 on Wednesday, hitting $2.10. The stock had a trading volume of 13,140,300 shares, compared to its average volume of 3,205,219. The company has a market cap of $511.66, a P/E ratio of 18.64 and a beta of 1.96. Ascena Retail Group has a 52 week low of $1.65 and a 52 week high of $8.19. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.52 and a current ratio of 1.20.

Ascena Retail Group (NASDAQ:ASNA) last released its quarterly earnings results on Monday, December 4th. The specialty retailer reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Ascena Retail Group had a positive return on equity of 2.32% and a negative net margin of 16.39%. The firm’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 EPS. research analysts predict that Ascena Retail Group will post 0.23 EPS for the current year.

A number of large investors have recently made changes to their positions in the stock. Texas Permanent School Fund boosted its stake in Ascena Retail Group by 0.9% during the 2nd quarter. Texas Permanent School Fund now owns 123,823 shares of the specialty retailer’s stock valued at $266,000 after purchasing an additional 1,145 shares during the period. M&T Bank Corp raised its holdings in Ascena Retail Group by 2.3% in the 2nd quarter. M&T Bank Corp now owns 78,184 shares of the specialty retailer’s stock valued at $168,000 after acquiring an additional 1,739 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in Ascena Retail Group by 2.8% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 117,550 shares of the specialty retailer’s stock valued at $501,000 after acquiring an additional 3,217 shares in the last quarter. Thrivent Financial For Lutherans raised its holdings in Ascena Retail Group by 4.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 101,540 shares of the specialty retailer’s stock valued at $218,000 after acquiring an additional 4,420 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Ascena Retail Group by 0.4% in the 2nd quarter. Principal Financial Group Inc. now owns 1,317,805 shares of the specialty retailer’s stock valued at $2,833,000 after acquiring an additional 4,802 shares in the last quarter. Hedge funds and other institutional investors own 95.06% of the company’s stock.

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Ascena Retail Group Company Profile

Ascena Retail Group, Inc is a specialty retailer of apparel for women and tween girls. The Company operates through six segments: ANN, Justice, Lane Bryant, maurices, dressbarn and Catherines. The ANN segment offers feminine classics and fashion choices, sold primarily under the Ann Taylor and LOFT brands.

Analyst Recommendations for Ascena Retail Group (NASDAQ:ASNA)

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