Ascena Retail Group (ASNA) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Ascena Retail Group (NASDAQ:ASNA) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Several other research analysts have also recently weighed in on the stock. ValuEngine raised shares of Ascena Retail Group from a sell rating to a hold rating in a research report on Monday, April 2nd. Zacks Investment Research cut shares of Ascena Retail Group from a hold rating to a sell rating in a research report on Wednesday, March 7th. Finally, B. Riley lowered their price target on shares of Ascena Retail Group from $2.50 to $2.00 and set a neutral rating on the stock in a research report on Tuesday, March 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $2.60.

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Shares of ASNA stock opened at $2.22 on Friday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.64 and a current ratio of 1.29. The stock has a market cap of $447.32, a PE ratio of 10.09 and a beta of 1.74. Ascena Retail Group has a twelve month low of $1.65 and a twelve month high of $4.11.

Ascena Retail Group (NASDAQ:ASNA) last announced its quarterly earnings results on Monday, March 5th. The specialty retailer reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.65 billion. Ascena Retail Group had a negative net margin of 16.52% and a positive return on equity of 2.02%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) EPS. analysts forecast that Ascena Retail Group will post -0.06 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. Teacher Retirement System of Texas lifted its position in Ascena Retail Group by 298.9% in the fourth quarter. Teacher Retirement System of Texas now owns 49,225 shares of the specialty retailer’s stock valued at $116,000 after buying an additional 36,884 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in Ascena Retail Group in the third quarter valued at about $133,000. Stone Ridge Asset Management LLC acquired a new position in Ascena Retail Group in the fourth quarter valued at about $181,000. Wedge Capital Management L L P NC acquired a new position in Ascena Retail Group in the fourth quarter valued at about $250,000. Finally, JPMorgan Chase & Co. acquired a new position in Ascena Retail Group in the third quarter valued at about $337,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

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About Ascena Retail Group

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 six segments: ANN, Justice, Lane Bryant, maurices, dressbarn, and Catherines. It creates, designs, and develops a range of merchandise, including apparel, accessories, footwear, and intimates; lifestyle products comprising cosmetics and bedroom furnishings; and wear-to-work, sportswear, footwear, and social occasion apparel.

Analyst Recommendations for Ascena Retail Group (NASDAQ:ASNA)

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