Ascena Retail Group (ASNA) Lifted to Buy at BidaskClub

Ascena Retail Group (NASDAQ:ASNA) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

A number of other research analysts have also recently issued reports on ASNA. Zacks Investment Research upgraded shares of Ascena Retail Group from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th. ValuEngine cut shares of Ascena Retail Group from a “hold” rating to a “sell” rating in a report on Friday, March 9th. Finally, B. Riley decreased their price objective on shares of Ascena Retail Group from $2.50 to $2.00 and set a “neutral” rating for the company in a report on Tuesday, March 6th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Ascena Retail Group currently has an average rating of “Hold” and a consensus price target of $2.60.

Shares of NASDAQ ASNA opened at $3.03 on Wednesday. The company has a market cap of $625.86 million, a P/E ratio of 35.44 and a beta of 1.72. The company has a quick ratio of 0.64, a current ratio of 1.29 and a debt-to-equity ratio of 1.85. Ascena Retail Group has a 52-week low of $2.87 and a 52-week high of $3.34.

Ascena Retail Group (NASDAQ:ASNA) last issued its quarterly earnings data on Monday, March 5th. The specialty retailer reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.07) EPS. equities research analysts predict that Ascena Retail Group will post -0.06 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. OppenheimerFunds Inc. grew its holdings in Ascena Retail Group by 1.8% during the fourth quarter. OppenheimerFunds Inc. now owns 2,175,286 shares of the specialty retailer’s stock valued at $5,112,000 after purchasing an additional 38,235 shares during the period. Two Sigma Advisers LP lifted its stake in Ascena Retail Group by 34.2% in the fourth quarter. Two Sigma Advisers LP now owns 331,070 shares of the specialty retailer’s stock valued at $778,000 after buying an additional 84,300 shares in the last quarter. BlackRock Inc. lifted its stake in Ascena Retail Group by 2.5% in the fourth quarter. BlackRock Inc. now owns 22,179,752 shares of the specialty retailer’s stock valued at $52,123,000 after buying an additional 538,101 shares in the last quarter. Towle & Co. lifted its stake in Ascena Retail Group by 92.2% in the fourth quarter. Towle & Co. now owns 8,368,610 shares of the specialty retailer’s stock valued at $19,666,000 after buying an additional 4,015,210 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Ascena Retail Group by 14.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,515,065 shares of the specialty retailer’s stock valued at $3,561,000 after buying an additional 193,328 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

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 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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