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

BidaskClub cut shares of Ascena Retail Group (NASDAQ:ASNA) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

Other research analysts have also issued research reports about the company. B. Riley lifted their target price on Ascena Retail Group from $3.50 to $4.50 and gave the company a neutral rating in a report on Wednesday, August 15th. Guggenheim reaffirmed a hold rating on shares of Ascena Retail Group in a report on Tuesday, June 5th. Finally, Zacks Investment Research lowered Ascena Retail Group from a buy rating to a hold rating in a report on Friday, June 8th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $3.69.

ASNA stock opened at $4.11 on Friday. The company has a quick ratio of 0.57, a current ratio of 1.28 and a debt-to-equity ratio of 1.91. The stock has a market cap of $851.57 million, a price-to-earnings ratio of 18.68 and a beta of 1.70. Ascena Retail Group has a twelve month low of $1.69 and a twelve month high of $5.28.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. purchased a new position in shares of Ascena Retail Group during the second quarter worth about $100,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Ascena Retail Group during the second quarter worth about $144,000. Strs Ohio grew its holdings in shares of Ascena Retail Group by 28.6% during the second quarter. Strs Ohio now owns 177,200 shares of the specialty retailer’s stock worth $706,000 after purchasing an additional 39,400 shares in the last quarter. BlueMountain Capital Management LLC purchased a new position in shares of Ascena Retail Group during the second quarter worth about $173,000. Finally, Metropolitan Life Insurance Co. NY grew its holdings in shares of Ascena Retail Group by 303.0% during the second quarter. Metropolitan Life Insurance Co. NY now owns 58,170 shares of the specialty retailer’s stock worth $232,000 after purchasing an additional 43,735 shares in the last quarter. 95.01% of the stock is owned by institutional investors.

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.

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Analyst Recommendations for Ascena Retail Group (NASDAQ:ASNA)

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