Ascena Retail Group Inc (NASDAQ:ASNA) has received an average rating of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $3.13.
Several brokerages have issued reports on ASNA. BidaskClub cut shares of Ascena Retail Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 15th. Zacks Investment Research raised shares of Ascena Retail Group from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a report on Tuesday, June 5th. Guggenheim reaffirmed a “hold” rating on shares of Ascena Retail Group in a report on Tuesday, June 5th. B. Riley lifted their target price on shares of Ascena Retail Group to $3.50 and gave the stock a “neutral” rating in a report on Tuesday, June 5th. Finally, Citigroup lifted their target price on shares of Ascena Retail Group from $1.50 to $2.00 and gave the stock a “sell” rating in a report on Wednesday.
A number of institutional investors have recently modified their holdings of the business. Northern Trust Corp raised its holdings in Ascena Retail Group by 1.2% in the second quarter. Northern Trust Corp now owns 2,147,686 shares of the specialty retailer’s stock worth $8,559,000 after buying an additional 24,682 shares during the last quarter. Macquarie Group Ltd. purchased a new position in shares of Ascena Retail Group during the second quarter valued at approximately $100,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Ascena Retail Group during the second quarter valued at approximately $144,000. Strs Ohio raised 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 valued at $706,000 after purchasing an additional 39,400 shares during the last quarter. Finally, BlueMountain Capital Management LLC purchased a new position in shares of Ascena Retail Group during the second quarter valued at approximately $173,000. 94.99% of the stock is owned by institutional investors and hedge funds.
Ascena Retail Group (NASDAQ:ASNA) last issued its quarterly earnings results on Monday, September 24th. The specialty retailer reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. Ascena Retail Group had a negative net margin of 0.60% and a negative return on equity of 0.59%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the company posted $0.05 EPS. Ascena Retail Group’s revenue was up 6.5% on a year-over-year basis. research analysts forecast that Ascena Retail Group will post 0.08 earnings per share for the current fiscal year.
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.
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