Ascena Retail Group (ASNA) Shares Gap Down to $3.25

Ascena Retail Group Inc (NASDAQ:ASNA)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $3.33, but opened at $3.25. Ascena Retail Group shares last traded at $3.09, with a volume of 2491677 shares changing hands.

Several equities analysts have weighed in on the company. Zacks Investment Research raised Ascena Retail Group from a “hold” rating to a “buy” rating and set a $4.75 target price on the stock in a research note on Wednesday, November 7th. BidaskClub cut Ascena Retail Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. B. Riley reissued a “neutral” rating on shares of Ascena Retail Group in a research note on Wednesday, November 14th. Telsey Advisory Group lowered their price target on Ascena Retail Group from $5.00 to $4.00 and set a “market perform” rating for the company in a research note on Tuesday, December 11th. Finally, Citigroup boosted their price target on Ascena Retail Group from $1.50 to $2.00 and gave the company a “sell” rating in a research note on Wednesday, September 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $3.81.

The company has a market cap of $540.98 million, a P/E ratio of -154.50 and a beta of 1.60. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.28 and a quick ratio of 0.45.

Ascena Retail Group (NASDAQ:ASNA) last announced its quarterly earnings results on Monday, December 10th. The specialty retailer reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Ascena Retail Group had a negative return on equity of 1.70% and a negative net margin of 0.61%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 EPS. Equities analysts anticipate that Ascena Retail Group Inc will post 0.07 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in ASNA. Russell Investments Group Ltd. acquired a new stake in Ascena Retail Group in the 2nd quarter worth approximately $408,000. BlackRock Inc. lifted its holdings in Ascena Retail Group by 8.2% in the 2nd quarter. BlackRock Inc. now owns 24,127,097 shares of the specialty retailer’s stock worth $96,147,000 after purchasing an additional 1,820,104 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Ascena Retail Group by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 16,413,070 shares of the specialty retailer’s stock worth $65,408,000 after purchasing an additional 1,294,987 shares during the last quarter. BlueMountain Capital Management LLC acquired a new stake in Ascena Retail Group in the 2nd quarter worth approximately $173,000. Finally, Renaissance Technologies LLC lifted its holdings in Ascena Retail Group by 132.8% in the 2nd quarter. Renaissance Technologies LLC now owns 4,678,200 shares of the specialty retailer’s stock worth $18,643,000 after purchasing an additional 2,668,900 shares during the last quarter. 98.68% of the stock is owned by institutional investors and hedge funds.

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About Ascena Retail Group (NASDAQ:ASNA)

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 four segments: Premium Fashion, Value Fashion, Plus Fashion, and Kids Fashion. It offers a range of merchandise, including apparel, accessories, footwear, and intimates; and lifestyle products comprising cosmetics and bedroom accessories.

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