Ascena Retail Group (NASDAQ:ASNA) Upgraded to Hold by Zacks Investment Research

Ascena Retail Group (NASDAQ:ASNA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Ascena Retail Group, Inc, formerly known as The Dress Barn, Inc., operates as a national specialty retailer of apparel for women and girls under the Dressbarn, Maurices and Justice brands. Its Dressbarn stores offer casual, career and special occasion fashion apparel and accessories; Maurices stores offer casual and career apparel and accessories; and Justice stores offer trend-right apparel and accessories. Ascena Retail Group, Inc. is based in Suffern, New York. “

A number of other analysts have also commented on the stock. Citigroup upgraded shares of Ascena Retail Group from a “sell” rating to a “neutral” rating and set a $1.05 price target for the company in a research note on Wednesday, April 3rd. ValuEngine lowered shares of Ascena Retail Group from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. B. Riley set a $2.00 price target on shares of Ascena Retail Group and gave the company a “hold” rating in a research note on Friday, May 17th. BidaskClub upgraded shares of Ascena Retail Group from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $1.00 price target (down previously from $2.00) on shares of Ascena Retail Group in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Ascena Retail Group presently has an average rating of “Hold” and an average price target of $1.64.

Shares of ASNA stock opened at $0.88 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 1.38 and a debt-to-equity ratio of 2.62. Ascena Retail Group has a 12 month low of $0.85 and a 12 month high of $5.28.

Ascena Retail Group (NASDAQ:ASNA) last announced its quarterly earnings results on Monday, June 10th. The specialty retailer reported ($0.26) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.11. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.43 billion. Ascena Retail Group had a negative net margin of 4.28% and a negative return on equity of 10.72%. Ascena Retail Group’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.08) EPS. Analysts forecast that Ascena Retail Group will post -0.48 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of ASNA. Weiss Asset Management LP boosted its stake in shares of Ascena Retail Group by 52.1% during the first quarter. Weiss Asset Management LP now owns 44,269 shares of the specialty retailer’s stock valued at $48,000 after purchasing an additional 15,163 shares during the period. Lombard Odier Asset Management USA Corp purchased a new stake in shares of Ascena Retail Group during the first quarter valued at approximately $184,000. AQR Capital Management LLC boosted its stake in shares of Ascena Retail Group by 24.0% during the first quarter. AQR Capital Management LLC now owns 874,472 shares of the specialty retailer’s stock valued at $944,000 after purchasing an additional 168,992 shares during the period. Sapience Investments LLC boosted its stake in shares of Ascena Retail Group by 59.2% during the first quarter. Sapience Investments LLC now owns 9,198,151 shares of the specialty retailer’s stock valued at $9,934,000 after purchasing an additional 3,420,461 shares during the period. Finally, Hancock Whitney Corp boosted its stake in shares of Ascena Retail Group by 8.4% during the first quarter. Hancock Whitney Corp now owns 263,359 shares of the specialty retailer’s stock valued at $284,000 after purchasing an additional 20,418 shares during the period. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

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 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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