Ascena Retail Group Inc. (NASDAQ:ASNA) had its price target cut by stock analysts at Citigroup Inc. from $8.00 to $7.00 in a research note issued on Tuesday. The brokerage currently has a “neutral” rating on the stock. Citigroup Inc.’s target price suggests a potential upside of 23.02% from the company’s current price.

Several other research firms also recently commented on ASNA. RBC Capital Markets downgraded Ascena Retail Group from an “outperform” rating to a “sector perform” rating and set a $7.00 target price for the company. in a research report on Tuesday. FBR & Co downgraded Ascena Retail Group from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $15.00 to $7.00 in a research report on Tuesday. Telsey Advisory Group dropped their target price on Ascena Retail Group from $9.00 to $7.00 and set a “market perform” rating for the company in a research report on Tuesday. Royal Bank Of Canada downgraded Ascena Retail Group from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $12.00 to $7.00 in a research report on Tuesday. Finally, Zacks Investment Research upgraded Ascena Retail Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 2nd. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Ascena Retail Group has an average rating of “Hold” and a consensus target price of $11.58.

Analyst Recommendations for Ascena Retail Group (NASDAQ:ASNA)

Ascena Retail Group (NASDAQ:ASNA) traded down 29.93% during midday trading on Tuesday, reaching $5.69. The company’s stock had a trading volume of 28,162,253 shares. The firm has a 50 day moving average of $8.03 and a 200 day moving average of $8.34. The firm’s market cap is $1.09 billion. Ascena Retail Group has a 52-week low of $5.66 and a 52-week high of $14.76.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/citigroup-inc-lowers-ascena-retail-group-inc-asna-price-target-to-7-00.html

Ascena Retail Group (NASDAQ:ASNA) last posted its earnings results on Monday, September 19th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.16 by $0.08. The firm earned $1.81 billion during the quarter. Ascena Retail Group had a negative net margin of 5.50% and a positive return on equity of 6.15%. The company’s revenue was up 54.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.06 EPS. Analysts anticipate that Ascena Retail Group will post $0.83 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Ascena Retail Group by 2.4% in the second quarter. Vanguard Group Inc. now owns 12,534,452 shares of the company’s stock worth $87,616,000 after buying an additional 298,703 shares during the period. Stadium Capital Management LLC boosted its stake in shares of Ascena Retail Group by 33.7% in the first quarter. Stadium Capital Management LLC now owns 12,345,927 shares of the company’s stock worth $136,546,000 after buying an additional 3,113,869 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Ascena Retail Group by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 10,889,809 shares of the company’s stock worth $76,120,000 after buying an additional 149,142 shares during the period. Primecap Management Co. CA boosted its stake in shares of Ascena Retail Group by 0.7% in the first quarter. Primecap Management Co. CA now owns 10,242,100 shares of the company’s stock worth $113,278,000 after buying an additional 73,900 shares during the period. Finally, BlackRock Fund Advisors boosted its stake in shares of Ascena Retail Group by 4.7% in the second quarter. BlackRock Fund Advisors now owns 8,558,540 shares of the company’s stock worth $59,824,000 after buying an additional 380,792 shares during the period. 94.47% of the stock is owned by hedge funds and other institutional investors.

About Ascena Retail Group

Ascena Retail Group, Inc is a specialty retailer, which offers clothing, shoes and accessories for missy and plus-size women. The Company offers its products under the Ann Taylor, LOFT, Lane Bryant, maurices, dressbarn, Catherines and Justice brands. It operates through six segments: ANN, Justice, Lane Bryant, maurices, dressbarn and Catherines.

5 Day Chart for NASDAQ:ASNA

Receive News & Ratings for Ascena Retail Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ascena Retail Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.