Ascena Retail Group Inc. (NASDAQ:ASNA) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday.

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 equities research analysts have also issued reports on ASNA. Telsey Advisory Group restated a “market perform” rating and issued a $10.00 target price (down previously from $11.00) on shares of Ascena Retail Group in a research note on Wednesday, June 1st. FBR & Co restated an “outperform” rating and issued a $15.00 target price (down previously from $18.00) on shares of Ascena Retail Group in a research note on Wednesday, June 1st. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Ascena Retail Group in a research note on Wednesday, June 1st. Cowen and Company restated a “market perform” rating and issued a $8.00 target price (down previously from $10.00) on shares of Ascena Retail Group in a research note on Wednesday, June 1st. Finally, Royal Bank Of Canada lowered shares of Ascena Retail Group from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $12.00 to $7.00 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Ascena Retail Group presently has an average rating of “Hold” and a consensus price target of $11.58.

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Shares of Ascena Retail Group (NASDAQ:ASNA) traded down 2.11% during midday trading on Wednesday, reaching $5.57. The company’s stock had a trading volume of 13,080,040 shares. The stock has a 50 day moving average of $7.96 and a 200-day moving average of $8.31. Ascena Retail Group has a 1-year low of $5.33 and a 1-year high of $14.76. The company’s market capitalization is $1.07 billion.

Ascena Retail Group (NASDAQ:ASNA) last issued its earnings results on Monday, September 19th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.08. The company earned $1.81 billion during the quarter. Ascena Retail Group had a negative net margin of 0.17% and a positive return on equity of 6.20%. The business’s quarterly revenue was up 54.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.06 EPS. On average, equities research analysts anticipate that Ascena Retail Group will post $0.83 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its position in Ascena Retail Group by 1,026.9% in the second quarter. Tower Research Capital LLC TRC now owns 15,777 shares of the company’s stock valued at $110,000 after buying an additional 14,377 shares during the period. LSV Asset Management bought a new position in Ascena Retail Group during the second quarter valued at about $127,000. Eqis Capital Management Inc. boosted its position in Ascena Retail Group by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 19,209 shares of the company’s stock valued at $134,000 after buying an additional 121 shares during the period. TradeLink Capital LLC boosted its position in Ascena Retail Group by 20.6% in the second quarter. TradeLink Capital LLC now owns 22,031 shares of the company’s stock valued at $154,000 after buying an additional 3,769 shares during the period. Finally, Amalgamated Bank boosted its position in Ascena Retail Group by 10.9% in the second quarter. Amalgamated Bank now owns 21,240 shares of the company’s stock valued at $161,000 after buying an additional 2,093 shares during the period. Institutional investors and hedge funds own 94.47% of the company’s stock.

Ascena Retail Group Company Profile

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

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