Ascena Retail Group Inc. (NASDAQ:ASNA) shares hit a new 52-week low during trading on Wednesday after Cowen and Company lowered their price target on the stock from $8.00 to $7.00. Cowen and Company currently has a market perform rating on the stock. Ascena Retail Group traded as low as $5.33 and last traded at $5.40, with a volume of 8,717,120 shares traded. The stock had previously closed at $5.69.

A number of other research analysts have also commented on ASNA. Citigroup Inc. cut their target price on Ascena Retail Group from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday. Zacks Investment Research upgraded Ascena Retail Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. RBC Capital Markets lowered 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 note on Tuesday. FBR & Co restated an “outperform” rating and issued a $15.00 target price (down from $18.00) on shares of Ascena Retail Group in a research note on Wednesday, June 1st. Finally, Oppenheimer Holdings Inc. lowered Ascena Retail Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Ascena Retail Group currently has a consensus rating of “Hold” and an average price target of $11.58.

Several hedge funds have recently made changes to their positions in ASNA. Tower Research Capital LLC TRC boosted its stake in shares of 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 last quarter. LSV Asset Management acquired a new stake in shares of Ascena Retail Group during the second quarter valued at approximately $127,000. Eqis Capital Management Inc. boosted its stake in shares of 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 last quarter. TradeLink Capital LLC boosted its stake in shares of 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 last quarter. Finally, Amalgamated Bank boosted its stake in shares of 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 last quarter. Institutional investors own 94.47% of the company’s stock.

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The firm’s market cap is $1.04 billion. The company has a 50 day moving average of $7.96 and a 200 day moving average of $8.31.

Ascena Retail Group (NASDAQ:ASNA) last released its quarterly earnings results on Monday, September 19th. The company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.08. The firm had revenue of $1.81 billion for the quarter. Ascena Retail Group had a positive return on equity of 6.20% and a negative net margin of 0.17%. The company’s revenue was up 54.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 earnings per share. On average, equities analysts expect that Ascena Retail Group Inc. will post $0.83 EPS for the current fiscal year.

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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