Ascena Retail Group Inc. (NASDAQ:ASNA) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors 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. “

Several other equities analysts also recently weighed in on ASNA. Telsey Advisory Group reiterated 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 reiterated 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. reiterated a “buy” rating on shares of Ascena Retail Group in a research note on Wednesday, June 1st. Cowen and Company reiterated 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 downgraded shares of Ascena Retail Group from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $12.00 to $7.00 in a research note on Tuesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Ascena Retail Group currently has a consensus 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 trading on Wednesday, reaching $5.57. 13,080,140 shares of the company’s stock traded hands. Ascena Retail Group has a 52-week low of $5.33 and a 52-week high of $14.76. The company’s 50-day moving average is $7.96 and its 200 day moving average is $8.31. The company’s market cap is $1.07 billion.

Ascena Retail Group (NASDAQ:ASNA) last posted its earnings results on Monday, September 19th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.16 by $0.08. The business earned $1.81 billion during the quarter. Ascena Retail Group had a positive return on equity of 6.20% and a negative net margin of 0.17%. The firm’s quarterly revenue was up 54.9% on a year-over-year basis. During the same period last year, the firm earned $0.06 EPS. Equities analysts forecast that Ascena Retail Group will post $0.63 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in ASNA. Tower Research Capital LLC TRC raised 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 worth $110,000 after buying an additional 14,377 shares during the period. Springbok Capital Management LLC raised its position in Ascena Retail Group by 136.4% in the first quarter. Springbok Capital Management LLC now owns 18,200 shares of the company’s stock worth $201,000 after buying an additional 10,500 shares during the period. LSV Asset Management purchased a new position in Ascena Retail Group during the second quarter worth approximately $127,000. Eqis Capital Management Inc. raised 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 worth $134,000 after buying an additional 121 shares during the period. Finally, Amalgamated Bank raised 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 worth $161,000 after buying an additional 2,093 shares during the period. Institutional investors own 94.47% of the company’s stock.

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.

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