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

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 recently weighed in on the stock. FBR & Co set a $3.00 price objective on shares of Ascena Retail Group and gave the stock a “hold” rating in a research note on Tuesday, August 15th. BidaskClub upgraded shares of Ascena Retail Group from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Royal Bank Of Canada set a $5.00 price objective on shares of Ascena Retail Group and gave the stock a “hold” rating in a research note on Monday, June 12th. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Ascena Retail Group has a consensus rating of “Hold” and an average price target of $3.50.

Shares of Ascena Retail Group (NASDAQ:ASNA) traded up 3.94% during trading on Tuesday, hitting $2.11. 1,736,734 shares of the stock were exchanged. The stock’s market cap is $405.10 million. Ascena Retail Group has a 12-month low of $1.65 and a 12-month high of $8.19. The stock’s 50 day moving average is $2.13 and its 200-day moving average is $2.58.

Ascena Retail Group (NASDAQ:ASNA) last issued its quarterly earnings data on Monday, September 25th. The specialty retailer reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.08. Ascena Retail Group had a negative net margin of 16.05% and a positive return on equity of 3.13%. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the company earned $0.08 earnings per share. Ascena Retail Group’s revenue for the quarter was down 8.5% on a year-over-year basis. Equities research analysts anticipate that Ascena Retail Group will post $0.17 EPS for the current year.

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Large investors have recently added to or reduced their stakes in the stock. Peak Capital Management LLC acquired a new position in Ascena Retail Group during the 2nd quarter valued at $108,000. Virtu KCG Holdings LLC raised its stake in Ascena Retail Group by 47.8% during the 2nd quarter. Virtu KCG Holdings LLC now owns 67,465 shares of the specialty retailer’s stock valued at $145,000 after purchasing an additional 21,823 shares during the last quarter. BlueCrest Capital Management Ltd raised its stake in Ascena Retail Group by 196.6% during the 1st quarter. BlueCrest Capital Management Ltd now owns 36,405 shares of the specialty retailer’s stock valued at $155,000 after purchasing an additional 24,132 shares during the last quarter. M&T Bank Corp raised its stake in Ascena Retail Group by 2.3% during the 2nd quarter. M&T Bank Corp now owns 78,184 shares of the specialty retailer’s stock valued at $168,000 after purchasing an additional 1,739 shares during the last quarter. Finally, Mason Street Advisors LLC raised its stake in Ascena Retail Group by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 39,622 shares of the specialty retailer’s stock valued at $169,000 after purchasing an additional 2,595 shares during the last quarter. Hedge funds and other institutional investors own 95.59% of the company’s stock.

About Ascena Retail Group

Ascena Retail Group, Inc is a specialty retailer of apparel for women and tween girls. The Company operates through six segments: ANN, Justice, Lane Bryant, maurices, dressbarn and Catherines. The ANN segment offers feminine classics and fashion choices, sold primarily under the Ann Taylor and LOFT brands.

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Analyst Recommendations for Ascena Retail Group (NASDAQ:ASNA)

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