Ascena Retail Group (ASNA) Given New $2.50 Price Target at B. Riley
Ascena Retail Group (NASDAQ:ASNA) had its price objective dropped by equities researchers at B. Riley from $3.00 to $2.50 in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm presently has a “neutral” rating on the specialty retailer’s stock. B. Riley’s price target would suggest a potential downside of 4.21% from the company’s previous close.
A number of other brokerages also recently commented on ASNA. BidaskClub raised Ascena Retail Group from a “hold” rating to a “buy” rating in a research report on Saturday. Royal Bank Of Canada decreased their price target on Ascena Retail Group from $5.00 to $2.50 and set a “sector perform” rating for the company in a research report on Friday, October 6th. Zacks Investment Research raised Ascena Retail Group from a “sell” rating to a “hold” rating in a research report on Monday, September 18th. FBR & Co set a $3.00 price target on Ascena Retail Group and gave the company a “hold” rating in a research report on Tuesday, August 15th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Ascena Retail Group in a research report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $3.36.
Shares of Ascena Retail Group (NASDAQ:ASNA) traded up $0.14 during trading on Tuesday, hitting $2.61. The stock had a trading volume of 8,822,600 shares, compared to its average volume of 3,162,554. The stock has a market capitalization of $397.90, a P/E ratio of 11.76 and a beta of 1.96. Ascena Retail Group has a 12-month low of $1.65 and a 12-month high of $8.19. The company has a current ratio of 1.20, a quick ratio of 0.52 and a debt-to-equity ratio of 2.24.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Ascena Retail Group by 14.5% during the second quarter. Vanguard Group Inc. now owns 16,634,350 shares of the specialty retailer’s stock valued at $35,763,000 after purchasing an additional 2,101,044 shares during the period. Dimensional Fund Advisors LP grew its holdings in Ascena Retail Group by 12.4% during the second quarter. Dimensional Fund Advisors LP now owns 14,899,897 shares of the specialty retailer’s stock valued at $32,035,000 after purchasing an additional 1,647,310 shares during the period. Sapience Investments LLC grew its holdings in Ascena Retail Group by 97.6% during the second quarter. Sapience Investments LLC now owns 5,451,695 shares of the specialty retailer’s stock valued at $11,721,000 after purchasing an additional 2,692,810 shares during the period. State Street Corp grew its holdings in Ascena Retail Group by 16.4% during the first quarter. State Street Corp now owns 5,157,993 shares of the specialty retailer’s stock valued at $21,976,000 after purchasing an additional 727,206 shares during the period. Finally, Sterling Capital Management LLC grew its holdings in Ascena Retail Group by 1.2% during the third quarter. Sterling Capital Management LLC now owns 4,865,249 shares of the specialty retailer’s stock valued at $11,920,000 after purchasing an additional 55,539 shares during the period. 95.06% of the stock is owned by institutional investors and hedge funds.
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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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