Ascena Retail Group (NASDAQ:ASNA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and 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. “

A number of other analysts also recently issued reports on ASNA. B. Riley restated a “neutral” rating on shares of Ascena Retail Group in a report on Wednesday, November 1st. BidaskClub upgraded shares of Ascena Retail Group from a “hold” rating to a “buy” rating in a report on Saturday. Royal Bank Of Canada lowered their price objective on shares of 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. FBR & Co set a $3.00 price objective on shares of Ascena Retail Group and gave the stock 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. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $3.36.

Shares of Ascena Retail Group (NASDAQ:ASNA) traded down $0.51 during midday trading on Wednesday, hitting $2.10. 13,140,300 shares of the stock were exchanged, compared to its average volume of 3,205,219. The firm has a market cap of $511.66, a P/E ratio of 18.64 and a beta of 1.96. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.20 and a quick ratio of 0.52. Ascena Retail Group has a fifty-two week low of $1.65 and a fifty-two week high of $8.19.

Ascena Retail Group (NASDAQ:ASNA) last announced its quarterly earnings results on Monday, December 4th. The specialty retailer reported $0.11 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.11. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Ascena Retail Group had a negative net margin of 16.39% and a positive return on equity of 2.32%. The business’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS. equities research analysts forecast that Ascena Retail Group will post 0.23 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the stock. Teachers Advisors LLC boosted its position in Ascena Retail Group by 3.9% in the 1st quarter. Teachers Advisors LLC now owns 305,091 shares of the specialty retailer’s stock valued at $1,300,000 after buying an additional 11,432 shares during the period. Geode Capital Management LLC boosted its position in Ascena Retail Group by 3.8% in the 1st quarter. Geode Capital Management LLC now owns 1,396,917 shares of the specialty retailer’s stock valued at $5,950,000 after buying an additional 50,736 shares during the period. Bank of America Corp DE boosted its position in Ascena Retail Group by 136.7% in the 1st quarter. Bank of America Corp DE now owns 282,269 shares of the specialty retailer’s stock valued at $1,203,000 after buying an additional 162,997 shares during the period. State Street Corp boosted its position in Ascena Retail Group by 16.4% in the 1st quarter. State Street Corp now owns 5,157,993 shares of the specialty retailer’s stock valued at $21,976,000 after buying an additional 727,206 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its position in Ascena Retail Group by 2.8% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 117,550 shares of the specialty retailer’s stock valued at $501,000 after buying an additional 3,217 shares during the period. 95.06% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Ascena Retail Group (ASNA) Downgraded by Zacks Investment Research” was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark law. The legal version of this article can be read at https://www.americanbankingnews.com/2017/12/06/ascena-retail-group-asna-downgraded-by-zacks-investment-research.html.

Ascena Retail Group Company Profile

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.

Get a free copy of the Zacks research report on Ascena Retail Group (ASNA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Ascena Retail Group (NASDAQ:ASNA)

Receive News & Ratings for Ascena Retail Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ascena Retail Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.