Ascena Retail Group (ASNA) Upgraded to Hold at Zacks Investment Research

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

Several other equities research analysts have also commented on ASNA. B. Riley reissued a “neutral” rating on shares of Ascena Retail Group in a research note on Wednesday, November 1st. BidaskClub lowered shares of Ascena Retail Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 6th. ValuEngine lowered shares of Ascena Retail Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. KeyCorp reissued a “hold” rating on shares of Ascena Retail Group in a research note on Thursday, November 16th. Finally, 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, October 17th. One investment analyst has rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. Ascena Retail Group presently has an average rating of “Hold” and a consensus target price of $2.75.

Ascena Retail Group (NASDAQ ASNA) traded down $0.05 during trading hours on Tuesday, reaching $1.82. 2,762,132 shares of the company traded hands, compared to its average volume of 2,307,517. Ascena Retail Group has a 1-year low of $1.65 and a 1-year high of $5.50. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.36 and a quick ratio of 0.55. The company has a market capitalization of $394.04, a price-to-earnings ratio of -0.33 and a beta of 1.93.

Ascena Retail Group (NASDAQ:ASNA) last posted its quarterly earnings data on Monday, December 4th. The specialty retailer reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. Ascena Retail Group had a negative net margin of 16.39% and a positive return on equity of 2.50%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Ascena Retail Group’s quarterly revenue was down 5.3% on a year-over-year basis. analysts anticipate that Ascena Retail Group will post 0.15 earnings per share for the current year.

In other Ascena Retail Group news, Director Krill Katherine Lawther sold 19,400 shares of Ascena Retail Group stock in a transaction dated Friday, December 28th. The shares were sold at an average price of $2.33, for a total value of $45,202.00. Following the completion of the transaction, the director now directly owns 108,957 shares of the company’s stock, valued at $253,869.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.02% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. M&T Bank Corp raised its holdings in shares of Ascena Retail Group by 2.3% during the second 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. Thrivent Financial For Lutherans raised its holdings in shares of Ascena Retail Group by 4.6% during the second quarter. Thrivent Financial For Lutherans now owns 101,540 shares of the specialty retailer’s stock valued at $218,000 after purchasing an additional 4,420 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Ascena Retail Group by 5.5% during the second quarter. The Manufacturers Life Insurance Company now owns 143,707 shares of the specialty retailer’s stock valued at $309,000 after purchasing an additional 7,435 shares during the last quarter. Nationwide Fund Advisors raised its holdings in shares of Ascena Retail Group by 9.8% during the second quarter. Nationwide Fund Advisors now owns 126,330 shares of the specialty retailer’s stock valued at $272,000 after purchasing an additional 11,296 shares during the last quarter. Finally, Virtu KCG Holdings LLC raised its holdings in shares of Ascena Retail Group by 47.8% during the second 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. 95.01% of the stock is owned by institutional investors and hedge funds.

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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.

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