Ascena Retail Group Inc (NASDAQ:ASNA) saw a significant decrease in short interest in the month of September. As of September 28th, there was short interest totalling 43,834,793 shares, a decrease of 3.7% from the September 14th total of 45,542,047 shares. Based on an average trading volume of 4,679,842 shares, the days-to-cover ratio is currently 9.4 days. Currently, 28.1% of the shares of the company are short sold.
Shares of ASNA opened at $4.58 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.25 and a quick ratio of 0.55. The stock has a market capitalization of $897.43 million, a price-to-earnings ratio of -229.50 and a beta of 1.61. Ascena Retail Group has a 52 week low of $1.69 and a 52 week high of $5.28.
Ascena Retail Group (NASDAQ:ASNA) last released its earnings results on Monday, September 24th. The specialty retailer reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. Ascena Retail Group had a negative return on equity of 0.59% and a negative net margin of 0.60%. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter last year, the business posted $0.05 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. As a group, research analysts anticipate that Ascena Retail Group will post 0.07 earnings per share for the current fiscal year.
A number of research firms have weighed in on ASNA. BidaskClub downgraded Ascena Retail Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 16th. B. Riley increased their target price on Ascena Retail Group from $3.50 to $4.50 and gave the company a “neutral” rating in a report on Wednesday, August 15th. Citigroup increased their target price on Ascena Retail Group from $1.50 to $2.00 and gave the company a “sell” rating in a report on Wednesday, September 26th. Finally, Zacks Investment Research raised Ascena Retail Group from a “hold” rating to a “strong-buy” rating and set a $4.25 target price on the stock in a report on Wednesday, July 11th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $3.44.
Large investors have recently added to or reduced their stakes in the stock. Strs Ohio grew its position in shares of Ascena Retail Group by 28.6% during the second quarter. Strs Ohio now owns 177,200 shares of the specialty retailer’s stock worth $706,000 after purchasing an additional 39,400 shares in the last quarter. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Ascena Retail Group during the second quarter worth about $339,000. Royce & Associates LP grew its position in shares of Ascena Retail Group by 12.0% during the second quarter. Royce & Associates LP now owns 1,382,466 shares of the specialty retailer’s stock worth $5,509,000 after purchasing an additional 147,998 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Ascena Retail Group by 40.2% during the second quarter. Canada Pension Plan Investment Board now owns 2,026,400 shares of the specialty retailer’s stock worth $8,075,000 after purchasing an additional 581,400 shares in the last quarter. Finally, Laurion Capital Management LP purchased a new stake in shares of Ascena Retail Group during the second quarter worth about $686,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.
Ascena Retail Group Company Profile
Ascena Retail Group, Inc, through its subsidiaries, operates as a specialty retailer of apparel, shoes, and accessories for women and tween girls in the United States, Canada, and Puerto Rico. The company operates through six segments: ANN, Justice, Lane Bryant, maurices, dressbarn, and Catherines. It creates, designs, and develops a range of merchandise, including apparel, accessories, footwear, and intimates; lifestyle products comprising cosmetics and bedroom furnishings; and wear-to-work, sportswear, footwear, and social occasion apparel.
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