Ascena Retail Group Inc (NASDAQ:ASNA) Receives Average Recommendation of “Hold” from Analysts

Shares of Ascena Retail Group Inc (NASDAQ:ASNA) have received an average rating of “Hold” from the six research firms that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $1.02.

A number of research firms have weighed in on ASNA. ValuEngine upgraded shares of Ascena Retail Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. BidaskClub upgraded shares of Ascena Retail Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 14th. Telsey Advisory Group reiterated a “market perform” rating and issued a $1.00 target price (down from $2.00) on shares of Ascena Retail Group in a research report on Tuesday, June 11th. Zacks Investment Research upgraded shares of Ascena Retail Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. Finally, B. Riley reduced their target price on shares of Ascena Retail Group from $2.00 to $1.00 and set a “neutral” rating for the company in a research report on Tuesday, June 11th.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bourgeon Capital Management LLC raised its position in shares of Ascena Retail Group by 71.4% in the first quarter. Bourgeon Capital Management LLC now owns 36,000 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 15,000 shares during the last quarter. Weiss Asset Management LP increased its position in Ascena Retail Group by 52.1% during the first quarter. Weiss Asset Management LP now owns 44,269 shares of the specialty retailer’s stock worth $48,000 after purchasing an additional 15,163 shares during the last quarter. Matrix Asset Advisors Inc. NY acquired a new stake in Ascena Retail Group during the first quarter worth about $36,000. Everence Capital Management Inc. increased its position in Ascena Retail Group by 138.4% during the first quarter. Everence Capital Management Inc. now owns 59,160 shares of the specialty retailer’s stock worth $64,000 after purchasing an additional 34,340 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Ascena Retail Group during the first quarter worth about $38,000. Institutional investors and hedge funds own 97.95% of the company’s stock.

NASDAQ:ASNA traded down $0.02 during trading hours on Friday, reaching $0.26. 988,942 shares of the company were exchanged, compared to its average volume of 2,205,837. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.72 and a current ratio of 1.38. The stock’s 50-day moving average is $0.42 and its 200-day moving average is $1.12. Ascena Retail Group has a twelve month low of $0.22 and a twelve month high of $5.08.

Ascena Retail Group (NASDAQ:ASNA) last posted its quarterly earnings data on Monday, June 10th. The specialty retailer reported ($0.26) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.11. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Ascena Retail Group had a negative net margin of 4.28% and a negative return on equity of 10.72%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) earnings per share. As a group, research analysts forecast that Ascena Retail Group will post -0.66 earnings per share for the current fiscal year.

About Ascena Retail Group

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 four segments: Premium Fashion, Value Fashion, Plus Fashion, and Kids Fashion. It offers a range of merchandise, including apparel, accessories, footwear, and intimates; and lifestyle products comprising cosmetics and bedroom accessories.

Read More: Buy-Side Analysts

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