Ascena Retail Group, Inc. (NASDAQ:ASNA) PT Lowered to $2.50

Ascena Retail Group, Inc. (NASDAQ:ASNA) had its target price reduced by Royal Bank Of Canada from $5.00 to $2.50 in a research report released on Friday, October 6th, Marketbeat reports. Royal Bank Of Canada currently has a sector perform rating on the specialty retailer’s stock.

Several other research firms have also recently issued reports on ASNA. Zacks Investment Research raised shares of Ascena Retail Group from a sell rating to a hold rating in a research report on Monday, September 18th. BidaskClub cut shares of Ascena Retail Group from a sell rating to a strong sell rating in a research report on Wednesday, August 23rd. FBR & Co set a $3.00 price objective on shares of Ascena Retail Group and gave the company a hold rating in a research report on Tuesday, August 15th. Finally, Cowen and Company reissued a market perform rating and issued a $2.00 price objective (down from $6.00) on shares of Ascena Retail Group in a research report on Sunday, June 11th. Three equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Ascena Retail Group has an average rating of Hold and an average price target of $3.50.

Ascena Retail Group (NASDAQ:ASNA) opened at 1.75 on Friday. The stock has a 50 day moving average price of $2.13 and a 200 day moving average price of $2.52. The company’s market capitalization is $335.98 million. Ascena Retail Group has a 52-week low of $1.65 and a 52-week high of $8.19.

Ascena Retail Group (NASDAQ:ASNA) last released its quarterly earnings results on Monday, September 25th. The specialty retailer reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. Ascena Retail Group had a negative net margin of 16.05% and a positive return on equity of 3.13%. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the company earned $0.08 EPS. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. Equities research analysts forecast that Ascena Retail Group will post $0.17 earnings per share for the current year.

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Institutional investors have recently added to or reduced their stakes in the stock. Peak Capital Management LLC acquired a new stake in Ascena Retail Group during the second quarter worth about $108,000. BNP Paribas Arbitrage SA increased its position in Ascena Retail Group by 45.7% during the second quarter. BNP Paribas Arbitrage SA now owns 109,379 shares of the specialty retailer’s stock worth $235,000 after purchasing an additional 34,295 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in Ascena Retail Group during the first quarter worth about $181,000. Teachers Advisors LLC increased its position in Ascena Retail Group by 3.9% during the first quarter. Teachers Advisors LLC now owns 305,091 shares of the specialty retailer’s stock worth $1,300,000 after purchasing an additional 11,432 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Ascena Retail Group by 93.4% during the second quarter. SG Americas Securities LLC now owns 238,645 shares of the specialty retailer’s stock worth $513,000 after purchasing an additional 115,282 shares during the last quarter. Hedge funds and other institutional investors own 95.59% of the company’s stock.

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.

Analyst Recommendations for Ascena Retail Group (NASDAQ:ASNA)

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