Ascena Retail Group, Inc. (ASNA) PT Set at $3.00 by FBR & Co

Ascena Retail Group, Inc. (NASDAQ:ASNA) received a $3.00 price objective from equities research analysts at FBR & Co in a research note issued on Tuesday, October 17th. The brokerage currently has a “hold” rating on the specialty retailer’s stock. FBR & Co’s price objective would suggest a potential upside of 53.45% from the company’s current price.

Other research analysts also recently issued research reports about the stock. KeyCorp restated a “hold” rating on shares of Ascena Retail Group in a report on Wednesday, October 11th. Zacks Investment Research upgraded shares of Ascena Retail Group from a “sell” rating to a “hold” rating in a report on Monday, September 18th. Royal Bank Of Canada set a $3.00 target price on shares of Ascena Retail Group and gave the company a “hold” rating in a report on Saturday, October 7th. Finally, BidaskClub upgraded shares of Ascena Retail Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Three equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $3.50.

Ascena Retail Group (NASDAQ ASNA) traded up $0.01 on Tuesday, reaching $1.96. 2,100,857 shares of the company’s stock traded hands, compared to its average volume of 2,237,170. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.52 and a current ratio of 1.20. Ascena Retail Group has a 1 year low of $1.65 and a 1 year high of $8.19. The firm has a market capitalization of $382.21, a P/E ratio of 9.29 and a beta of 1.88.

Ascena Retail Group (NASDAQ:ASNA) last released its quarterly earnings data on Monday, September 25th. The specialty retailer reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the company posted $0.08 earnings per share. The business’s revenue was down 8.5% on a year-over-year basis. analysts forecast that Ascena Retail Group will post 0.23 earnings per share for the current year.

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Large investors have recently modified their holdings of the business. Northwestern Mutual Investment Management Company LLC bought a new position in Ascena Retail Group during the second quarter worth about $206,000. BlueCrest Capital Management Ltd boosted its position in Ascena Retail Group by 196.6% during the first quarter. BlueCrest Capital Management Ltd now owns 36,405 shares of the specialty retailer’s stock worth $155,000 after purchasing an additional 24,132 shares during the period. Mason Street Advisors LLC boosted its position in Ascena Retail Group by 7.0% during the first quarter. Mason Street Advisors LLC now owns 39,622 shares of the specialty retailer’s stock worth $169,000 after purchasing an additional 2,595 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Ascena Retail Group during the first quarter worth about $181,000. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Ascena Retail Group by 36.6% in the first quarter. Public Employees Retirement System of Ohio now owns 46,164 shares of the specialty retailer’s stock valued at $197,000 after acquiring an additional 12,362 shares during the period. Hedge funds and other institutional investors own 94.81% of the company’s stock.

About Ascena Retail Group

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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