Ascena Retail Group Inc (NASDAQ:ASNA) Upgraded to “Sell” by BidaskClub
BidaskClub upgraded shares of Ascena Retail Group Inc (NASDAQ:ASNA) from a strong sell rating to a sell rating in a research note released on Monday, July 31st.
Several other equities analysts have also recently issued reports on ASNA. Royal Bank Of Canada set a $5.00 price target on Ascena Retail Group and gave the company a hold rating in a research report on Saturday, May 13th. Cowen and Company restated a market perform rating and issued a $2.00 price target (down previously from $6.00) on shares of Ascena Retail Group in a research report on Sunday, June 11th. ValuEngine cut Ascena Retail Group from a buy rating to a hold rating in a research report on Friday, June 2nd. Zacks Investment Research cut Ascena Retail Group from a hold rating to a sell rating in a research report on Friday, June 9th. Finally, Telsey Advisory Group dropped their target price on Ascena Retail Group from $6.00 to $3.00 and set a market perform rating on the stock in a research report on Thursday, May 18th. Three research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. Ascena Retail Group has a consensus rating of Hold and a consensus price target of $4.50.
Shares of Ascena Retail Group (ASNA) traded up 0.46% during trading on Monday, hitting $2.19. 2,064,460 shares of the company were exchanged. The stock’s market capitalization is $420.26 million. The company has a 50 day moving average of $2.23 and a 200-day moving average of $3.34. Ascena Retail Group has a 1-year low of $1.65 and a 1-year high of $9.12.
Ascena Retail Group (NASDAQ:ASNA) last issued its quarterly earnings results on Thursday, June 8th. The specialty retailer reported $0.05 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Ascena Retail Group had a negative return on equity of 307.11% and a negative net margin of 65.86%. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 EPS. On average, analysts forecast that Ascena Retail Group will post $0.13 earnings per share for the current year.
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Several large investors have recently made changes to their positions in ASNA. BlackRock Inc. raised its stake in shares of Ascena Retail Group by 54,175.1% in the first quarter. BlackRock Inc. now owns 21,051,698 shares of the specialty retailer’s stock valued at $89,680,000 after buying an additional 21,012,911 shares during the period. Nomura Holdings Inc. raised its stake in shares of Ascena Retail Group by 72.5% in the first quarter. Nomura Holdings Inc. now owns 19,090,378 shares of the specialty retailer’s stock valued at $81,377,000 after buying an additional 8,025,583 shares during the period. Sapience Investments LLC raised its stake in shares of Ascena Retail Group by 97.6% in the second quarter. Sapience Investments LLC now owns 5,451,695 shares of the specialty retailer’s stock valued at $11,721,000 after buying an additional 2,692,810 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Ascena Retail Group by 18.9% in the first quarter. Dimensional Fund Advisors LP now owns 13,252,587 shares of the specialty retailer’s stock valued at $56,456,000 after buying an additional 2,102,956 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Ascena Retail Group by 14.5% in the second quarter. Vanguard Group Inc. now owns 16,634,350 shares of the specialty retailer’s stock valued at $35,763,000 after buying an additional 2,101,044 shares during the period. 96.15% of the stock is currently owned by institutional investors and hedge funds.
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.
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