Ascena Retail Group (NASDAQ:ASNA) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday. The brokerage currently has a $4.25 price objective on the specialty retailer’s stock. Zacks Investment Research‘s price target indicates a potential upside of 22.83% from the company’s previous close.
According to Zacks, “Ascena Retail Group, Inc, formerly known as The Dress Barn, Inc., operates as a national specialty retailer of apparel for women and girls under the Dressbarn, Maurices and Justice brands. Its Dressbarn stores offer casual, career and special occasion fashion apparel and accessories; Maurices stores offer casual and career apparel and accessories; and Justice stores offer trend-right apparel and accessories. Ascena Retail Group, Inc. is based in Suffern, New York. “
Other equities research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Ascena Retail Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 16th. ValuEngine upgraded shares of Ascena Retail Group from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. Guggenheim reiterated a “hold” rating on shares of Ascena Retail Group in a research note on Tuesday, June 5th. Finally, B. Riley lifted their price target on shares of Ascena Retail Group to $3.50 and gave the stock a “neutral” rating in a research note on Tuesday, June 5th. Six analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $3.44.
Shares of Ascena Retail Group traded down $0.19, hitting $3.46, during midday trading on Wednesday, Marketbeat reports. The company had a trading volume of 1,726,972 shares, compared to its average volume of 2,348,969. The company has a market cap of $712.26 million, a price-to-earnings ratio of 15.73 and a beta of 1.75. The company has a current ratio of 1.28, a quick ratio of 0.57 and a debt-to-equity ratio of 1.91. Ascena Retail Group has a 1-year low of $1.69 and a 1-year high of $4.74.
Ascena Retail Group (NASDAQ:ASNA) last announced its quarterly earnings data on Wednesday, June 6th. The specialty retailer reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.47 billion. Ascena Retail Group had a negative net margin of 1.37% and a negative return on equity of 1.08%. Ascena Retail Group’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the company posted $0.05 earnings per share. research analysts forecast that Ascena Retail Group will post -0.06 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Think Investments LP acquired a new stake in Ascena Retail Group during the first quarter worth $4,763,000. Jane Street Group LLC lifted its holdings in shares of Ascena Retail Group by 384.8% during the first quarter. Jane Street Group LLC now owns 55,647 shares of the specialty retailer’s stock valued at $112,000 after acquiring an additional 44,168 shares during the period. MetLife Investment Advisors LLC lifted its holdings in shares of Ascena Retail Group by 201.0% during the first quarter. MetLife Investment Advisors LLC now owns 84,485 shares of the specialty retailer’s stock valued at $170,000 after acquiring an additional 56,415 shares during the period. Mutual Advisors LLC bought a new position in shares of Ascena Retail Group during the first quarter valued at $757,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Ascena Retail Group by 12.9% during the first quarter. Dimensional Fund Advisors LP now owns 15,118,083 shares of the specialty retailer’s stock valued at $30,387,000 after acquiring an additional 1,723,376 shares during the period. Hedge funds and other institutional investors own 92.32% 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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