Shares of Ascena Retail Group Inc (NASDAQ:ASNA) were down 6.2% during trading on Wednesday . The company traded as low as $4.16 and last traded at $4.27. Approximately 2,410,646 shares were traded during mid-day trading, an increase of 2% from the average daily volume of 2,363,671 shares. The stock had previously closed at $4.55.
A number of equities analysts recently weighed in on ASNA shares. BidaskClub cut Ascena Retail Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 15th. Zacks Investment Research raised Ascena Retail Group from a “hold” rating to a “buy” rating and set a $5.25 price target for the company in a report on Tuesday. B. Riley upped their price target on Ascena Retail Group from $3.50 to $4.50 and gave the stock a “neutral” rating in a report on Wednesday, August 15th. Finally, Citigroup upped their price target on Ascena Retail Group from $1.50 to $2.00 and gave the stock a “sell” rating in a report on Wednesday, September 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Ascena Retail Group presently has a consensus rating of “Hold” and an average target price of $3.69.
The firm has a market capitalization of $897.43 million, a price-to-earnings ratio of -215.00 and a beta of 1.61. The company has a quick ratio of 0.55, a current ratio of 1.25 and a debt-to-equity ratio of 1.66.
Ascena Retail Group (NASDAQ:ASNA) last released its quarterly earnings results on Monday, September 24th. The specialty retailer reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Ascena Retail Group had a negative return on equity of 0.59% and a negative net margin of 0.60%. Ascena Retail Group’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 EPS. On average, research analysts predict that Ascena Retail Group Inc will post 0.07 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASNA. Macquarie Group Ltd. acquired a new position in Ascena Retail Group in the 2nd quarter worth about $100,000. Jane Street Group LLC raised 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 last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Ascena Retail Group during the second quarter valued at approximately $144,000. MetLife Investment Advisors LLC raised 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 last quarter. Finally, BlueMountain Capital Management LLC acquired a new position in shares of Ascena Retail Group during the second quarter valued at approximately $173,000. 94.91% of the stock is owned by institutional investors.
About Ascena Retail Group (NASDAQ:ASNA)
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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