FBR & Co Analysts Give Ascena Retail Group, Inc. (ASNA) a $3.00 Price Target

FBR & Co set a $3.00 price target on Ascena Retail Group, Inc. (NASDAQ:ASNA) in a research report report published on Tuesday. The brokerage currently has a hold rating on the specialty retailer’s stock.

A number of other research firms also recently commented on ASNA. Zacks Investment Research downgraded Ascena Retail Group from a hold rating to a sell rating in a report on Friday, June 9th. Telsey Advisory Group cut their price objective on Ascena Retail Group from $6.00 to $3.00 and set a market perform rating on the stock in a report on Thursday, May 18th. ValuEngine downgraded Ascena Retail Group from a buy rating to a hold rating in a report on Friday, June 2nd. Cowen and Company restated a market perform rating and issued a $2.00 price objective (down from $6.00) on shares of Ascena Retail Group in a report on Sunday, June 11th. Finally, BidaskClub upgraded Ascena Retail Group from a strong sell rating to a sell rating in a report on Monday, July 31st. Three research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $3.83.

Ascena Retail Group (ASNA) traded down 4.98% during trading on Tuesday, reaching $1.91. The company’s stock had a trading volume of 1,449,828 shares. The company’s market capitalization is $366.53 million. Ascena Retail Group has a 1-year low of $1.65 and a 1-year high of $9.11. The company’s 50-day moving average is $2.23 and its 200-day moving average is $3.25.

Ascena Retail Group (NASDAQ:ASNA) last released its quarterly earnings data on Thursday, June 8th. The specialty retailer reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.54 billion. Ascena Retail Group had a positive return on equity of 2.96% and a negative net margin of 15.25%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the business posted $0.15 EPS. Equities analysts anticipate that Ascena Retail Group will post $0.13 EPS for the current year.

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Several large investors have recently made changes to their positions in ASNA. The Manufacturers Life Insurance Company increased its stake in shares of Ascena Retail Group by 5.5% in the second quarter. The Manufacturers Life Insurance Company now owns 143,707 shares of the specialty retailer’s stock valued at $309,000 after buying an additional 7,435 shares during the last quarter. BlueCrest Capital Management Ltd increased its stake in shares of Ascena Retail Group by 170.6% in the second quarter. BlueCrest Capital Management Ltd now owns 98,515 shares of the specialty retailer’s stock valued at $212,000 after buying an additional 62,110 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Ascena Retail Group by 90.8% in the second quarter. HighTower Advisors LLC now owns 607,614 shares of the specialty retailer’s stock valued at $1,307,000 after buying an additional 289,190 shares during the last quarter. Voya Investment Management LLC increased its stake in shares of Ascena Retail Group by 140.5% in the second quarter. Voya Investment Management LLC now owns 172,852 shares of the specialty retailer’s stock valued at $372,000 after buying an additional 100,968 shares during the last quarter. Finally, OxFORD Asset Management LLP increased its stake in shares of Ascena Retail Group by 117.2% in the second quarter. OxFORD Asset Management LLP now owns 1,182,120 shares of the specialty retailer’s stock valued at $2,542,000 after buying an additional 637,840 shares during the last quarter. Institutional investors and hedge funds own 95.08% 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.

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