B. Riley Lowers Ascena Retail Group (ASNA) Price Target to $2.50

Ascena Retail Group (NASDAQ:ASNA) had its target price decreased by B. Riley from $3.00 to $2.50 in a research note published on Tuesday, Marketbeat reports. B. Riley currently has a neutral rating on the specialty retailer’s stock. B. Riley also issued estimates for Ascena Retail Group’s Q2 2018 earnings at ($0.09) EPS, Q3 2018 earnings at $0.04 EPS, Q4 2018 earnings at $0.03 EPS, FY2018 earnings at $0.09 EPS and FY2019 earnings at $0.21 EPS.

A number of other research analysts have also recently issued reports on the stock. KeyCorp reaffirmed a hold rating on shares of Ascena Retail Group in a report on Wednesday, October 11th. Zacks Investment Research cut shares of Ascena Retail Group from a hold rating to a sell rating in a report on Tuesday, October 10th. FBR & Co set a $3.00 target price on shares of Ascena Retail Group and gave the company a hold rating in a report on Tuesday, October 17th. ValuEngine cut shares of Ascena Retail Group from a buy rating to a hold rating in a report on Tuesday, November 7th. Finally, 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. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $3.36.

Shares of Ascena Retail Group (NASDAQ:ASNA) remained flat at $$1.99 during trading hours on Tuesday. 1,778,076 shares of the stock were exchanged, compared to its average volume of 2,836,056. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.36 and a quick ratio of 0.52. The stock has a market cap of $390.12, a price-to-earnings ratio of 14.21 and a beta of 1.96. Ascena Retail Group has a 52-week low of $1.65 and a 52-week high of $8.19.

Ascena Retail Group (NASDAQ:ASNA) last announced its quarterly earnings data on Monday, December 4th. The specialty retailer reported $0.11 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.11. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Ascena Retail Group had a negative net margin of 16.39% and a positive return on equity of 2.50%. The firm’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 earnings per share. analysts anticipate that Ascena Retail Group will post 0.15 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Texas Permanent School Fund boosted its position in Ascena Retail Group by 0.9% during the second quarter. Texas Permanent School Fund now owns 123,823 shares of the specialty retailer’s stock worth $266,000 after acquiring an additional 1,145 shares during the last quarter. M&T Bank Corp boosted its position in Ascena Retail Group by 2.3% during the second quarter. M&T Bank Corp now owns 78,184 shares of the specialty retailer’s stock worth $168,000 after acquiring an additional 1,739 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in Ascena Retail Group by 2.8% during the first quarter. Metropolitan Life Insurance Co. NY now owns 117,550 shares of the specialty retailer’s stock worth $501,000 after acquiring an additional 3,217 shares during the last quarter. Thrivent Financial For Lutherans boosted its position in Ascena Retail Group by 4.6% during the second quarter. Thrivent Financial For Lutherans now owns 101,540 shares of the specialty retailer’s stock worth $218,000 after acquiring an additional 4,420 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Ascena Retail Group by 0.4% during the second quarter. Principal Financial Group Inc. now owns 1,317,805 shares of the specialty retailer’s stock worth $2,833,000 after acquiring an additional 4,802 shares during the last quarter. Hedge funds and other institutional investors own 95.06% of the company’s stock.

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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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