Ascena Retail Group Inc. (NASDAQ:ASNA) saw strong trading volume on Tuesday . 2,906,520 shares traded hands during mid-day trading, an increase of 40% from the previous session’s volume of 2,080,990 shares.The stock last traded at $8.51 and had previously closed at $8.31.

Several research analysts have issued reports on the company. Zacks Investment Research cut Ascena Retail Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 17th. FBR & Co reaffirmed an “outperform” rating and set a $15.00 price objective (down from $18.00) on shares of Ascena Retail Group in a research report on Wednesday, June 1st. Cowen and Company reaffirmed a “market perform” rating and set a $8.00 price objective (down from $10.00) on shares of Ascena Retail Group in a research report on Wednesday, June 1st. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Ascena Retail Group in a research report on Wednesday, June 1st. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $10.00 price objective (down from $11.00) on shares of Ascena Retail Group in a research report on Wednesday, June 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Ascena Retail Group has an average rating of “Hold” and an average price target of $13.73.

The firm’s market cap is $1.63 billion. The stock’s 50 day moving average is $7.60 and its 200 day moving average is $8.24.

Ascena Retail Group (NASDAQ:ASNA) last announced its quarterly earnings data on Tuesday, May 31st. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The firm earned $1.67 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the company posted $0.18 earnings per share. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. On average, analysts forecast that Ascena Retail Group Inc. will post $0.69 earnings per share for the current fiscal year.

In other news, CFO Robert Giammatteo acquired 5,000 shares of the business’s stock in a transaction dated Thursday, June 2nd. The shares were acquired at an average cost of $7.18 per share, with a total value of $35,900.00. Following the completion of the acquisition, the chief financial officer now owns 14,678 shares of the company’s stock, valued at $105,388.04. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

A hedge fund recently raised its stake in Ascena Retail Group stock. New York State Common Retirement Fund increased its position in Ascena Retail Group Inc. (NASDAQ:ASNA) by 19.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 316,989 shares of the company’s stock after buying an additional 52,506 shares during the period. New York State Common Retirement Fund owned approximately 0.16% of Ascena Retail Group worth $3,122,000 as of its most recent SEC filing.

Ascena Retail Group, Inc is a specialty retailer, which offers clothing, shoes and accessories for missy and plus-size women. The Company offers its products under the Ann Taylor, LOFT, Lane Bryant, maurices, dressbarn, Catherines and Justice brands. It operates through six segments: ANN, Justice, Lane Bryant, maurices, dressbarn and Catherines.

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