Ascena Retail Group Inc. (NASDAQ:ASNA) shares dropped 6.6% during trading on Tuesday . The stock traded as low as $7.99 and last traded at $8.10, with a volume of 1,938,102 shares changing hands. The stock had previously closed at $8.67.

ASNA has been the subject of several analyst reports. Zacks Investment Research raised shares of Ascena Retail Group from a “sell” rating to a “hold” rating in a report on Thursday, May 26th. Telsey Advisory Group reissued a “market perform” rating and issued a $10.00 price target (down from $11.00) on shares of Ascena Retail Group in a report on Wednesday, June 1st. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Ascena Retail Group in a report on Wednesday, June 1st. Cowen and Company reissued a “market perform” rating and issued a $8.00 price target (down from $10.00) on shares of Ascena Retail Group in a report on Wednesday, June 1st. Finally, FBR & Co reissued an “outperform” rating and issued a $15.00 price target (down from $18.00) on shares of Ascena Retail Group in a report on Wednesday, June 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $13.73.

The company has a 50-day moving average price of $8.06 and a 200 day moving average price of $8.36. The firm’s market cap is $1.52 billion.

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

In other Ascena Retail Group news, CFO Robert Giammatteo bought 5,000 shares of Ascena Retail Group stock in a transaction on Thursday, June 2nd. The stock was 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 in the company, valued at $105,388.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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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