Royal Bank Of Canada lowered shares of Ascena Retail Group Inc. (NASDAQ:ASNA) from an outperform rating to a sector perform rating in a research note released on Tuesday morning. Royal Bank Of Canada currently has $7.00 price target on the stock, down from their previous price target of $12.00.

Analyst Recommendations for Ascena Retail Group (NASDAQ:ASNA)

ASNA has been the subject of several other reports. Zacks Investment Research raised Ascena Retail Group from a sell rating to a hold rating in a report on Thursday, May 26th. FBR & Co reaffirmed an outperform rating and issued a $15.00 target price (down from $18.00) on shares of Ascena Retail Group in a report on Wednesday, June 1st. Telsey Advisory Group reaffirmed a market perform rating and issued a $10.00 target price (down from $11.00) on shares of Ascena Retail Group in a report on Wednesday, June 1st. Cowen and Company reaffirmed a market perform rating and issued a $8.00 target price (down from $10.00) on shares of Ascena Retail Group in a report on Wednesday, June 1st. Finally, Oppenheimer Holdings Inc. reaffirmed a buy rating on shares of Ascena Retail Group in a report on Wednesday, June 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $11.58.

Ascena Retail Group (NASDAQ:ASNA) opened at 5.91 on Tuesday. Ascena Retail Group has a 52 week low of $5.33 and a 52 week high of $14.76. The stock has a 50 day moving average price of $7.86 and a 200 day moving average price of $8.27. The company’s market cap is $1.13 billion.

Ascena Retail Group (NASDAQ:ASNA) last released its earnings results on Monday, September 19th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.08. The business earned $1.81 billion during the quarter. Ascena Retail Group had a negative net margin of 0.17% and a positive return on equity of 6.18%. The firm’s quarterly revenue was up 54.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 earnings per share. On average, equities analysts forecast that Ascena Retail Group will post $0.63 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stadium Capital Management LLC boosted its position in Ascena Retail Group by 33.7% in the first quarter. Stadium Capital Management LLC now owns 12,345,927 shares of the company’s stock worth $136,546,000 after buying an additional 3,113,869 shares in the last quarter. Coliseum Capital Management LLC boosted its position in Ascena Retail Group by 38.6% in the second quarter. Coliseum Capital Management LLC now owns 5,624,132 shares of the company’s stock worth $39,313,000 after buying an additional 1,565,716 shares in the last quarter. Murphy Michael R boosted its position in Ascena Retail Group by 111.1% in the second quarter. Murphy Michael R now owns 1,840,020 shares of the company’s stock worth $12,862,000 after buying an additional 968,546 shares in the last quarter. Victory Capital Management Inc. boosted its position in Ascena Retail Group by 49.5% in the second quarter. Victory Capital Management Inc. now owns 2,902,418 shares of the company’s stock worth $20,288,000 after buying an additional 961,093 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in Ascena Retail Group by 367.0% in the first quarter. Prudential Financial Inc. now owns 1,052,085 shares of the company’s stock worth $11,636,000 after buying an additional 826,800 shares in the last quarter. 94.47% of the stock is currently owned by institutional investors and hedge funds.

About Ascena Retail Group

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.

5 Day Chart for NASDAQ:ASNA

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