BidaskClub Downgrades Ascena Retail Group (ASNA) to Hold
BidaskClub downgraded shares of Ascena Retail Group (NASDAQ:ASNA) from a buy rating to a hold rating in a research note issued to investors on Saturday.
ASNA has been the topic of several other research reports. Zacks Investment Research downgraded Ascena Retail Group from a hold rating to a sell rating in a report on Wednesday, December 6th. B. Riley cut their price target on Ascena Retail Group from $3.00 to $2.50 and set a neutral rating on the stock in a report on Tuesday, December 5th. KeyCorp restated a hold rating on shares of Ascena Retail Group in a report on Thursday, November 16th. ValuEngine downgraded Ascena Retail Group from a buy rating to a hold rating in a report on Tuesday, November 7th. Finally, FBR & Co set a $3.00 price target on Ascena Retail Group and gave the stock a hold rating in a report on Tuesday, October 17th. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. Ascena Retail Group presently has a consensus rating of Hold and an average price target of $2.75.
Ascena Retail Group (ASNA) traded down $0.08 on Friday, reaching $2.06. The company had a trading volume of 2,521,851 shares, compared to its average volume of 2,359,179. Ascena Retail Group has a 1 year low of $1.65 and a 1 year high of $6.13. The company has a current ratio of 1.36, a quick ratio of 0.55 and a debt-to-equity ratio of 2.24. The firm has a market cap of $403.84, a price-to-earnings ratio of -0.37 and a beta of 1.96.
Ascena Retail Group (NASDAQ:ASNA) last posted its earnings results on Monday, December 4th. The specialty retailer reported $0.11 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.11. Ascena Retail Group had a positive return on equity of 2.50% and a negative net margin of 16.39%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the company earned $0.18 EPS. Ascena Retail Group’s revenue was down 5.3% on a year-over-year basis. research analysts anticipate that Ascena Retail Group will post 0.15 earnings per share for the current year.
In other Ascena Retail Group news, Director Krill Katherine Lawther sold 19,400 shares of the company’s stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $2.33, for a total transaction of $45,202.00. Following the sale, the director now owns 108,957 shares in the company, valued at approximately $253,869.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.02% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its holdings in shares of Ascena Retail Group by 1.2% in the 3rd quarter. Sterling Capital Management LLC now owns 4,865,249 shares of the specialty retailer’s stock valued at $11,920,000 after acquiring an additional 55,539 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Ascena Retail Group by 41.8% in the 3rd quarter. California Public Employees Retirement System now owns 1,752,142 shares of the specialty retailer’s stock valued at $4,293,000 after acquiring an additional 516,883 shares during the last quarter. Tenzing Global Management LLC purchased a new position in shares of Ascena Retail Group in the 3rd quarter valued at about $1,593,000. Boothbay Fund Management LLC purchased a new position in shares of Ascena Retail Group in the 3rd quarter valued at about $133,000. Finally, Royce & Associates LP increased its holdings in shares of Ascena Retail Group by 50.1% in the 3rd quarter. Royce & Associates LP now owns 919,468 shares of the specialty retailer’s stock valued at $2,253,000 after acquiring an additional 306,950 shares during the last quarter. Institutional investors and hedge funds own 94.92% of the company’s stock.
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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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