Ascena Retail Group (NASDAQ:ASNA) Price Target Lowered to $2.50 at B. Riley

Ascena Retail Group (NASDAQ:ASNA) had its price objective lowered by B. Riley from $3.00 to $2.50 in a research note issued to investors on Tuesday, December 5th, Marketbeat reports. The firm 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.

Several other research firms have also commented on ASNA. BidaskClub raised shares of Ascena Retail Group from a hold rating to a buy rating in a report on Saturday, December 2nd. 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. ValuEngine cut shares of Ascena Retail Group from a buy rating to a hold rating in a research report on Tuesday, November 7th. KeyCorp reissued a hold rating on shares of Ascena Retail Group in a research report on Thursday, November 16th. Finally, FBR & Co set a $3.00 price target on shares of Ascena Retail Group and gave the company a hold rating in a research report on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $2.75.

Ascena Retail Group (NASDAQ:ASNA) traded up $0.04 during midday trading on Tuesday, reaching $2.01. 5,550,469 shares of the company’s stock traded hands, compared to its average volume of 3,153,463. The stock has a market cap of $394.04, a PE ratio of 14.36 and a beta of 1.96. Ascena Retail Group has a fifty-two week low of $1.65 and a fifty-two week high of $7.39. The company has a quick ratio of 0.55, a current ratio of 1.36 and a debt-to-equity ratio of 2.24.

Ascena Retail Group (NASDAQ:ASNA) last issued its quarterly earnings results on Monday, December 4th. The specialty retailer reported $0.11 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.11. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates 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 business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 EPS. analysts forecast that Ascena Retail Group will post 0.15 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in ASNA. Teachers Advisors LLC increased its stake in Ascena Retail Group by 3.9% during the 1st quarter. Teachers Advisors LLC now owns 305,091 shares of the specialty retailer’s stock valued at $1,300,000 after purchasing an additional 11,432 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Ascena Retail Group by 3.8% in the first quarter. Geode Capital Management LLC now owns 1,396,917 shares of the specialty retailer’s stock worth $5,950,000 after acquiring an additional 50,736 shares during the period. Bank of America Corp DE grew its stake in shares of Ascena Retail Group by 136.7% in the first quarter. Bank of America Corp DE now owns 282,269 shares of the specialty retailer’s stock worth $1,203,000 after acquiring an additional 162,997 shares during the period. State Street Corp grew its stake in shares of Ascena Retail Group by 16.4% in the first quarter. State Street Corp now owns 5,157,993 shares of the specialty retailer’s stock worth $21,976,000 after acquiring an additional 727,206 shares during the period. Finally, Metropolitan Life Insurance Co. NY grew its stake in shares of Ascena Retail Group by 2.8% in 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 period. Institutional investors and hedge funds own 95.04% 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.

Analyst Recommendations for Ascena Retail Group (NASDAQ:ASNA)

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