Ascena Retail Group (ASNA) Upgraded to Buy at BidaskClub

BidaskClub upgraded shares of Ascena Retail Group (NASDAQ:ASNA) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

A number of other analysts also recently issued reports on the company. Zacks Investment Research raised Ascena Retail Group from a sell rating to a hold rating in a research report on Tuesday, February 6th. B. Riley cut their price objective on Ascena Retail Group from $2.50 to $2.00 and set a neutral rating for the company in a research report on Tuesday, March 6th. Finally, ValuEngine raised Ascena Retail Group from a sell rating to a hold rating in a research report on Monday, April 2nd. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $2.50.

Shares of ASNA opened at $3.20 on Wednesday. Ascena Retail Group has a 52-week low of $1.67 and a 52-week high of $3.34. The firm has a market capitalization of $627.82 million, a price-to-earnings ratio of 35.56 and a beta of 1.72. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.29 and a quick ratio of 0.64.

Ascena Retail Group (NASDAQ:ASNA) last issued its earnings results on Monday, March 5th. The specialty retailer reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). Ascena Retail Group had a positive return on equity of 2.02% and a negative net margin of 16.52%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the business earned ($0.07) earnings per share. The firm’s revenue was down 1.7% compared to the same quarter last year. sell-side analysts forecast that Ascena Retail Group will post -0.06 EPS for the current fiscal year.

Several large investors have recently modified their holdings of ASNA. Jane Street Group LLC increased its position in shares of Ascena Retail Group by 384.8% during the 1st quarter. Jane Street Group LLC now owns 55,647 shares of the specialty retailer’s stock worth $112,000 after purchasing an additional 44,168 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Ascena Retail Group by 298.9% during the 4th quarter. Teacher Retirement System of Texas now owns 49,225 shares of the specialty retailer’s stock worth $116,000 after purchasing an additional 36,884 shares during the last quarter. MetLife Investment Advisors LLC increased its position in shares of Ascena Retail Group by 201.0% during the 1st quarter. MetLife Investment Advisors LLC now owns 84,485 shares of the specialty retailer’s stock worth $170,000 after purchasing an additional 56,415 shares during the last quarter. Stone Ridge Asset Management LLC acquired a new stake in shares of Ascena Retail Group during the 4th quarter worth about $181,000. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of Ascena Retail Group during the 4th quarter worth about $250,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

About Ascena Retail Group

Ascena Retail Group, Inc, through its subsidiaries, operates as a specialty retailer of apparel, shoes, and accessories for women and tween girls in the United States, Canada, and Puerto Rico. The company operates through six segments: ANN, Justice, Lane Bryant, maurices, dressbarn, and Catherines. It creates, designs, and develops a range of merchandise, including apparel, accessories, footwear, and intimates; lifestyle products comprising cosmetics and bedroom furnishings; and wear-to-work, sportswear, footwear, and social occasion apparel.

Analyst Recommendations for Ascena Retail Group (NASDAQ:ASNA)

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