Ascena Retail Group Inc. (NASDAQ:ASNA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Ascena Retail Group, Inc, formerly known as The Dress Barn, Inc., operates as a national specialty retailer of apparel for women and girls under the Dressbarn, Maurices and Justice brands. Its Dressbarn stores offer casual, career and special occasion fashion apparel and accessories; Maurices stores offer casual and career apparel and accessories; and Justice stores offer trend-right apparel and accessories. Ascena Retail Group, Inc. is based in Suffern, New York. “

Several other equities research analysts have also recently weighed in on ASNA. Royal Bank Of Canada cut shares of Ascena Retail Group from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $12.00 to $7.00 in a research report on Tuesday, September 20th. Telsey Advisory Group reduced their price target on shares of Ascena Retail Group from $9.00 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, September 20th. RBC Capital Markets cut shares of Ascena Retail Group from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $12.00 to $7.00 in a report on Tuesday, September 20th. FBR & Co cut shares of Ascena Retail Group from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $15.00 to $7.00 in a report on Tuesday, September 20th. Finally, Citigroup Inc. reduced their price target on shares of Ascena Retail Group from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, September 20th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Ascena Retail Group currently has an average rating of “Hold” and an average target price of $9.80.

Analyst Recommendations for Ascena Retail Group (NASDAQ:ASNA)

Shares of Ascena Retail Group (NASDAQ:ASNA) traded up 4.85% during midday trading on Tuesday, hitting $6.70. 4,477,685 shares of the stock were exchanged. Ascena Retail Group has a 1-year low of $4.68 and a 1-year high of $12.85. The firm’s 50 day moving average is $5.42 and its 200-day moving average is $6.93. The stock’s market capitalization is $1.29 billion.

Ascena Retail Group (NASDAQ:ASNA) last posted its quarterly earnings data on Monday, September 19th. The company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.08. Ascena Retail Group had a positive return on equity of 6.18% and a negative net margin of 0.17%. The firm had revenue of $1.81 billion for the quarter. During the same period in the previous year, the business posted $0.06 EPS. The firm’s revenue for the quarter was up 54.9% compared to the same quarter last year. On average, analysts predict that Ascena Retail Group will post $0.61 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASNA. ICM Asset Management Inc. WA purchased a new position in Ascena Retail Group during the second quarter worth $1,094,000. Chicago Equity Partners LLC purchased a new position in Ascena Retail Group during the second quarter worth $625,000. Strs Ohio raised its position in Ascena Retail Group by 25.7% in the second quarter. Strs Ohio now owns 132,600 shares of the company’s stock worth $926,000 after buying an additional 27,100 shares during the last quarter. Stoneridge Investment Partners LLC raised its position in Ascena Retail Group by 1.3% in the second quarter. Stoneridge Investment Partners LLC now owns 210,434 shares of the company’s stock worth $1,471,000 after buying an additional 2,761 shares during the last quarter. Finally, Gray Financial Group GA ADV ADV raised its position in Ascena Retail Group by 135.8% in the second quarter. Gray Financial Group GA ADV ADV now owns 26,339 shares of the company’s stock worth $184,000 after buying an additional 15,170 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: This story was originally published by [[sitename]] and is the propert of of [[sitename]]. If you are reading this story on another domain, it was copied illegally and reposted in violation of U.S. and international copyright & trademark law. The correct version of this story can be accessed at https://www.thecerbatgem.com/2016/11/22/ascena-retail-group-inc-asna-stock-rating-upgraded-by-zacks-investment-research.html.

Ascena Retail Group Company Profile

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

Receive News & Stock Ratings for Ascena Retail Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ascena Retail Group Inc. and related stocks with our FREE daily email newsletter.