Ascena Retail Group Inc. (NASDAQ:ASNA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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. “

A number of other research firms also recently issued reports on ASNA. Telsey Advisory Group dropped their price objective on shares of Ascena Retail Group from $9.00 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, September 20th. Citigroup Inc. lowered their target price on shares of Ascena Retail Group from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, September 20th. Cowen and Company lowered their target price on shares of Ascena Retail Group from $8.00 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, September 20th. RBC Capital Markets downgraded shares of Ascena Retail Group from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $12.00 to $7.00 in a report on Tuesday, September 20th. Finally, Oppenheimer Holdings Inc. cut shares of Ascena Retail Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $9.80.

Analyst Recommendations for Ascena Retail Group (NASDAQ:ASNA)

Ascena Retail Group (NASDAQ:ASNA) traded down 4.53% during mid-day trading on Tuesday, reaching $6.11. 2,743,449 shares of the company were exchanged. The stock has a 50 day moving average of $5.51 and a 200-day moving average of $6.88. Ascena Retail Group has a one year low of $4.68 and a one year high of $12.85. The stock’s market capitalization is $1.17 billion.

Ascena Retail Group (NASDAQ:ASNA) last announced its quarterly earnings results on Monday, September 19th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates 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 company earned $1.81 billion during the quarter. During the same period in the previous year, the company earned $0.06 EPS. The firm’s revenue for the quarter was up 54.9% on a year-over-year basis. On average, equities analysts expect that Ascena Retail Group will post $0.61 earnings per share for the current fiscal year.

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Large investors have recently modified their holdings of the company. Schafer Cullen Capital Management Inc. boosted its stake in shares of Ascena Retail Group by 19.7% in the third quarter. Schafer Cullen Capital Management Inc. now owns 56,766 shares of the company’s stock worth $317,000 after buying an additional 9,351 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Ascena Retail Group by 66.6% in the third quarter. Ameritas Investment Partners Inc. now owns 67,065 shares of the company’s stock worth $375,000 after buying an additional 26,809 shares during the period. Verition Fund Management LLC acquired a new position in shares of Ascena Retail Group during the third quarter worth about $171,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Ascena Retail Group by 23.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 120,544 shares of the company’s stock worth $674,000 after buying an additional 22,900 shares during the period. Finally, Private Capital Management LLC raised its position in shares of Ascena Retail Group by 6.1% in the third quarter. Private Capital Management LLC now owns 2,579,302 shares of the company’s stock worth $14,418,000 after buying an additional 147,532 shares during the period. 94.38% 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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