Zacks Investment Research cut shares of Ascena Retail Group, Inc. (NASDAQ:ASNA) from a hold rating to a sell rating in a research report report published 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 research analysts have also recently weighed in on the company. Royal Bank Of Canada set a $3.00 target price on Ascena Retail Group and gave the company a hold rating in a research note on Saturday. BidaskClub cut Ascena Retail Group from a sell rating to a strong sell rating in a research note on Wednesday, August 23rd. Finally, FBR & Co set a $3.00 target price on Ascena Retail Group and gave the company a hold rating in a research note on Tuesday, August 15th. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The stock has a consensus rating of Hold and an average price target of $3.50.

Shares of Ascena Retail Group (ASNA) opened at 2.11 on Tuesday. The firm’s market cap is $405.10 million. Ascena Retail Group has a 12-month low of $1.65 and a 12-month high of $8.19. The firm has a 50-day moving average price of $2.14 and a 200-day moving average price of $2.57.

Ascena Retail Group (NASDAQ:ASNA) last announced its earnings results on Monday, September 25th. The specialty retailer reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.08. Ascena Retail Group had a positive return on equity of 3.13% and a negative net margin of 16.05%. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the business posted $0.08 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. On average, equities research analysts expect that Ascena Retail Group will post $0.17 earnings per share for the current fiscal year.

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Institutional investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can increased its position in Ascena Retail Group by 3.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 230,087 shares of the specialty retailer’s stock worth $980,000 after purchasing an additional 7,394 shares during the last quarter. First Trust Advisors LP increased its position in Ascena Retail Group by 22.8% in the 1st quarter. First Trust Advisors LP now owns 505,770 shares of the specialty retailer’s stock worth $2,155,000 after purchasing an additional 93,885 shares during the last quarter. Bank of New York Mellon Corp increased its position in Ascena Retail Group by 66.8% in the 1st quarter. Bank of New York Mellon Corp now owns 3,493,619 shares of the specialty retailer’s stock worth $14,882,000 after purchasing an additional 1,398,857 shares during the last quarter. Comerica Bank increased its position in Ascena Retail Group by 3.8% in the 1st quarter. Comerica Bank now owns 187,368 shares of the specialty retailer’s stock worth $755,000 after purchasing an additional 6,888 shares during the last quarter. Finally, Swiss National Bank increased its position in Ascena Retail Group by 3.2% in the 1st quarter. Swiss National Bank now owns 256,588 shares of the specialty retailer’s stock worth $1,093,000 after purchasing an additional 7,900 shares during the last quarter. 95.59% of the stock is owned by hedge funds and other institutional investors.

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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