Ascena Retail Group (ASNA) Shares Gap Up to $2.47

Ascena Retail Group Inc (NASDAQ:ASNA) shares gapped up prior to trading on Tuesday . The stock had previously closed at $2.39, but opened at $2.47. Ascena Retail Group shares last traded at $2.61, with a volume of 8822600 shares trading hands.

A number of research analysts have recently weighed in on the company. B. Riley cut their price target on Ascena Retail Group from $3.00 to $2.50 and set a “neutral” rating on the stock in a research note on Tuesday. BidaskClub raised Ascena Retail Group from a “hold” rating to a “buy” rating in a research note on Saturday, December 2nd. Royal Bank Of Canada cut their price target on Ascena Retail Group from $5.00 to $2.50 and set a “sector perform” rating on the stock in a research note on Friday, October 6th. Zacks Investment Research raised Ascena Retail Group from a “sell” rating to a “hold” rating in a research note on Monday, September 18th. Finally, FBR & Co set a $3.00 price target on Ascena Retail Group and gave the company a “hold” rating in a research note on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $3.36.

The firm has a market cap of $411.68, a P/E ratio of 15.00 and a beta of 1.96. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.36 and a quick ratio of 0.52.

Ascena Retail Group (NASDAQ:ASNA) last issued its quarterly earnings data on Monday, December 4th. The specialty retailer reported $0.11 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.11. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. Ascena Retail Group had a positive return on equity of 2.50% and a negative net margin of 16.39%. The firm’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. research analysts forecast that Ascena Retail Group Inc will post 0.15 EPS for the current year.

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Ascena Retail Group by 14.5% during the 2nd quarter. Vanguard Group Inc. now owns 16,634,350 shares of the specialty retailer’s stock worth $35,763,000 after buying an additional 2,101,044 shares during the period. Dimensional Fund Advisors LP raised its stake in Ascena Retail Group by 12.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,899,897 shares of the specialty retailer’s stock worth $32,035,000 after buying an additional 1,647,310 shares during the period. Sapience Investments LLC raised its stake in Ascena Retail Group by 97.6% during the 2nd quarter. Sapience Investments LLC now owns 5,451,695 shares of the specialty retailer’s stock worth $11,721,000 after buying an additional 2,692,810 shares during the period. State Street Corp raised its stake in Ascena Retail Group by 16.4% during the 1st quarter. State Street Corp now owns 5,157,993 shares of the specialty retailer’s stock worth $21,976,000 after buying an additional 727,206 shares during the period. Finally, Sterling Capital Management LLC raised its stake in Ascena Retail Group by 1.2% during the 3rd quarter. Sterling Capital Management LLC now owns 4,865,249 shares of the specialty retailer’s stock worth $11,920,000 after buying an additional 55,539 shares during the period. 95.06% of the stock is currently owned by institutional investors and hedge funds.

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About Ascena Retail Group

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.

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