Ascena Retail Group, Inc. (ASNA) Given a $3.00 Price Target at FBR & Co

Ascena Retail Group, Inc. (NASDAQ:ASNA) has been assigned a $3.00 price target by FBR & Co in a research note issued on Tuesday, October 17th. The firm currently has a “hold” rating on the specialty retailer’s stock. FBR & Co’s price objective would indicate a potential upside of 49.25% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. BidaskClub cut Ascena Retail Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 23rd. Zacks Investment Research raised Ascena Retail Group from a “sell” rating to a “hold” rating in a research report on Monday, September 18th. KeyCorp reaffirmed a “hold” rating on shares of Ascena Retail Group in a research report on Wednesday, October 11th. Finally, Royal Bank Of Canada set a $3.00 price objective on Ascena Retail Group and gave the company a “hold” rating in a research report on Saturday, October 7th. Three investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $3.50.

Shares of Ascena Retail Group (NASDAQ:ASNA) traded down 2.49% during trading on Tuesday, hitting $1.96. 483,202 shares of the stock traded hands. The company’s 50 day moving average is $2.11 and its 200 day moving average is $2.42. Ascena Retail Group has a 52-week low of $1.65 and a 52-week high of $8.19. The firm’s market cap is $376.30 million.

Ascena Retail Group (NASDAQ:ASNA) last released its quarterly earnings data on Monday, September 25th. The specialty retailer reported $0.05 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the company posted $0.08 earnings per share. The firm’s revenue was down 8.5% on a year-over-year basis. On average, equities research analysts predict that Ascena Retail Group will post $0.17 EPS for the current year.

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A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Ascena Retail Group by 54,175.1% during the first quarter. BlackRock Inc. now owns 21,051,698 shares of the specialty retailer’s stock worth $89,680,000 after acquiring an additional 21,012,911 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Ascena Retail Group by 14.5% in the second quarter. Vanguard Group Inc. now owns 16,634,350 shares of the specialty retailer’s stock valued at $35,763,000 after buying an additional 2,101,044 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Ascena Retail Group by 12.4% in the second quarter. Dimensional Fund Advisors LP now owns 14,899,897 shares of the specialty retailer’s stock valued at $32,035,000 after buying an additional 1,647,310 shares in the last quarter. Sapience Investments LLC increased its stake in shares of Ascena Retail Group by 97.6% in the second quarter. Sapience Investments LLC now owns 5,451,695 shares of the specialty retailer’s stock valued at $11,721,000 after buying an additional 2,692,810 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Ascena Retail Group by 16.4% in the first quarter. State Street Corp now owns 5,157,993 shares of the specialty retailer’s stock valued at $21,976,000 after buying an additional 727,206 shares in the last quarter. Hedge funds and other institutional investors own 95.60% of the company’s stock.

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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