Ascena Retail Group Inc (ASNA) Sets New 12-Month Low Following Analyst Downgrade

Shares of Ascena Retail Group Inc (NASDAQ:ASNA) hit a new 52-week low on Thursday after Telsey Advisory Group lowered their price target on the stock from $6.00 to $3.00. Telsey Advisory Group currently has a market perform rating on the stock. Ascena Retail Group traded as low as $1.96 and last traded at $1.96, with a volume of 23,756,564 shares traded. The stock had previously closed at $2.82.

A number of other brokerages have also weighed in on ASNA. Cowen and Company reaffirmed a “market perform” rating and issued a $6.00 price target (down from $7.00) on shares of Ascena Retail Group in a research note on Thursday, January 19th. Royal Bank of Canada set a $5.00 target price on shares of Ascena Retail Group and gave the stock a “sector perform” rating in a report on Thursday, January 19th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Ascena Retail Group in a report on Wednesday, January 18th. Guggenheim initiated coverage on shares of Ascena Retail Group in a report on Thursday, March 9th. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research upgraded shares of Ascena Retail Group from a “sell” rating to a “hold” rating in a report on Tuesday, March 7th. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company. The company has an average rating of “Hold” and a consensus price target of $5.17.

Hedge funds have recently added to or reduced their stakes in the company. Capstone Investment Advisors LLC acquired a new stake in Ascena Retail Group during the fourth quarter worth approximately $114,000. Waratah Capital Advisors Ltd. acquired a new stake in Ascena Retail Group during the fourth quarter worth approximately $130,000. BlueCrest Capital Management Ltd increased its stake in Ascena Retail Group by 196.6% in the first quarter. BlueCrest Capital Management Ltd now owns 36,405 shares of the specialty retailer’s stock worth $155,000 after buying an additional 24,132 shares during the last quarter. Boothbay Fund Management LLC acquired a new stake in Ascena Retail Group during the fourth quarter worth approximately $165,000. Finally, Highbridge Capital Management LLC increased its stake in Ascena Retail Group by 13,454.5% in the fourth quarter. Highbridge Capital Management LLC now owns 27,109 shares of the specialty retailer’s stock worth $167,000 after buying an additional 26,909 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

The firm has a market cap of $394.88 million, a price-to-earnings ratio of 57.22 and a beta of 1.93. The company has a 50 day moving average price of $3.66 and a 200-day moving average price of $5.02.

Ascena Retail Group (NASDAQ:ASNA) last released its quarterly earnings data on Monday, March 6th. The specialty retailer reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.03. Ascena Retail Group had a net margin of 0.29% and a return on equity of 4.50%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the firm earned $0.01 EPS. Ascena Retail Group’s quarterly revenue was down 5.1% compared to the same quarter last year. Analysts predict that Ascena Retail Group Inc will post $0.27 earnings per share for the current fiscal year.

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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.

12 Month Chart for NASDAQ:ASNA

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