Shares of Ascena Retail Group Inc (NASDAQ:ASNA) gapped down prior to trading on Thursday . The stock had previously closed at $3.33, but opened at $3.25. Ascena Retail Group shares last traded at $3.09, with a volume of 2491677 shares.
A number of research firms have recently weighed in on ASNA. Citigroup increased their price objective on shares of Ascena Retail Group from $1.50 to $2.00 and gave the stock a “sell” rating in a research note on Wednesday, September 26th. Zacks Investment Research lowered shares of Ascena Retail Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. BidaskClub lowered shares of Ascena Retail Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. B. Riley restated a “neutral” rating on shares of Ascena Retail Group in a research report on Wednesday, November 14th. Finally, Telsey Advisory Group dropped their price target on shares of Ascena Retail Group from $5.00 to $4.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $3.81.
The stock has a market cap of $641.67 million, a P/E ratio of -163.00 and a beta of 1.60. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.45 and a current ratio of 1.28.
Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new stake in shares of Ascena Retail Group in the second quarter valued at about $408,000. Marshall Wace North America L.P. acquired a new stake in shares of Ascena Retail Group in the third quarter valued at about $296,000. Laurion Capital Management LP acquired a new stake in shares of Ascena Retail Group in the second quarter valued at about $686,000. Royce & Associates LP grew its position in shares of Ascena Retail Group by 6.5% in the third quarter. Royce & Associates LP now owns 1,472,966 shares of the specialty retailer’s stock valued at $6,731,000 after purchasing an additional 90,500 shares during the period. Finally, BlackRock Inc. grew its position in shares of Ascena Retail Group by 4.1% in the third quarter. BlackRock Inc. now owns 25,125,408 shares of the specialty retailer’s stock valued at $114,822,000 after purchasing an additional 998,311 shares during the period. Institutional investors own 98.68% of the company’s stock.
Ascena Retail Group Company Profile (NASDAQ:ASNA)
Ascena Retail Group, Inc, through its subsidiaries, operates as a specialty retailer of apparel, shoes, and accessories for women and tween girls in the United States, Canada, and Puerto Rico. The company operates through four segments: Premium Fashion, Value Fashion, Plus Fashion, and Kids Fashion. It offers a range of merchandise, including apparel, accessories, footwear, and intimates; and lifestyle products comprising cosmetics and bedroom accessories.
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