Ascena Retail Group Inc (NASDAQ:ASNA) was the recipient of a significant decrease in short interest in September. As of September 28th, there was short interest totalling 43,834,793 shares, a decrease of 3.7% from the September 14th total of 45,542,047 shares. Approximately 28.1% of the shares of the stock are short sold. Based on an average trading volume of 4,679,842 shares, the days-to-cover ratio is presently 9.4 days.
ASNA has been the subject of several recent analyst reports. BidaskClub lowered Ascena Retail Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 16th. Zacks Investment Research upgraded Ascena Retail Group from a “hold” rating to a “strong-buy” rating and set a $4.25 price objective for the company in a research note on Wednesday, July 11th. B. Riley increased their price objective on Ascena Retail Group from $3.50 to $4.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 15th. Finally, Citigroup increased their price objective on Ascena Retail Group from $1.50 to $2.00 and gave the stock a “sell” rating in a research note on Wednesday, September 26th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $3.44.
Several large investors have recently made changes to their positions in ASNA. Macquarie Group Ltd. acquired a new stake in shares of Ascena Retail Group in the second quarter valued at $100,000. Jane Street Group LLC increased its stake in shares of Ascena Retail Group by 384.8% in the first quarter. Jane Street Group LLC now owns 55,647 shares of the specialty retailer’s stock valued at $112,000 after buying an additional 44,168 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Ascena Retail Group in the second quarter valued at $144,000. MetLife Investment Advisors LLC increased its stake in shares of Ascena Retail Group by 201.0% in the first quarter. MetLife Investment Advisors LLC now owns 84,485 shares of the specialty retailer’s stock valued at $170,000 after buying an additional 56,415 shares in the last quarter. Finally, BlueMountain Capital Management LLC acquired a new stake in shares of Ascena Retail Group in the second quarter valued at $173,000. Institutional investors own 94.91% of the company’s stock.
Ascena Retail Group stock opened at $4.52 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.25 and a quick ratio of 0.55. Ascena Retail Group has a 52-week low of $1.69 and a 52-week high of $5.28. The firm has a market cap of $897.43 million, a price-to-earnings ratio of -226.00 and a beta of 1.61.
Ascena Retail Group (NASDAQ:ASNA) last announced its earnings results on Monday, September 24th. The specialty retailer reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.05. Ascena Retail Group had a negative return on equity of 0.59% and a negative net margin of 0.60%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period last year, the company posted $0.05 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities analysts anticipate that Ascena Retail Group will post 0.07 EPS for the current fiscal year.
About Ascena Retail Group
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 six segments: ANN, Justice, Lane Bryant, maurices, dressbarn, and Catherines. It creates, designs, and develops a range of merchandise, including apparel, accessories, footwear, and intimates; lifestyle products comprising cosmetics and bedroom furnishings; and wear-to-work, sportswear, footwear, and social occasion apparel.
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