Stock of The Day: Could Ascena Retail Group Inc Change Direction After Today’s Huge Increase?

Stock of The Day: Could Ascena Retail Group Inc Change Direction After Today's Huge Increase?

The stock of Ascena Retail Group Inc (NASDAQ:ASNA) is a huge mover today! About 3.08 million shares traded hands. Ascena Retail Group Inc (NASDAQ:ASNA) has declined 33.71% since April 20, 2016 and is downtrending. It has underperformed by 38.27% the S&P500.
The move comes after 5 months positive chart setup for the $1.33B company. It was reported on Nov, 22 by Barchart.com. We have $7.25 PT which if reached, will make NASDAQ:ASNA worth $93.10 million more.

Ascena Retail Group Inc (NASDAQ:ASNA) Ratings Coverage

Out of 7 analysts covering Ascena Retail Group (NASDAQ:ASNA), 1 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 14% are positive. Ascena Retail Group has been the topic of 17 analyst reports since September 24, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Thursday, February 11 by Goldman Sachs. The firm has “Market Perform” rating by Telsey Advisory Group given on Tuesday, September 20. The firm has “Outperform” rating by FBR Capital given on Wednesday, June 1. RBC Capital Markets maintained Ascena Retail Group Inc (NASDAQ:ASNA) rating on Friday, January 15. RBC Capital Markets has “Outperform” rating and $15.0 price target. The firm has “Sector Perform” rating given on Tuesday, September 20 by RBC Capital Markets. On Wednesday, October 7 the stock rating was initiated by Citigroup with “Neutral”. The firm has “Mkt Perform” rating given on Tuesday, September 20 by FBR Capital. The company was maintained on Monday, January 18 by RBC Capital Markets. Telsey Advisory Group maintained Ascena Retail Group Inc (NASDAQ:ASNA) on Wednesday, June 1 with “Market Perform” rating. As per Tuesday, September 20, the company rating was downgraded by Oppenheimer.

According to Zacks Investment Research, “Ascena Retail Group, Inc, formerly known as The Dress Barn, Inc., operates as a national specialty retailer of apparel for women and girls under the Dressbarn, Maurices and Justice brands. Its Dressbarn stores offer casual, career and special occasion fashion apparel and accessories; Maurices stores offer casual and career apparel and accessories; and Justice stores offer trend-right apparel and accessories. Ascena Retail Group, Inc. is based in Suffern, New York.”

Insitutional Activity: The institutional sentiment decreased to 0.79 in Q2 2016. Its down 0.42, from 1.21 in 2016Q1. The ratio turned negative, as 29 funds sold all Ascena Retail Group Inc shares owned while 62 reduced positions. 24 funds bought stakes while 86 increased positions. They now own 173.51 million shares or 2.01% less from 177.06 million shares in 2016Q1.
Blackrock Fund Advisors accumulated 0.01% or 8.56M shares. Murphy Michael R has 5.05% invested in the company for 1.84M shares. The United Kingdom-based Gsa Cap Prns Ltd Liability Partnership has invested 0.07% in Ascena Retail Group Inc (NASDAQ:ASNA). New York State Common Retirement Fund accumulated 0% or 306,473 shares. Pnc Fincl Gru accumulated 4,724 shares or 0% of the stock. Segall Bryant & Hamill Lc has invested 0.02% of its portfolio in Ascena Retail Group Inc (NASDAQ:ASNA). Alexandria Ltd Company holds 0% of its portfolio in Ascena Retail Group Inc (NASDAQ:ASNA) for 12 shares. Icm Asset Mngmt Wa, a Washington-based fund reported 156,445 shares. Legal & General Plc has 0% invested in the company for 112,156 shares. Advisors Asset Mgmt owns 4,484 shares or 0% of their US portfolio. Comerica Bankshares holds 117,148 shares or 0.01% of its portfolio. Federated Inc Pa holds 93,797 shares or 0% of its portfolio. Moreover, Whittier has 0% invested in Ascena Retail Group Inc (NASDAQ:ASNA) for 237 shares. Capstone Investment Advsrs, a New York-based fund reported 31,178 shares. Thrivent Finance For Lutherans owns 122,362 shares or 0% of their US portfolio.

Insider Transactions: Since June 2, 2016, the stock had 1 insider buy, and 1 insider sale for $29,170 net activity. Giammatteo Robert had bought 5,000 shares worth $35,910 on Thursday, June 2. JAFFE ELLIOT S sold $6,740 worth of Ascena Retail Group Inc (NASDAQ:ASNA) on Friday, September 23.

More news for Ascena Retail Group Inc (NASDAQ:ASNA) were recently published by: Businesswire.com, which released: “ascena retail group, inc. Announces Fiscal 2017 First Quarter Financial …” on November 21, 2016. Businesswire.com‘s article titled: “ascena retail group, inc. Announces Retirement of Elliot S. Jaffe as Non …” and published on October 25, 2016 is yet another important article.

ASNA Company Profile

Ascena Retail Group, Inc., incorporated on July 27, 2010, is a specialty retailer of apparel for women and tween girls. The Firm classifies its businesses into six divisions: ANN, Justice, Lane Bryant, maurices, dressbarn and Catherines. As of July 30, 2016, the Company operated approximately 4,900 stores in 49 United States’ states, the District of Columbia, Canada and Puerto Rico.

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