After Forming Bearish Multiple Bottom, Is Ascena Retail Group Inc (ASNA)’s Near-Term Analysis Negative?

September 17, 2017 - By Winifred Garcia

Investors sentiment increased to 1.11 in Q4 2016. Its up 0.32, from 0.79 in 2016Q3. It is positive, as 45 investors sold Ascena Retail Group Inc shares while 53 reduced holdings. 48 funds opened positions while 61 raised stakes. 170.48 million shares or 3.73% less from 177.08 million shares in 2016Q3 were reported.
Ubs Asset Mngmt Americas Inc holds 80,116 shares. 897,296 are owned by Numeric Invsts Ltd Liability Co. Ameritas Investment Prns Incorporated has 0% invested in Ascena Retail Group Inc (NASDAQ:ASNA). The Missouri-based First Heartland Consultants Incorporated has invested 0.15% in Ascena Retail Group Inc (NASDAQ:ASNA). Gp One Trading Limited Partnership holds 0% or 81,203 shares. Zurcher Kantonalbank (Zurich Cantonalbank) owns 4,736 shares for 0% of their portfolio. Texas Permanent School Fund holds 0.01% of its portfolio in Ascena Retail Group Inc (NASDAQ:ASNA) for 123,584 shares. Gray Financial Grp Inc Ga Adv Adv reported 39,536 shares. Quinn Opportunity Prtnrs Ltd Liability Corp invested in 22,000 shares. Raymond James Associate has 0% invested in Ascena Retail Group Inc (NASDAQ:ASNA) for 36,843 shares. Stoneridge Inv Ptnrs Lc accumulated 334,133 shares. Reilly Ltd Liability Corp holds 0% or 210 shares in its portfolio. The Pennsylvania-based Susquehanna Intl Grp Limited Liability Partnership has invested 0% in Ascena Retail Group Inc (NASDAQ:ASNA). State Common Retirement Fund has 0% invested in Ascena Retail Group Inc (NASDAQ:ASNA). Gabelli Funds Llc invested 0.02% of its portfolio in Ascena Retail Group Inc (NASDAQ:ASNA).

The stock of Ascena Retail Group Inc (ASNA) shows a multiple bottoms pattern with $2.10 target or 6.00 % below today’s $2.23 share price. The 7 months chart pattern indicates high risk for the $434.71 million company. It was reported on Sep, 17 by Finviz.com. If the $2.10 price target is reached, the company will be worth $26.08M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 8.25% or $0.17 on September 15, reaching $2.23. About 4.79 million shares traded or 117.73% up from the average. Ascena Retail Group Inc (NASDAQ:ASNA) has declined 70.94% since September 17, 2016 and is downtrending. It has underperformed by 87.64% the S&P500.

Analysts expect Ascena Retail Group Inc (NASDAQ:ASNA) to report $-0.03 EPS on September, 18.They anticipate $0.11 EPS change or 137.50 % from last quarter’s $0.08 EPS. After having $0.05 EPS previously, Ascena Retail Group Inc’s analysts see -160.00 % EPS growth.

Ascena Retail Group Inc (NASDAQ:ASNA) Ratings Coverage

Among 9 analysts covering Ascena Retail Group (NASDAQ:ASNA), 1 have Buy rating, 1 Sell and 7 Hold. Therefore 11% are positive. Ascena Retail Group had 24 analyst reports since September 24, 2015 according to SRatingsIntel. The stock has “Overweight” rating by Piper Jaffray on Wednesday, December 2. The rating was maintained by RBC Capital Markets with “Outperform” on Monday, January 18. Telsey Advisory Group maintained Ascena Retail Group Inc (NASDAQ:ASNA) on Tuesday, September 20 with “Market Perform” rating. FBR Capital maintained Ascena Retail Group Inc (NASDAQ:ASNA) rating on Tuesday, August 15. FBR Capital has “Neutral” rating and $3 target. The firm has “Market Perform” rating given on Tuesday, September 20 by Oppenheimer. The stock of Ascena Retail Group Inc (NASDAQ:ASNA) has “Market Perform” rating given on Tuesday, January 12 by Telsey Advisory Group. The firm has “Hold” rating given on Monday, June 12 by RBC Capital Markets. The stock of Ascena Retail Group Inc (NASDAQ:ASNA) has “Neutral” rating given on Wednesday, October 7 by Citigroup. As per Wednesday, August 30, the company rating was maintained by KeyBanc Capital Markets. The firm has “Outperform” rating given on Friday, January 15 by RBC Capital Markets.

More recent Ascena Retail Group Inc (NASDAQ:ASNA) news were published by: Forbes.com which released: “Why Ascena Retail Group Is Failing And What Can Be Done About It” on June 15, 2017. Also Bizjournals.com published the news titled: “Lane Bryant parent Ascena promising 130 new jobs in Columbus” on September 12, 2017. Seekingalpha.com‘s news article titled: “Buy Tanger, Don’t Sweat Ascena” with publication date: August 21, 2017 was also an interesting one.

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