Ascena Retail Group Inc (ASNA) is Downgraded by FBR & Co. to Mkt Perform, Lowers Price Target to $ 7

Ascena Retail Group Inc (ASNA) was Downgraded by FBR & Co. to ” Mkt Perform” while Lowering the Price Target of the company shares to $ 7 from a previous price target of $15 . Earlier the firm had a rating of “Outperform ” on the company shares. FBR & Co. advised their investors in a research report released on Sep 20, 2016.

Many Wall Street Analysts have commented on Ascena Retail Group Inc. Shares were Downgraded by RBC Capital Mkts on Sep 20, 2016 to ” Sector Perform” and Lowered the Price Target to $ 7 from a previous price target of $12 .Shares were Reiterated by Telsey Advisory Group on Sep 20, 2016 to “Market Perform” and Lowered the Price Target to $ 7 from a previous price target of $9 .

On the company’s financial health, Ascena Retail Group Inc reported $0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 31, 2016. Analyst had a consensus of $0.13. The company had revenue of $1670.00 million for the quarter, compared to analysts expectations of $1733.76 million. The company’s revenue was down -4.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.18 EPS.

Ascena Retail Group Inc opened for trading at $7.82 and hit $8.335 on the upside on Friday, eventually ending the session at $7.97, with a gain of 1.92% or 0.15 points. The heightened volatility saw the trading volume jump to 3,557,416 shares. Company has a market cap of $1,547 M.

In a different news, on Jun 3, 2016, Robert Giammatteo (CFO) purchased 5,000 shares at $7.18 per share price. According to the SEC, on Apr 7, 2016, Katie J Bayne (director) purchased 4,000 shares at $10.12 per share price. On Mar 16, 2016, Catherine Elizabeth Buggeln (director) purchased 5,000 shares at $10.25 per share price, according to the Form-4 filing with the securities and exchange commission.

Ascena Retail Group Inc. is a specialty retailer which offers clothing shoes and accessories for missy and plus-size women. The Company offers its products under the Ann Taylor LOFT Lane Bryant maurices dressbarn Catherines and Justice brands. It operates through six segments: ANN Justice Lane Bryant maurices dressbarn and Catherines. The ANN segment consists of specialty retail outlet and e-commerce operations of Ann Taylor and LOFT brands. The Justice merchandise mix includes apparel accessories footwear intimates and lifestyle products. The Lane Bryant segment offers apparel including intimate apparel wear-to-work and casual sportswear accessories select footwear and social occasion apparel. The maurices brand caters customers in ages between over 20 and 30 including core and plus-size offerings. The dressbarn brand caters female consumers in ages between approximately 30 and 50. Catherines offers apparel and accessories for wear-to-work and casual lifestyles.

Ascena Retail Group Inc

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