KeyBanc Downgrades Ascena Retail Group Inc to Sector Weight

Brokerage firm KeyBanc Downgrades its rating on Ascena Retail Group Inc(ASNA). The shares have been rated Sector Weight. Previously, the analysts had a Overweight rating on the shares. The rating by the stock financial advisor at KeyBanc was issued on Mar 21, 2017 in a research report to their Investors and Clients.

In a different note, Guggenheim said it Initiates Coverage On Ascena Retail Group Inc, according to a research note issued on Mar 9, 2017. The shares have been rated ‘Neutral’ by the firm. On Mar 7, 2017, Citigroup said it Downgrades its rating on Ascena Retail Group Inc. The shares have been rated ‘Sell’ by the firm.

Ascena Retail Group Inc (ASNA) shares turned negative on Fridays trading session with the shares closing down -0.03 points or -0.78% at a volume of 24,06,302. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $3.92. The peak price level was also seen at $3.92 while the days lowest was $3.76. Finally the shares closed at $3.8. The 52-week high of the shares is $11.255 while the 52-week low is $3.53. According to the latest information available, the market cap of the company is $741 M.

Ascena Retail Group Inc(ASNA) last announced its earnings results on Mar 6, 2017 for Fiscal Year 2017 and Q2.Company reported revenue of $1.748B. Analysts had an estimated revenue of $81.760M. Earnings per share were $-0.07. Analysts had estimated an EPS of $0.44.

Several Insider Transactions has been reported to the SEC. On Dec 12, 2016, Elliot S Jaffe (Chairman) sold 9,150 shares at $7.61 per share price.Also, On Jun 3, 2016, Robert Giammatteo (CFO) purchased 5,000 shares at $7.18 per share price.On Apr 7, 2016, Katie J Bayne (director) purchased 4,000 shares at $10.12 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.

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