Citigroup Maintains Ascena Retail Group Inc to Neutral with Price Target $7.00

Brokerage firm Citigroup Maintains its rating on Ascena Retail Group Inc(NASDAQ:ASNA). In a research note issued to the investors, the brokerage major Lowers the price-target to $7.00 per share. The shares have been rated Neutral. The rating by Citigroup was issued on Sep 21, 2016.

Ascena Retail Group Inc (ASNA) shares turned negative on Tuesdays trading session with the shares closing down -2.43 points or -29.93% at a volume of 2,81,62,253. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $6.15. The peak price level was also seen at $6.15 while the days lowest was $5.66. Finally the shares closed at $5.69. The 52-week high of the shares is $14.76 while the 52-week low is $5.66. According to the latest information available, the market cap of the company is $1,105 M.

Ascena Retail Group Inc(ASNA) last announced its earnings results on May 31, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $1.67B. Analysts had an estimated revenue of $1.73B. Earnings per share were $0.15. Analysts had estimated an EPS of $0.13.

Several Insider Transactions has been reported to the SEC. On Jun 3, 2016, Robert Giammatteo (CFO) purchased 5,000 shares at $7.18 per share price.Also, 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.

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