Ascena Retail Group Receives a Hold from Guggenheim

Guggenheim analyst Robert Drbul maintained a Hold rating on Ascena Retail Group (NASDAQ: ASNA) yesterday. The company’s shares closed yesterday at $3.66, close to its 52-week high of $3.73.

Drbul noted:

“We would note several data points in 3Q18 including 1) continued strength at Justice (+10% comp, +7% in 2Q), 2) momentum in the business (4Q QTD comps up +MSD%), and 3) the continued store base rationalization (27 store closures in 3Q). We remain NEUTRAL-rated as we continue to await stabilization in the top-line.”

According to TipRanks.com, Drbul is a 5-star analyst with an average return of 17.3% and a 79.8% success rate. Drbul covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Lululemon Athletica Inc, and Wal-Mart Stores Inc.

Ascena Retail Group has an analyst consensus of Hold, with a price target consensus of $2.

See today’s analyst top recommended stocks >>

Based on Ascena Retail Group’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $1.72 billion and GAAP net loss of $39.3 million. In comparison, last year the company had a GAAP net loss of $1.03 billion.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Ascena Retail Group, Inc. engages in the retail of clothing, shoes, and accessories stores for women. It operates through the following segments: Premium Fashion, Value Fashion, Plus Fashion, and Kids Fashion. The Premium Fashion segment consists of Ann Taylor and LOFT brands. The Value Fashion segment refers to Maurices and Dressbarn brands.