Ascena Retail Group, Inc. (NASDAQ:ASNA) is a stock to watch today. At current price of $4.62, the shares have already added 0.13 points (2.9% higher) from its previous close of $4.49. The stock sets an active trading volume day with a reported 112863 contracts so far this session. ASNA shares had a relatively better volume day versus average trading capacity of 232.52 thousand shares, but with a 8.79 million float and a 2.98% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ASNA stock indicates that the average analyst price target is $1 per share. This means the stock has a potential decrease of -78.35% from where the ASNA share price has been trading recently.
During the recent trading session for Ascena Retail Group, Inc. (NASDAQ:ASNA), the company witnessed their stock rise $0.32 over a week and tumble down $-1.68 from the price 20 days ago. When compared to their established 52-week high of $47.8, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 02/25/19. The recent low of $4 stood for a -90.33% since 04/09/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.06 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Ascena Retail Group, Inc., the two-week RSI stands at 31.62. This figure suggests that ASNA stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ASNA readings is similarly very revealing as it has a stochastic reading of 28.02% at this stage. This figure means that ASNA share price today is being overbought.
Technical chart claims that Ascena Retail Group, Inc. (ASNA) would settle between $4.58/share to $4.66/share level. However, if the stock price goes below the $4.4 mark, then the market for Ascena Retail Group, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $4.3 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.08. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Telsey Advisory Group lifted target price for shares of ASNA but were stick to Market Perform recommendation for the stock in their opinion released on June 11. The price target has been raised from $2 to $1. Citigroup analysts bumped their rating on Ascena Retail Group, Inc. (NASDAQ:ASNA) stock from Sell to Neutral in a separate flash note issued to investors on April 03. Analysts at Telsey Advisory Group are sticking to their Market Perform stance. However, on December 11, they lifted price target for these shares to $4 from $5.
Moving on, ASNA stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 27.8. Ascena Retail Group, Inc. current P/B ratio of 0.3 means it is trading at a discount against its industry’s 8.