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Ascena (ASNA) Surges: Stock Moves 8.4% Higher

Zacks Equity Research

Ascena Retail Group, Inc. ASNA was a big mover last session, as the company saw its shares rise more than 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company as the stock is now down 52.2% in the past one-month time frame.

The move came after the company announced that it has signed an agreement to sell majority stake in its subsidiary, Maurices, to an affiliate of OpCapita LLP.

The company has seen one negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Ascena currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.

Ascena Retail Group, Inc. Price

Ascena Retail Group, Inc. Price | Ascena Retail Group, Inc. Quote

Investors interested in the Retail - Apparel and Shoes industry may consider Foot Locker, Inc. FL, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is ASNA going up? Or down? Predict to see what others think: Up or Down

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