Analysts rise target price on Ascena Retail Group

Analysts at FBR Capital increased their price target on shares of

Ascena Retail Group from $34.00 to $38.00 in a research report issued to clients and investors on Monday. They currently have a “market perform” rating on the company’s shares.

On their own, analysts at SunTrust downgraded shares of Ascena Retail Group from a “buy” rating to a “neutral” rating in a research note to investors on Friday. Analysts at Avondale Partners raised their price target on shares of Ascena Retail Group from $37.00 to $44.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock.

Ascena Retail Group opened at 37.79 on Monday. Ascena Retail Group has a 1-year low of $24.00 and a 1-year high of $39.28. The stock has a 50-day moving average of $35.73 and a 200-day moving average of $29.82. The company has a market cap of $2.873 billion and a price-to-earnings ratio of 17.92.

The apparel group advanced earlier this month that they continue to look for an acquisition of a retail concept to plug into its portfolio, said chief financial officer Armand Correia. Correia could "take a look" at Charming Shoppes Inc. and its Fashion Bug Retail Cos. and Lane Bryant Inc. concepts, for example. He also pointed to Talbots Inc. and private equity-owned Claire's Stores Inc. as attractive targets if the companies hit the auction block.