Cheap Stocks to Buy: Ascena Retail Group (ASNA)
Stock Price: ~$6.05
Ascena Retail Group Inc (NASDAQ:ASNA) is a tough call as far as a possible double in 2017, but there are some interesting things happening here.
ASNA made a bold move by purchasing Ann Taylor parent Ann Inc. for $2.15 billion in May 2015. But with Ann Taylor comes the other popular brands of Justice, Lane Bryant, maurices, dressbarn and Catherines.
The combined companies had a whopping $7 billion in sales in FY16, but digesting the acquisition and $100 million in debt service is hurting the bottom line. However, if expenses can be lowered, this roughly $6 stock could double as savings move to the bottom line.