ASOS (LON:ASC) Hits New 52-Week High – Here’s Why

Shares of ASOS Plc (LON:ASC) reached a new 52-week high during mid-day trading on Monday . The company traded as high as GBX 436.50 and last traded at GBX 427.50, with a volume of 115960 shares changing hands. The stock had previously closed at GBX 421.50.

Analysts Set New Price Targets

A number of analysts have issued reports on ASC shares. JPMorgan Chase & Co. lifted their price target on ASOS from GBX 285 to GBX 330 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. Royal Bank Of Canada upped their price target on shares of ASOS from GBX 275 to GBX 400 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Berenberg Bank reiterated a “buy” rating and set a GBX 600 price target on shares of ASOS in a research note on Thursday, August 27th. Finally, Shore Capital Group lifted their target price on ASOS from GBX 420 to GBX 520 and gave the company a “buy” rating in a research note on Thursday, August 27th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, ASOS has an average rating of “Moderate Buy” and an average target price of GBX 419.29.

ASOS Stock Up 0.7%

The company has a debt-to-equity ratio of 855.63, a quick ratio of 0.39 and a current ratio of 0.95. The firm has a fifty day moving average price of GBX 390.23 and a 200 day moving average price of GBX 300.98. The firm has a market capitalization of £507.92 million, a price-to-earnings ratio of -2.20, a PEG ratio of -1.26 and a beta of 2.32.

ASOS Company Profile

ASOS Plc operates as an online fashion retailer in the United Kingdom, the United States, Australia, France, Germany, Spain, Italy, Sweden, the Netherlands, Denmark, Poland, and internationally. It offers womenswear and menswear products. The company sells its products under the ASOS Design, ASOS Edition, ASOS Luxe, ASOS 4505, Collusion, Reclaimed Vintage, Topshop, Topman, Miss Selfridge, HIIT, AsYou, Dark Future, UNRVLLD/SPPLY, Crooked Tongues, Daysocial, Actual, and Weekend Collective brands, as well as through third-party brands.