ASOS (LON:ASC) Price Target Cut to GBX 490 by Analysts at Berenberg Bank

ASOS (LON:ASC) had its price objective reduced by equities research analysts at Berenberg Bank from GBX 510 ($6.35) to GBX 490 ($6.10) in a research note issued on Wednesday, Digital Look reports. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s target price indicates a potential upside of 39.36% from the company’s current price.

Separately, Shore Capital reissued a “sell” rating on shares of ASOS in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ASOS has a consensus rating of “Hold” and a consensus price target of GBX 511 ($6.36).

ASOS Trading Up 5.5 %

Shares of ASC traded up GBX 18.20 ($0.23) during midday trading on Wednesday, hitting GBX 351.60 ($4.38). The stock had a trading volume of 523,734 shares, compared to its average volume of 400,948. The business has a 50-day simple moving average of GBX 362.42 and a two-hundred day simple moving average of GBX 380.29. The company has a current ratio of 1.73, a quick ratio of 0.39 and a debt-to-equity ratio of 115.59. The firm has a market cap of £419.56 million, a P/E ratio of -165.69, a price-to-earnings-growth ratio of -1.26 and a beta of 2.72. ASOS has a fifty-two week low of GBX 320.33 ($3.99) and a fifty-two week high of GBX 794 ($9.88).

Insider Activity at ASOS

In other ASOS news, insider William Barker acquired 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were purchased at an average price of GBX 365 ($4.54) per share, with a total value of £47,450 ($59,068.84). Insiders own 50.18% of the company’s stock.

About ASOS

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.