ASOS (LON:ASC) Stock Price Up 8.8% – What’s Next?

ASOS Plc (LON:ASC)’s share price was up 8.8% during trading on Wednesday . The stock traded as high as GBX 322 and last traded at GBX 313.49. 1,693,498 shares were traded during mid-day trading, a decline of 74% from the average session volume of 6,537,786 shares. The stock had previously closed at GBX 288.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on ASOS from GBX 240 to GBX 285 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft raised their target price on ASOS from GBX 375 to GBX 400 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Berenberg Bank reissued a “buy” rating and issued a GBX 600 price target on shares of ASOS in a report on Wednesday. Finally, Shore Capital Group restated a “buy” rating on shares of ASOS in a research note on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of GBX 364.33.

ASOS Price Performance

The company’s 50 day moving average price is GBX 257.01 and its 200 day moving average price is GBX 263.73. 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 company has a market cap of £375.09 million, a price-to-earnings ratio of -1.62, a P/E/G ratio of -1.26 and a beta of 2.27.

ASOS (LON:ASC) last announced its earnings results on Thursday, April 23rd. The company reported GBX (109.90) earnings per share (EPS) for the quarter. ASOS had a negative return on equity of 155.17% and a negative net margin of 10.10%.The firm had revenue of GBX 111.60 billion for the quarter. On average, equities research analysts predict that ASOS Plc will post 12.4165252 earnings per share for the current fiscal year.

Insider Buying and Selling at ASOS

In other news, insider William Barker bought 15,779 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was bought at an average price of GBX 258 per share, for a total transaction of £40,709.82. Insiders have purchased a total of 1,733,163 shares of company stock worth $407,118,076 over the last three months. Company insiders own 19.82% of the company’s stock.

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.