ASOS (LON:ASC) Shares Break Above 50 Day Moving Average – Here’s Why

ASOS Plc (LON:ASC)’s stock price passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of GBX 444.79 and traded as high as GBX 470.50. ASOS shares last traded at GBX 466, with a volume of 1,017,641 shares traded.

Analyst Ratings Changes

Several brokerages have issued reports on ASC. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 750 target price on shares of ASOS in a research note on Thursday, November 5th. Deutsche Bank lifted their price target on shares of ASOS from GBX 450 to GBX 490 and gave the stock a “buy” rating in a research note on Friday, November 6th. Shore Capital Group restated a “buy” rating and issued a GBX 520 price objective on shares of ASOS in a report on Thursday, November 5th. Finally, Royal Bank Of Canada boosted their price objective on shares of ASOS from GBX 275 to GBX 400 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 453.57.

ASOS Stock Up 0.5%

The stock has a market capitalization of £560.56 million, a P/E ratio of -2.42, a PEG ratio of -1.26 and a beta of 2.32. The stock has a 50 day moving average price of GBX 444.79 and a 200-day moving average price of GBX 329.49. The company has a debt-to-equity ratio of 855.63, a current ratio of 0.95 and a quick ratio of 0.39.

ASOS (LON:ASC) last released its earnings results on Thursday, November 5th. The company reported GBX 41.60 earnings per share for the quarter. The company had revenue of GBX 224.56 billion during the quarter. ASOS had a negative return on equity of 155.17% and a negative net margin of 10.10%. As a group, research analysts expect that ASOS Plc will post 12.42 EPS for the current fiscal year.

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.