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

ASOS Plc (LON:ASC) shares crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of GBX 439.75 and traded as high as GBX 446.50. ASOS shares last traded at GBX 445, with a volume of 6,151,442 shares traded.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Shore Capital Group upgraded shares of ASOS to a “buy” rating and set a GBX 520 price target for the company in a research report on Thursday, September 24th. Berenberg Bank lifted their price target on shares of ASOS from GBX 600 to GBX 750 and gave the stock a “buy” rating in a report on Thursday, September 24th. JPMorgan Chase & Co. lifted their price target on shares of ASOS from GBX 285 to GBX 330 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. 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 research note on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 440.71.

ASOS Price Performance

The stock has a market cap of £528.85 million, a P/E ratio of -2.29, a price-to-earnings-growth ratio of -1.26 and a beta of 2.32. The business has a 50-day simple moving average of GBX 439.75 and a 200 day simple moving average of GBX 322.38. The company has a current ratio of 0.95, a quick ratio of 0.39 and a debt-to-equity ratio of 855.63.

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.