ASOS (LON:ASC) Stock Price Up 8.8% – Time to Buy?

Shares of ASOS Plc (LON:ASC) rose 8.8% on Wednesday . The company traded as high as GBX 322 and last traded at GBX 313.49. 1,693,498 shares were traded during trading, a decline of 74% from the average daily volume of 6,537,786 shares. The stock had previously closed at GBX 288.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ASC. Shore Capital Group reiterated a “buy” rating on shares of ASOS in a report on Thursday, April 23rd. JPMorgan Chase & Co. increased their target price on ASOS from GBX 285 to GBX 330 and gave the company a “neutral” rating in a research note on Thursday. Berenberg Bank reiterated a “buy” rating and issued a GBX 600 price target on shares of ASOS in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on ASOS from GBX 375 to GBX 400 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of GBX 371.83.

ASOS Trading Down 3.6%

The stock has a fifty day simple moving average of GBX 261 and a 200 day simple moving average of GBX 264.75. The firm has a market capitalization of £388.86 million, a P/E ratio of -1.68, a PEG ratio of -1.26 and a beta of 2.27. The company has a quick ratio of 0.39, a current ratio of 0.95 and a debt-to-equity ratio of 855.63.

ASOS (LON:ASC) last posted its quarterly earnings results on Thursday, April 23rd. The company reported GBX (109.90) earnings per share for the quarter. ASOS had a negative return on equity of 155.17% and a negative net margin of 10.10%.The business had revenue of GBX 111.60 billion during the quarter. As a group, research analysts forecast that ASOS Plc will post 12.4165252 EPS for the current year.

Insider Activity at ASOS

In other news, insider William Barker purchased 15,779 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was bought at an average cost of GBX 258 per share, with a total value of £40,709.82. Insiders bought 1,733,163 shares of company stock valued at $407,118,076 in the last quarter. 19.82% of the stock is currently owned by insiders.

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.