ASOS (LON:ASC) Shares Up 10.3% – Here’s What Happened

ASOS Plc (LON:ASC)’s share price shot up 10.3% during mid-day trading on Monday . The company traded as high as GBX 243.44 and last traded at GBX 240. 8,523,872 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 8,893,260 shares. The stock had previously closed at GBX 217.50.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ASC. JPMorgan Chase & Co. upped their price objective on shares of ASOS from GBX 240 to GBX 285 and gave the company a “neutral” rating in a research note on Tuesday. Shore Capital Group reaffirmed a “buy” rating on shares of ASOS in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of ASOS from GBX 375 to GBX 400 and gave the company a “buy” rating in a research note on Tuesday. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 600 price objective on shares of ASOS in a research note on Monday. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 364.33.

ASOS Stock Up 0.9%

The firm has a market cap of £268.01 million, a PE ratio of -1.16, a PEG ratio of -1.26 and a beta of 2.22. 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’s 50-day simple moving average is GBX 232.21 and its two-hundred day simple moving average is GBX 258.34.

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

Insider Activity

In other ASOS news, insider William Barker purchased 1,627,693 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was bought at an average cost of GBX 235 per share, for a total transaction of £3,825,078.55. 18.40% 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.