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

ASOS Plc (LON:ASC) shares traded up 8.8% during mid-day trading on Wednesday . The stock traded as high as GBX 322 and last traded at GBX 313.49. Approximately 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.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ASC shares. Deutsche Bank Aktiengesellschaft raised their price objective on ASOS from GBX 375 to GBX 400 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Shore Capital Group reissued a “buy” rating on shares of ASOS in a research report on Thursday, April 23rd. Berenberg Bank restated a “buy” rating and issued a GBX 600 price objective on shares of ASOS in a research note on Wednesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of ASOS from GBX 240 to GBX 285 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating and two have issued 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 Performance

The stock has a market cap of £375.09 million, a P/E ratio of -1.62, a P/E/G ratio of -1.26 and a beta of 2.27. The firm has a 50 day moving average of GBX 257.01 and a two-hundred day moving average of 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.

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

Insider Buying and Selling

In related news, insider William Barker purchased 1,627,693 shares of ASOS stock in a transaction on Thursday, April 23rd. The stock was purchased at an average cost of GBX 235 per share, with a total value of £3,825,078.55. In the last ninety days, insiders have acquired 1,733,163 shares of company stock worth $407,118,076. 19.82% of the stock is owned by corporate 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.