ASOS (LON:ASC) Stock Price Down 6.8% – What’s Next?

ASOS Plc (LON:ASC) dropped 6.8% during trading on Tuesday. The stock traded as low as GBX 426.50 and last traded at GBX 467.75. 4,428,978 shares were traded during mid-day trading, a decline of 1% from the average daily volume of 4,451,911 shares. The stock had previously closed at GBX 502.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ASC shares. Royal Bank Of Canada lifted their price objective on ASOS from GBX 275 to GBX 400 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. Shore Capital Group raised ASOS to a “buy” rating and set a GBX 520 price target on the stock in a research note on Thursday, September 24th. JPMorgan Chase & Co. raised their price objective on ASOS from GBX 285 to GBX 330 and gave the company a “neutral” rating in a report on Thursday, July 2nd. Finally, Berenberg Bank upped their target price on shares of ASOS from GBX 600 to GBX 750 and gave the stock a “buy” rating in a report on Thursday, September 24th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 440.71.

ASOS Trading Down 6.8%

The company has a quick ratio of 0.39, a current ratio of 0.95 and a debt-to-equity ratio of 855.63. The company’s 50-day moving average is GBX 416.99 and its 200-day moving average is GBX 318.25. The stock has a market capitalization of £559.66 million, a price-to-earnings ratio of -2.42, a PEG ratio of -1.26 and a beta of 2.32.

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.