ASOS (LON:ASC) Share Price Breaks Above 50-Day Moving Average – Here’s Why

ASOS Plc (LON:ASC)’s share price crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of GBX 444.79 and traded as high as GBX 470.50. ASOS shares last traded at GBX 466, with a volume of 1,017,641 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Deutsche Bank boosted their price target on ASOS from GBX 450 to GBX 490 and gave the stock a “buy” rating in a report on Friday, November 6th. Berenberg Bank restated a “buy” rating and issued a GBX 750 price objective on shares of ASOS in a research report on Thursday, November 5th. Shore Capital Group reaffirmed a “buy” rating and set a GBX 520 price objective on shares of ASOS in a research note on Thursday, November 5th. Finally, 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 research report on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of GBX 473.33.

ASOS Stock Up 2.9%

The firm’s 50 day moving average is GBX 447.08 and its 200-day moving average is GBX 330.91. The firm has a market cap of £569.53 million, a PE ratio of -2.46, a P/E/G ratio of -1.26 and a beta of 2.32. The company has a quick ratio of 0.39, a current ratio of 1.18 and a debt-to-equity ratio of 228.60.

ASOS (LON:ASC) last released its earnings results on Thursday, November 5th. The company reported GBX 41.60 EPS for the quarter. The firm had revenue of GBX 224.56 billion during the quarter. ASOS had a net margin of 2.22% and a return on equity of 27.83%. As a group, equities research analysts expect that ASOS Plc will post 12.42 earnings per share for the current fiscal year.

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.