ASOS (LON:ASC) Price Target Cut to GBX 490 by Analysts at Berenberg Bank

ASOS (LON:ASC) had its price target reduced by equities research analysts at Berenberg Bank from GBX 510 ($6.35) to GBX 490 ($6.10) in a report issued on Wednesday, Digital Look reports. The firm currently has a “buy” rating on the stock. Berenberg Bank’s price objective would indicate a potential upside of 39.36% from the company’s previous close.

Separately, Shore Capital reaffirmed a “sell” rating on shares of ASOS in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of GBX 511 ($6.36).

ASOS Trading Up 5.5 %

Shares of ASC stock traded up GBX 18.20 ($0.23) on Wednesday, hitting GBX 351.60 ($4.38). 523,734 shares of the stock traded hands, compared to its average volume of 400,948. The firm’s 50-day moving average price is GBX 362.42 and its two-hundred day moving average price is GBX 380.29. ASOS has a twelve month low of GBX 320.33 ($3.99) and a twelve month high of GBX 794 ($9.88). The company has a debt-to-equity ratio of 115.59, a quick ratio of 0.39 and a current ratio of 1.73. The stock has a market capitalization of £419.56 million, a PE ratio of -165.69, a PEG ratio of -1.26 and a beta of 2.72.

Insiders Place Their Bets

In other ASOS news, insider William Barker purchased 13,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were bought at an average cost of GBX 365 ($4.54) per share, for a total transaction of £47,450 ($59,068.84). Insiders own 50.18% of the company’s stock.

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.