ASOS (LON:ASC) Price Target Raised to GBX 400

Key Points

• Royal Bank of Canada raised its ASOS price target to GBX 400 from GBX 275 while maintaining a “sector perform” rating, implying 8.4% potential upside.
• Analyst sentiment is broadly positive: ASOS has four Buy ratings and three Hold ratings, with an average recommendation of “Moderate Buy” and an average price target of GBX 375.86.
• ASOS shares opened at GBX 369, near their 12-month high of GBX 390.50. Insider William Barker also bought 89,691 shares, and insiders collectively own 19.82% of the company.

ASOS (LON:ASC - Get Free Report) had its price objective hoisted by research analysts at Royal Bank Of Canada from GBX 275 to GBX 400 in a report released on Wednesday,Digital Look reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective points to a potential upside of 8.40% from the company's current price.

Several other equities analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft raised their price objective on ASOS from GBX 375 to GBX 400 and gave the stock a "buy" rating in a report 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 set a GBX 600 price target on shares of ASOS in a research note on Wednesday, July 1st. Finally, JPMorgan Chase & Co. raised their price target on ASOS from GBX 285 to GBX 330 and gave the stock a "neutral" rating in a research note on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, ASOS has an average rating of "Moderate Buy" and an average price target of GBX 375.86.

ASOS Price Performance

Shares of LON:ASC opened at GBX 369 on Wednesday. ASOS has a 12 month low of GBX 206.50 and a 12 month high of GBX 390.50. The firm has a market capitalization of £441.50 million, a P/E ratio of -1.91, a P/E/G ratio of -1.26 and a beta of 2.28. The company has a debt-to-equity ratio of 855.63, a current ratio of 0.95 and a quick ratio of 0.39. The company's fifty day moving average price is GBX 312.13 and its 200 day moving average price is GBX 275.75.

Insiders Place Their Bets

In other news, insider William Barker acquired 89,691 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of GBX 229 per share, with a total value of £205,392.39. 19.82% of the stock is currently owned by company 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.

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