ASOS (LON:ASC) Stock Crosses Above 200 Day Moving Average - What's Next?

Key Points

• ASOS shares crossed above their 200-day moving average during Friday trading, with the stock reaching as high as GBX 359.50 and last trading at GBX 343.44. That move came well above the 200-day average of GBX 266.82.
• Analyst sentiment remains cautiously positive, with four Buy ratings and two Hold ratings. The consensus target price is GBX 371.83, while recent targets ranged from GBX 330 at JPMorgan to GBX 600 at Berenberg.
• Insider buying has been significant, highlighted by William Barker’s purchase of 1.63 million shares at GBX 235 each. Company insiders have bought 1.73 million shares over the past three months and now own 19.82% of ASOS.

ASOS Plc (LON:ASC - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 266.82 and traded as high as GBX 359.50. ASOS shares last traded at GBX 343.44, with a volume of 1,061,518 shares.

Wall Street Analysts Forecast Growth

ASC has been the subject of a number of recent research reports. Shore Capital Group restated a "buy" rating on shares of ASOS in a report on Thursday, April 23rd. JPMorgan Chase & Co. upped their price target on ASOS from GBX 285 to GBX 330 and gave the company a "neutral" rating in a research report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft upped their price target on ASOS from GBX 375 to GBX 400 and gave the company a "buy" rating in a research report on Tuesday, May 12th. Finally, Berenberg Bank restated a "buy" rating and set a GBX 600 price objective on shares of ASOS in a research report on Wednesday, July 1st. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of GBX 371.83.

ASOS Price Performance

The business's 50-day moving average price is GBX 269.42 and its 200 day moving average price is GBX 266.82. The stock has a market capitalization of £410.93 million, a PE ratio of -1.78, a price-to-earnings-growth ratio of -1.26 and a beta of 2.28. 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 - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The company reported GBX (109.90) earnings per share for the quarter. The company had revenue of GBX 111.60 billion during the quarter. ASOS had a negative return on equity of 155.17% and a negative net margin of 10.10%. Research analysts forecast that ASOS Plc will post 12.4165252 earnings per share for the current year.

Insider Activity at ASOS

In other news, insider William Barker bought 1,627,693 shares of the stock in a transaction dated Thursday, April 23rd. The stock was bought at an average price of GBX 235 per share, for a total transaction of £3,825,078.55. In the last three months, insiders purchased 1,733,163 shares of company stock valued at $407,118,076. Company insiders own 19.82% 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.

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