ASOS (LON:ASC) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• ASOS shares moved above their 200-day moving average, reaching GBX 398.50 and last trading at GBX 394, compared with the 200-day average of GBX 279.44.
• Analyst sentiment is generally positive, with four Buy ratings and three Holds. The consensus rating is “Moderate Buy,” with an average price target of GBX 375.86, although individual targets range from GBX 330 to GBX 600.
• Insider William Barker purchased 89,691 shares for approximately £205,392, while insiders collectively own 19.82% of ASOS. The company nevertheless reports substantial leverage, with a debt-to-equity ratio of 855.63 and a quick ratio of 0.39.

Shares of ASOS Plc (LON:ASC - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 279.44 and traded as high as GBX 398.50. ASOS shares last traded at GBX 394, with a volume of 136,711 shares trading hands.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of ASOS from GBX 375 to GBX 400 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Berenberg Bank reiterated a "buy" rating and set a GBX 600 price objective on shares of ASOS in a research report on Wednesday, July 1st. Shore Capital Group reissued a "buy" rating on shares of ASOS in a research note on Thursday, April 23rd. Royal Bank Of Canada raised their price objective on ASOS from GBX 275 to GBX 400 and gave the stock a "sector perform" rating in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. lifted their target price on ASOS from GBX 285 to GBX 330 and gave the stock a "neutral" rating in a report on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of GBX 375.86.

ASOS Stock Performance

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 firm has a market cap of £471.42 million, a price-to-earnings ratio of -2.04, a PEG ratio of -1.26 and a beta of 2.31. The company has a 50-day moving average price of GBX 326.57 and a 200 day moving average price of GBX 279.44.

Insiders Place Their Bets

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

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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