ASOS's (ASC) "Buy" Rating Reaffirmed at Berenberg Bank

Key Points

• Berenberg Bank reaffirmed a Buy rating on ASOS with a GBX 600 price target, implying roughly a 150% upside from the prior close.
• Analyst consensus is a Moderate Buy—four analysts rate ASOS Buy and two Hold, with a consensus target of GBX 383.33.
• Insider buying has accelerated: insider William Barker bought 132,455 shares at GBX 381, insiders acquired 223,531 shares in the last three months, and insiders now own 18.4% of the stock.

ASOS (LON:ASC - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Berenberg Bank in a research note issued on Wednesday, Marketbeat Ratings reports. They currently have a GBX 600 price target on the stock. Berenberg Bank's price target suggests a potential upside of 150.22% from the stock's previous close.

Separately, Shore Capital Group restated a "buy" rating and issued a GBX 400 price objective on shares of ASOS in a report on Thursday, December 4th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, ASOS presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 383.33.

ASOS Trading Up 13.1%

Shares of LON:ASC opened at GBX 239.79 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.39 and a debt-to-equity ratio of 342.80. The stock has a market capitalization of £286.40 million, a PE ratio of -0.96, a P/E/G ratio of -1.26 and a beta of 2.30. ASOS has a 1 year low of GBX 206.50 and a 1 year high of GBX 375.30. The firm has a fifty day moving average price of GBX 279.94 and a 200 day moving average price of GBX 268.44.

Insiders Place Their Bets

In other ASOS news, insider William Barker acquired 132,455 shares of the stock in a transaction dated Tuesday, January 20th. The shares were bought at an average cost of GBX 381 per share, for a total transaction of £504,653.55. Over the last three months, insiders have acquired 223,531 shares of company stock valued at $76,003,437. 18.40% of the stock is currently owned by corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.