ASOS (LON:ASC) Shares Break Above 50-Day Moving Average - Here's What Happened

Key Points

• ASOS shares broke above their 50-day moving average, reaching GBX 446.50 before last trading at GBX 445 on volume of 6.15 million shares.
• Analyst sentiment is moderately positive: four analysts rate ASOS a Buy and three rate it Hold. Recent targets include GBX 520 from Shore Capital and GBX 750 from Berenberg, while the consensus target is GBX 440.71.
• Despite trading momentum, ASOS shows significant financial leverage, with a debt-to-equity ratio of 855.63 and a current ratio below 1.0; its market capitalization is approximately £528.85 million.

ASOS Plc (LON:ASC - Get Free Report) crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of GBX 439.75 and traded as high as GBX 446.50. ASOS shares last traded at GBX 445, with a volume of 6,151,442 shares.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of ASOS from GBX 285 to GBX 330 and gave the stock a "neutral" rating in a report on Thursday, July 2nd. Royal Bank Of Canada lifted their price target on shares of ASOS from GBX 275 to GBX 400 and gave the company a "sector perform" rating in a report on Wednesday, August 5th. Shore Capital Group upgraded shares of ASOS to a "buy" rating and set a GBX 520 price objective for the company in a research report on Thursday, September 24th. Finally, Berenberg Bank increased their price objective on shares of ASOS from GBX 600 to GBX 750 and gave the company a "buy" rating in a research note on Thursday, September 24th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of GBX 440.71.

ASOS Stock Down 0.7%

The firm has a 50-day simple moving average of GBX 439.75 and a 200 day simple moving average of GBX 322.38. The stock has a market capitalization of £528.85 million, a P/E ratio of -2.29, a P/E/G ratio of -1.26 and a beta of 2.32. The company has a debt-to-equity ratio of 855.63, a current ratio of 0.95 and a quick ratio of 0.39.

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.

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.