ASOS (LON:ASC) Share Price Crosses Above 50-Day Moving Average – What’s Next?

ASOS Plc (LON:ASC) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-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 changing hands.

Wall Street Analyst Weigh In

Several research firms recently commented on ASC. Royal Bank Of Canada lifted their price target on ASOS from GBX 275 to GBX 400 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. Shore Capital Group upgraded ASOS to a “buy” rating and set a GBX 520 price objective on the stock in a research report on Thursday, September 24th. Berenberg Bank raised their price objective on ASOS from GBX 600 to GBX 750 and gave the company a “buy” rating in a research note on Thursday, September 24th. 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 analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 440.71.

ASOS Stock Up 0.8%

The company’s fifty day moving average price is GBX 441.49 and its 200-day moving average price is GBX 323.77. The stock has a market cap of £525.86 million, a P/E ratio of -2.27, a price-to-earnings-growth ratio of -1.26 and a beta of 2.32. 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 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.