ASOS (LON:ASC) Shares Down 6.8% – What’s Next?

ASOS Plc (LON:ASC)’s share price dropped 6.8% during mid-day trading on Tuesday. The company traded as low as GBX 426.50 and last traded at GBX 467.75. Approximately 4,428,978 shares traded hands during trading, a decline of 1% from the average daily volume of 4,451,911 shares. The stock had previously closed at GBX 502.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ASC shares. Shore Capital Group upgraded shares of ASOS to a “buy” rating and set a GBX 520 price objective for the company in a research note on Thursday, September 24th. JPMorgan Chase & Co. raised their target price on ASOS from GBX 285 to GBX 330 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. Berenberg Bank boosted their price target on ASOS from GBX 600 to GBX 750 and gave the company a “buy” rating in a research note on Thursday, September 24th. Finally, 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. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, ASOS presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 440.71.

ASOS Stock Down 6.8%

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 stock has a market cap of £559.66 million, a PE ratio of -2.42, a P/E/G ratio of -1.26 and a beta of 2.32. The business has a 50 day moving average price of GBX 416.99 and a 200 day moving average price of GBX 318.25.

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.