ASOS (LON:ASC) Trading 14.3% Higher – Time to Buy?

ASOS Plc (LON:ASC)’s share price rose 14.3% during trading on Thursday . The stock traded as high as GBX 276 and last traded at GBX 263. Approximately 867,413 shares traded hands during trading, an increase of 147% from the average daily volume of 350,990 shares. The stock had previously closed at GBX 230.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ASC. Shore Capital restated a “buy” rating and issued a GBX 400 price target on shares of ASOS in a research note on Wednesday, October 1st. Berenberg Bank restated a “buy” rating and issued a GBX 600 target price on shares of ASOS in a research note on Thursday. Finally, Peel Hunt reissued an “add” rating and issued a GBX 335 price objective on shares of ASOS in a report on Thursday. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of GBX 445.

ASOS Price Performance

The company has a debt-to-equity ratio of 187.55, a quick ratio of 0.39 and a current ratio of 1.61. The company’s fifty day moving average price is GBX 261.32 and its 200 day moving average price is GBX 293.41. The firm has a market capitalization of £313.46 million, a price-to-earnings ratio of -1.07, a price-to-earnings-growth ratio of -1.26 and a beta of 2.86.

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.