ASOS (LON:ASC) Price Target Cut to GBX 1,700

ASOS (LON:ASCGet Rating) had its price objective dropped by investment analysts at Liberum Capital from GBX 2,300 ($29.97) to GBX 1,700 ($22.15) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm currently has a “hold” rating on the stock. Liberum Capital’s price target suggests a potential upside of 12.88% from the stock’s previous close.

A number of other brokerages also recently issued reports on ASC. Barclays lowered their price target on shares of ASOS from GBX 2,280 ($29.71) to GBX 2,125 ($27.69) and set an “equal weight” rating on the stock in a report on Wednesday. Berenberg Bank lowered their target price on shares of ASOS from GBX 5,500 ($71.67) to GBX 4,100 ($53.43) and set a “buy” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 3,850 ($50.17) price objective on shares of ASOS in a research report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a GBX 7,200 ($93.82) target price on shares of ASOS in a research note on Monday. Finally, JPMorgan Chase & Co. reduced their price target on ASOS from GBX 3,300 ($43.00) to GBX 2,900 ($37.79) and set an “overweight” rating on the stock in a research report on Thursday, March 10th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, ASOS currently has a consensus rating of “Buy” and a consensus price target of GBX 3,748.08 ($48.84).

Shares of LON ASC opened at GBX 1,506 ($19.62) on Tuesday. The company has a debt-to-equity ratio of 76.61, a quick ratio of 0.72 and a current ratio of 1.56. ASOS has a fifty-two week low of GBX 1,442.41 ($18.80) and a fifty-two week high of GBX 5,514 ($71.85). The stock has a market cap of £1.51 billion and a PE ratio of 12.02. The stock has a fifty day moving average of GBX 1,799.91 and a 200-day moving average of GBX 2,247.98.

In other ASOS news, insider Nicholas Robertson sold 132,481 shares of the company’s stock in a transaction on Monday, January 31st. The shares were sold at an average price of GBX 2,204 ($28.72), for a total transaction of £2,919,881.24 ($3,804,901.28).

About ASOS (Get Rating)

ASOS Plc operates as an online fashion retailer worldwide. It offers womenswear and menswear products. The company sells its products under the ASOS Design, ASOS Edition, ASOS 4505, Collusion, Reclaimed Vintage, Topshop, Topman, Miss Selfridge and HIIT brands, as well as through third-party brands. It is also involved in the employer of marketing staff and payment processing businesses.

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Analyst Recommendations for ASOS (LON:ASC)

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