Goldman Sachs Group Reaffirms “Buy” Rating for ASOS (LON:ASC)

ASOS (LON:ASC)‘s stock had its “buy” rating reissued by equities researchers at Goldman Sachs Group in a note issued to investors on Thursday, January 9th, Borsen Zeitung reports. They presently have a GBX 3,800 ($49.99) price objective on the stock. Goldman Sachs Group’s price objective would suggest a potential upside of 20.83% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Peel Hunt cut shares of ASOS to an “add” rating in a research report on Monday, January 6th. Morgan Stanley reiterated an “equal weight” rating on shares of ASOS in a research report on Monday, October 14th. JPMorgan Chase & Co. set a GBX 3,800 ($49.99) target price on shares of ASOS and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Shore Capital reiterated a “sell” rating on shares of ASOS in a research report on Friday, October 11th. Finally, Peel Hunt restated a “hold” rating and issued a GBX 3,000 ($39.46) price objective on shares of ASOS in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of GBX 3,313.44 ($43.59).

LON ASC opened at GBX 3,145 ($41.37) on Thursday. The company has a market capitalization of $2.64 billion and a price-to-earnings ratio of 106.97. The company has a current ratio of 0.81, a quick ratio of 0.07 and a debt-to-equity ratio of 19.95. ASOS has a 1-year low of GBX 2,033 ($26.74) and a 1-year high of GBX 4,090 ($53.80). The stock’s 50 day moving average is GBX 3,207.60 and its two-hundred day moving average is GBX 2,826.85.

In other news, insider Nick Beighton sold 3,140 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of GBX 3,459 ($45.50), for a total transaction of £108,612.60 ($142,873.72). Also, insider Mathew Dunn sold 9,433 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of GBX 3,047 ($40.08), for a total transaction of £287,423.51 ($378,089.33).

About ASOS

ASOS Plc, together with its subsidiaries, operates as an online fashion retailer in the United Kingdom, the United States, Australia, France, Germany, Spain, Italy, Sweden, the Netherlands, and Russia. The company offers womenswear, menswear, and sportswear products. It sells approximately 85,000 branded and ASOS brand products primarily through its Website, asos.com, as well as through social media platforms and magazines.

Further Reading: Derivative

Analyst Recommendations for ASOS (LON:ASC)

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