ASOS (LON:ASC) Price Target Cut to GBX 3,300 by Analysts at JPMorgan Chase & Co.

ASOS (LON:ASC) had its price target dropped by stock analysts at JPMorgan Chase & Co. from GBX 6,680 ($87.27) to GBX 3,300 ($43.11) in a report issued on Thursday, Digital Look reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 43.29% from the company’s current price.

Several other analysts have also recently weighed in on the company. Berenberg Bank cut their price objective on ASOS from GBX 6,500 ($84.92) to GBX 5,500 ($71.86) and set a “buy” rating on the stock in a research report on Tuesday. Peel Hunt reissued a “buy” rating and set a GBX 6,500 ($84.92) price objective on shares of ASOS in a research report on Monday, July 12th. Shore Capital reaffirmed an “under review” rating on shares of ASOS in a research report on Monday. Royal Bank of Canada set a GBX 7,200 ($94.07) price target on shares of ASOS in a research report on Monday, October 4th. Finally, Peel Hunt reiterated a “buy” rating and set a GBX 6,500 ($84.92) target price on shares of ASOS in a report on Monday, July 12th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, ASOS has an average rating of “Buy” and an average price target of GBX 5,173.08 ($67.59).

Shares of ASOS stock opened at GBX 2,303 ($30.09) on Thursday. The company’s fifty day simple moving average is GBX 3,451.36 and its two-hundred day simple moving average is GBX 4,389.13. ASOS has a 12-month low of GBX 2,266 ($29.61) and a 12-month high of GBX 5,994.95 ($78.32). The company has a current ratio of 1.56, a quick ratio of 0.73 and a debt-to-equity ratio of 76.61. The company has a market cap of £2.30 billion and a P/E ratio of 18.37.

In related news, insider Ian Dyson acquired 4,500 shares of the firm’s stock in a transaction dated Tuesday, October 12th. The stock was purchased at an average cost of GBX 2,317 ($30.27) per share, with a total value of £104,265 ($136,222.89).

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 Russia. It offers womenswear and menswear products. The company sells approximately 85,000 products under the ASOS Design, ASOS Edition, ASOS 4505, and Collusion brands, a well as other global and local third-party brands products primarily through its website, asos.com, as well as through social media platforms.

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Analyst Recommendations for ASOS (LON:ASC)

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