JPMorgan Chase & Co. Lowers ASOS (LON:ASC) to Neutral

JPMorgan Chase & Co. downgraded shares of ASOS (LON:ASCGet Rating) to a neutral rating in a research note published on Tuesday, MarketBeat reports. They currently have GBX 1,500 ($18.37) price objective on the stock, down from their prior price objective of GBX 2,900 ($35.52).

Several other equities research analysts have also recently commented on the stock. The Goldman Sachs Group set a GBX 1,300 ($15.92) price objective on shares of ASOS in a research report on Monday. UBS Group set a GBX 1,700 ($20.82) price target on shares of ASOS in a research report on Friday, June 17th. Berenberg Bank cut their price target on shares of ASOS from GBX 4,100 ($50.22) to GBX 2,500 ($30.62) and set a buy rating on the stock in a research report on Thursday, June 16th. Credit Suisse Group set a GBX 1,450 ($17.76) price target on shares of ASOS in a research report on Monday. Finally, Shore Capital reissued an under review rating on shares of ASOS in a research report on Thursday, June 16th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, ASOS currently has a consensus rating of Moderate Buy and a consensus target price of GBX 2,415.36 ($29.59).

ASC opened at GBX 887.50 ($10.87) on Tuesday. The stock has a market capitalization of £886.97 million and a P/E ratio of 26.73. ASOS has a 12 month low of GBX 775 ($9.49) and a 12 month high of GBX 5,242.75 ($64.22). The firm’s fifty day simple moving average is GBX 1,348.12 and its 200 day simple moving average is GBX 1,787.98. The company has a current ratio of 1.59, a quick ratio of 0.52 and a debt-to-equity ratio of 77.77.

In other news, insider Jørgen Lindemann acquired 57,392 shares of the stock in a transaction dated Thursday, June 16th. The shares were bought at an average cost of GBX 854 ($10.46) per share, for a total transaction of £490,127.68 ($600,352.38).

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.

Further Reading

Analyst Recommendations for ASOS (LON:ASC)

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