ASOS (LON:ASC) Shares Up 18.4% – Here’s Why

ASOS Plc (LON:ASC) shot up 18.4% during mid-day trading on Friday . The stock traded as high as GBX 318.60 ($4.11) and last traded at GBX 301.80 ($3.90). 1,883,284 shares were traded during mid-day trading, an increase of 268% from the average session volume of 511,206 shares. The stock had previously closed at GBX 255 ($3.29).

Analysts Set New Price Targets

Separately, Shore Capital upgraded ASOS to a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, ASOS currently has a consensus rating of “Hold” and an average target price of GBX 391 ($5.05).

ASOS Trading Up 18.4 %

The stock has a market capitalization of £361.77 million, a price-to-earnings ratio of -1.07, a P/E/G ratio of -1.26 and a beta of 2.86. 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 firm has a fifty day moving average of GBX 354.63 and a 200-day moving average of GBX 384.45.

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 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.