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

JPMorgan Chase & Co. cut shares of ASOS (LON:ASCGet Rating) to a neutral rating in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has GBX 1,500 ($18.37) target price on the stock, down from their prior target price of GBX 2,900 ($35.52).

Other equities research analysts also recently issued reports about the company. Morgan Stanley set a GBX 1,400 ($17.15) price target on ASOS in a research report on Friday, June 17th. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and issued a GBX 3,850 ($47.16) price target on shares of ASOS in a research report on Wednesday, April 13th. Credit Suisse Group set a GBX 1,450 ($17.76) price target on ASOS in a research report on Monday. Deutsche Bank Rese… set a GBX 2,900 ($35.52) price target on ASOS in a research report on Tuesday, April 19th. Finally, Berenberg Bank lowered their price target on 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. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, ASOS has a consensus rating of Moderate Buy and an average target price of GBX 2,415.36 ($29.59).

ASOS stock opened at GBX 887.50 ($10.87) on Tuesday. The company has a debt-to-equity ratio of 77.77, a current ratio of 1.59 and a quick ratio of 0.52. The company has a market capitalization of £886.97 million and a price-to-earnings ratio of 26.73. ASOS has a one year low of GBX 775 ($9.49) and a one year high of GBX 5,242.75 ($64.22). The company’s fifty day moving average price is GBX 1,348.12 and its two-hundred day moving average price is GBX 1,787.98.

In other ASOS news, insider Jørgen Lindemann purchased 57,392 shares of the business’s stock in a transaction on Thursday, June 16th. The stock was purchased at an average price 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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