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

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

Wall Street Analysts Forecast Growth

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

ASOS Trading Up 18.4 %

The stock’s 50 day moving average is GBX 352.73 and its two-hundred day moving average is GBX 384.16. The company has a market capitalization of £361.77 million, a PE ratio of -1.07, a price-to-earnings-growth ratio of -1.26 and a beta of 2.86. The company has a quick ratio of 0.39, a current ratio of 1.61 and a debt-to-equity ratio of 187.55.

About ASOS

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.