ASOS Plc (LON:ASC)’s share price hit a new 52-week low during mid-day trading on Tuesday after Berenberg Bank lowered their price target on the stock from GBX 6,500 to GBX 5,500. Berenberg Bank currently has a buy rating on the stock. ASOS traded as low as GBX 2,284 ($29.84) and last traded at GBX 2,355 ($30.77), with a volume of 140734 shares. The stock had previously closed at GBX 2,408 ($31.46).
Several other analysts also recently commented on the stock. Barclays reduced their price target on shares of ASOS from GBX 5,000 ($65.33) to GBX 4,250 ($55.53) and set an “equal weight” rating for the company in a research report on Friday, October 8th. UBS Group set a GBX 4,000 ($52.26) price target on shares of ASOS in a research report on Monday. Jefferies Financial Group set a GBX 5,800 ($75.78) price target on shares of ASOS in a research report on Friday, July 16th. 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, Credit Suisse Group set a GBX 6,050 ($79.04) price objective on shares of ASOS in a research note on Thursday, July 22nd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of GBX 5,433.08 ($70.98).
In related news, insider Ian Dyson purchased 4,500 shares of the firm’s stock in a transaction dated Tuesday, October 12th. The stock was acquired at an average price of GBX 2,317 ($30.27) per share, with a total value of £104,265 ($136,222.89).
About ASOS (LON:ASC)
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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