ASOS (LON:ASC) Cut to “Underweight” at Morgan Stanley

Morgan Stanley cut shares of ASOS (LON:ASC) to an underweight rating in a research report released on Monday morning, Borsen Zeitung reports. The brokerage currently has GBX 2,000 ($26.31) target price on the stock, down from their prior target price of GBX 2,100 ($27.62).

Several other brokerages have also recently weighed in on ASC. Shore Capital raised shares of ASOS to a hold rating in a research note on Friday, January 10th. Peel Hunt reaffirmed an add rating on shares of ASOS in a research note on Monday, January 13th. UBS Group set a GBX 3,200 ($42.09) price objective on shares of ASOS and gave the stock a neutral rating in a research note on Friday, November 29th. Royal Bank of Canada set a GBX 3,900 ($51.30) price objective on shares of ASOS and gave the stock a buy rating in a research note on Monday, January 6th. Finally, Liberum Capital started coverage on shares of ASOS in a research note on Wednesday, October 16th. They set a hold rating and a GBX 2,800 ($36.83) price target on the stock. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of GBX 3,341.56 ($43.96).

Shares of ASOS stock opened at GBX 3,182 ($41.86) on Monday. The company has a current ratio of 0.81, a quick ratio of 0.07 and a debt-to-equity ratio of 19.95. The stock has a market capitalization of $2.54 billion and a price-to-earnings ratio of 108.23. ASOS has a 1-year low of GBX 2,033 ($26.74) and a 1-year high of GBX 4,090 ($53.80). The firm’s 50-day moving average price is GBX 3,197.60 and its two-hundred day moving average price is GBX 2,841.94.

In related news, insider Nick Beighton sold 3,140 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of GBX 3,459 ($45.50), for a total value of £108,612.60 ($142,873.72). Also, insider Mathew Dunn sold 9,433 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of GBX 3,047 ($40.08), for a total transaction of £287,423.51 ($378,089.33).

About ASOS

ASOS Plc, together with its subsidiaries, operates as an online fashion retailer in the United Kingdom, the United States, Australia, France, Germany, Spain, Italy, Sweden, the Netherlands, and Russia. The company offers womenswear, menswear, and sportswear products. It sells approximately 85,000 branded and ASOS brand products primarily through its Website, asos.com, as well as through social media platforms and magazines.

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Analyst Recommendations for ASOS (LON:ASC)

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