Ocado Group (LON:OCDO) Sets New 12-Month High on Analyst Upgrade

Ocado Group PLC (LON:OCDO) shares reached a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from GBX 1,400 to GBX 1,650. JPMorgan Chase & Co. currently has a neutral rating on the stock. Ocado Group traded as high as GBX 2,608 ($34.08) and last traded at GBX 2,608 ($34.08), with a volume of 3287023 shares trading hands. The stock had previously closed at GBX 2,355 ($30.77).

OCDO has been the subject of several other reports. Peel Hunt reaffirmed a “buy” rating on shares of Ocado Group in a research report on Tuesday, July 14th. Credit Suisse Group raised their target price on Ocado Group from GBX 932 ($12.18) to GBX 1,088 ($14.22) and gave the stock an “underperform” rating in a research report on Tuesday, May 26th. Shore Capital reaffirmed a “not rated” rating on shares of Ocado Group in a research report on Tuesday. Bank of America reaffirmed a “buy” rating and issued a GBX 2,230 ($29.14) target price on shares of Ocado Group in a research report on Monday, June 22nd. Finally, Citigroup reissued a “buy” rating and set a GBX 2,900 ($37.89) price objective on shares of Ocado Group in a report on Monday, August 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of GBX 1,699.42 ($22.21).

The company has a market capitalization of $19.76 billion and a price-to-earnings ratio of -153.55. The company has a debt-to-equity ratio of 99.14, a current ratio of 2.75 and a quick ratio of 2.58. The stock has a 50 day moving average price of GBX 2,315.86 and a two-hundred day moving average price of GBX 1,871.67.

Ocado Group Company Profile (LON:OCDO)

Ocado Group plc operates as an online grocery retailer in the United Kingdom and internationally. The company operates through two segments, Retail and Solutions. It sells general merchandise products on its Ocado.com hypermarket through three specialty destination sites, including Fetch, a pet store; Sizzle, a kitchen and dining store; and Fabled, a premium beauty store.

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