Ocado Group (LON:OCDO) Price Target Cut to GBX 850

Ocado Group (LON:OCDOGet Rating) had its target price reduced by equities research analysts at JPMorgan Chase & Co. from GBX 1,550 ($19.50) to GBX 850 ($10.70) in a report released on Friday, Marketbeat.com reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 1.30% from the company’s current price.

Other analysts also recently issued research reports about the stock. Morgan Stanley reissued an “overweight” rating on shares of Ocado Group in a research report on Wednesday, May 11th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 1,800 ($22.65) price objective on shares of Ocado Group in a research report on Thursday, April 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a GBX 1,700 ($21.39) price objective on shares of Ocado Group in a research report on Monday, May 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of GBX 2,295 ($28.88).

Shares of OCDO stock opened at GBX 861.20 ($10.84) on Friday. The firm has a market cap of £6.47 billion and a P/E ratio of -28.43. Ocado Group has a 1-year low of GBX 9.50 ($0.12) and a 1-year high of GBX 2,105 ($26.49). The company has a debt-to-equity ratio of 106.96, a current ratio of 4.04 and a quick ratio of 3.84. The firm’s 50-day simple moving average is GBX 999.56 and its 200-day simple moving average is GBX 1,335.36.

In related news, insider Richard N. (Rick) Haythornthwaite purchased 12,600 shares of the firm’s stock in a transaction dated Monday, May 9th. The stock was acquired at an average price of GBX 794 ($9.99) per share, with a total value of £100,044 ($125,889.01). Insiders have bought 12,643 shares of company stock valued at $10,048,133 in the last three months.

Ocado Group Company Profile (Get Rating)

Ocado Group plc operates as an online grocery retailer in the United Kingdom and internationally. The company operates through three segments: Ocado Retail, UK Solutions & Logistics, and International Solutions. It also sells general merchandise products on its Ocado.com; provides online retail solutions; and offers customer fulfillment centre and logistics services.

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