Ocado Group (LON:OCDO) Trading 9.9% Higher After Analyst Upgrade

Ocado Group plc (LON:OCDO) was up 9.9% during mid-day trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from GBX 245 to GBX 290. JPMorgan Chase & Co. currently has an overweight rating on the stock. Ocado Group traded as high as GBX 256 and last traded at GBX 242.37. Approximately 14,041,405 shares traded hands during trading, a decline of 35% from the average daily volume of 21,552,111 shares. The stock had previously closed at GBX 220.60.

Separately, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 310 price objective on shares of Ocado Group in a report on Monday, June 1st. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Ocado Group currently has an average rating of “Buy” and an average target price of GBX 300.

Ocado Group Stock Up 9.9%

The company has a debt-to-equity ratio of 110.64, a current ratio of 1.41 and a quick ratio of 2.81. The firm’s 50-day moving average is GBX 190.24 and its 200 day moving average is GBX 200.68. The stock has a market cap of £2.02 billion, a price-to-earnings ratio of -8.00 and a beta of 2.40.

Ocado Group (LON:OCDO) last posted its quarterly earnings results on Thursday, July 16th. The company reported GBX (3.90) earnings per share for the quarter. Ocado Group had a negative return on equity of 15.94% and a negative net margin of 14.29%.

Ocado Group Company Profile

Ocado Group is a UK based technology company that provides end-to-end online grocery fulfilment solutions, known as the Ocado Smart Platform, to some of the world’s largest grocery retailers and holds a 50% share of Ocado Retail Ltd in the UK in a Joint Venture with Marks & Spencer. OSP comprises access to Ocado’s physical infrastructure solutions, running highly efficient warehouse operations for the single pick of products, together with the entire end-to-end proprietary software applications required to operate a world class online grocery business.