Ocado Group (LON:OCDO) Reaches New 52-Week High – What’s Next?

Ocado Group plc (LON:OCDO)’s share price reached a new 52-week high during mid-day trading on Thursday. The stock traded as high as GBX 311 and last traded at GBX 306.20, with a volume of 2,914,427 shares traded. The stock had previously closed at GBX 302.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised their target price on shares of Ocado Group from GBX 245 to GBX 290 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of GBX 300.

Ocado Group Stock Up 2.4%

The firm has a 50-day simple moving average of GBX 239.71 and a 200 day simple moving average of GBX 209.11. 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 company has a market capitalization of £2.59 billion, a PE ratio of -10.20 and a beta of 2.41.

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

About Ocado Group

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.