JPMorgan Chase & Co. Cuts Ocado Group (LON:OCDO) Price Target to GBX 245

Ocado Group (LON:OCDO) had its target price decreased by JPMorgan Chase & Co. from GBX 290 to GBX 245 in a report issued on Friday morning,Digital Look reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Separately, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 310 price target on shares of Ocado Group in a research report on Monday, June 1st. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of GBX 277.50.

Ocado Group Stock Performance

LON:OCDO opened at GBX 165.20 on Friday. The firm’s fifty day moving average is GBX 190.13 and its 200-day moving average is GBX 208.06. The company has a debt-to-equity ratio of 110.64, a quick ratio of 2.81 and a current ratio of 1.41. Ocado Group has a 52 week low of GBX 140.30 and a 52 week high of GBX 397.90. The firm has a market cap of £1.38 billion, a P/E ratio of 3.39 and a beta of 2.39.

Ocado Group (LON:OCDO) last announced its 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 News Roundup

Here are the key news stories impacting Ocado Group this week:

• Neutral Sentiment: Ocado reported quarterly earnings with EPS of GBX (3.90), but the market appeared to focus more on the company’s ongoing challenges and execution outlook than on the headline numbers. Ocado Group earnings report
• Neutral Sentiment: Insider buying by Tim Steiner and Stephen Daintith, each purchasing 87 shares at GBX 172, may signal confidence, but the trades were very small and likely have limited direct impact on the stock. Insider buying alert
• Neutral Sentiment: JPMorgan Chase & Co. cut its price target on Ocado to GBX 245 from GBX 290, but kept an overweight rating, which suggests continued long-term optimism even as near-term expectations are trimmed. JPMorgan price target update
• Negative Sentiment: Reports that Ocado shares hit a 13-year low amid weak progress in winning new U.S. partners likely weighed on sentiment, as investors remain concerned about growth prospects and commercialization momentum. Ocado shares hit 13-year low report

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.