JPMorgan Chase & Co. Raises Ocado Group (LON:OCDO) Price Target to GBX 1,073

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Ocado Group (LON:OCDO) had its price target upped by equities research analysts at JPMorgan Chase & Co. from GBX 1,070 ($13.98) to GBX 1,073 ($14.02) in a research note issued to investors on Monday, Digital Look reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 11.65% from the stock’s current price.

OCDO has been the topic of a number of other reports. Peel Hunt restated a “buy” rating on shares of Ocado Group in a research note on Monday, August 5th. Royal Bank of Canada restated a “sector perform” rating and issued a GBX 1,000 ($13.07) target price on shares of Ocado Group in a research note on Tuesday, July 9th. Citigroup reiterated a “buy” rating on shares of Ocado Group in a research report on Wednesday, July 10th. Bank of America increased their price objective on Ocado Group from GBX 1,020 ($13.33) to GBX 1,630 ($21.30) and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a GBX 1,320 ($17.25) price objective on shares of Ocado Group in a research report on Monday, August 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of GBX 1,165.73 ($15.23).

Shares of LON OCDO opened at GBX 1,214.50 ($15.87) on Monday. The firm has a market capitalization of $8.59 billion and a P/E ratio of -49.17. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 94.24. The stock’s 50-day simple moving average is GBX 1,193.19 and its two-hundred day simple moving average is GBX 1,189.07. Ocado Group has a twelve month low of GBX 730.60 ($9.55) and a twelve month high of GBX 1,440.50 ($18.82).

In related news, insider Stuart Rose sold 150,000 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of GBX 1,199 ($15.67), for a total transaction of £1,798,500 ($2,350,058.80). Also, insider Luke Jensen bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average price of GBX 1,153 ($15.07) per share, with a total value of £115,300 ($150,659.87).

Ocado Group Company Profile

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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Analyst Recommendations for Ocado Group (LON:OCDO)

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