Ocado Group PLC (OCDO) Price Target Cut to GBX 450
Ocado Group PLC (LON:OCDO) had its target price reduced by analysts at Goldman Sachs Group Inc. from GBX 615 ($8.03) to GBX 450 ($5.87) in a report released on Friday. The brokerage currently has a “conviction-buy” rating on the stock. Goldman Sachs Group Inc.’s target price suggests a potential upside of 64.23% from the company’s previous close.
OCDO has been the subject of a number of other research reports. Barclays PLC reaffirmed an “equal weight” rating and set a GBX 265 ($3.46) price target on shares of Ocado Group PLC in a report on Friday, September 9th. Societe Generale dropped their price objective on shares of Ocado Group PLC from GBX 193 ($2.52) to GBX 189 ($2.47) and set a “sell” rating for the company in a research note on Wednesday, September 14th. Numis Securities Ltd reissued a “buy” rating and issued a GBX 400 ($5.22) price objective on shares of Ocado Group PLC in a research note on Tuesday, June 28th. HSBC reissued a “reduce” rating and issued a GBX 200 ($2.61) price objective on shares of Ocado Group PLC in a research note on Wednesday, June 1st. Finally, Jefferies Group reissued a “hold” rating and issued a GBX 265 ($3.46) price objective on shares of Ocado Group PLC in a research note on Tuesday, May 24th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of GBX 327.92 ($4.28).
Ocado Group PLC (LON:OCDO) opened at 274.00 on Friday. Ocado Group PLC has a 12 month low of GBX 203.00 and a 12 month high of GBX 412.70. The stock’s 50 day moving average is GBX 290.84 and its 200-day moving average is GBX 279.41. The company’s market capitalization is GBX 1.62 billion.
In other news, insider Tatton-Brown,Duncan acquired 100,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was bought at an average cost of GBX 227 ($2.96) per share, for a total transaction of £227,000 ($296,305.97).
About Ocado Group PLC
Ocado Group plc is a United Kingdom-based company engaged in grocery retailing and the development and monetization of intellectual property (IP) and technology used for the online retailing, logistics and distribution of grocery and consumer goods. The Company sells groceries and other every day and specialist products to consumers placing orders through its interfaces.
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