Ocado Group (LON:OCDO) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Ocado Group plc (LON:OCDO)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 203.20 and traded as high as GBX 221.40. Ocado Group shares last traded at GBX 220, with a volume of 4,753,629 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Ocado Group from GBX 290 to GBX 245 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 310 target price on shares of Ocado Group in a research report on Monday, June 1st. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of GBX 277.50.

Ocado Group Stock Performance

The firm’s fifty day moving average price is GBX 189.89 and its 200 day moving average price is GBX 202.21. The firm has a market cap of £1.75 billion, a P/E ratio of -6.93 and a beta of 2.39. 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 (LON:OCDO) last released its quarterly earnings data on Thursday, July 16th. The company reported GBX (3.90) earnings per share (EPS) for the quarter. Ocado Group had a negative net margin of 14.29% and a negative return on equity of 15.94%.

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.