Ocado Group (LON:OCDO) Stock Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Ocado Group plc (LON:OCDO) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of GBX 201.60 and traded as high as GBX 235. Ocado Group shares last traded at GBX 227.40, with a volume of 24,184,402 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on OCDO. JPMorgan Chase & Co. increased their target price on Ocado Group from GBX 245 to GBX 290 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 310 price objective on shares of Ocado Group in a research report on Monday, June 1st. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ocado Group has an average rating of “Buy” and a consensus target price of GBX 300.

Ocado Group Trading Up 1.0%

The business’s fifty day moving average price is GBX 218.54 and its 200 day moving average price is GBX 201.86. The company has a quick ratio of 2.81, a current ratio of 1.41 and a debt-to-equity ratio of 110.64. The firm has a market capitalization of £1.95 billion, a PE ratio of -7.70 and a beta of 2.41.

Ocado Group (LON:OCDO) last announced 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.