Ocado Group (LON:OCDO) Hits New 1-Year High – What’s Next?

Ocado Group plc (LON:OCDO) reached a new 52-week high during trading on Friday. The company traded as high as GBX 300 and last traded at GBX 297.85, with a volume of 1341847 shares changing hands. The stock had previously closed at GBX 283.80.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their price target on shares of Ocado Group from GBX 245 to GBX 290 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 300.

Ocado Group Price Performance

The stock has a fifty day moving average price of GBX 232.86 and a 200-day moving average price of GBX 205.94. The firm has a market capitalization of £2.51 billion, a PE ratio of -9.90 and a beta of 2.41. 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 issued its quarterly earnings data 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%.

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.