Ocado Group (LON:OCDO) Sets New 12-Month High – Here’s What Happened

Ocado Group plc (LON:OCDO)’s stock price hit a new 52-week high during trading on Tuesday. The company traded as high as GBX 356 and last traded at GBX 353.60, with a volume of 1,880,170 shares changing hands. The stock had previously closed at GBX 334.20.

Wall Street Analyst Weigh In

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

Ocado Group Stock Down 1.9%

The company has a debt-to-equity ratio of 110.64, a current ratio of 1.41 and a quick ratio of 2.81. The firm’s 50-day moving average is GBX 276.64 and its 200 day moving average is GBX 222.47. The stock has a market cap of £2.92 billion, a price-to-earnings ratio of -11.52 and a beta of 2.36.

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.