Ocado Group (OCDO) Downgraded by HSBC to Reduce
Ocado Group (LON:OCDO) was downgraded by investment analysts at HSBC to a “reduce” rating in a research note issued on Thursday, ThisIsMoney.Co.Uk reports. They currently have a GBX 900 ($11.76) price target on the stock, up from their previous price target of GBX 750 ($9.80). HSBC’s price target suggests a potential downside of 35.87% from the stock’s current price.
A number of other analysts also recently commented on OCDO. Peel Hunt restated a “buy” rating on shares of Ocado Group in a research report on Thursday, December 13th. Numis Securities restated a “buy” rating and set a GBX 1,250 ($16.33) price target on shares of Ocado Group in a research report on Tuesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and set a GBX 750 ($9.80) price target on shares of Ocado Group in a research report on Tuesday, February 5th. UBS Group restated a “neutral” rating on shares of Ocado Group in a research report on Friday, February 8th. Finally, BNP Paribas restated an “underperform” rating and set a GBX 700 ($9.15) price target on shares of Ocado Group in a research report on Wednesday, March 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of GBX 962.50 ($12.58).
OCDO stock opened at GBX 1,403.50 ($18.34) on Thursday. Ocado Group has a 52 week low of GBX 492.80 ($6.44) and a 52 week high of GBX 1,409.50 ($18.42). The stock has a market cap of $9.73 billion and a price-to-earnings ratio of -203.41. The company has a debt-to-equity ratio of 64.79, a quick ratio of 1.53 and a current ratio of 1.75.
About Ocado Group
Ocado Group plc operates as an online grocery retailer in the United Kingdom and internationally. The company operates through two segments, Retail and Solutions. It sells general merchandise products on its Ocado.com hypermarket through three specialty destination sites, including Fetch, a pet store; Sizzle, a kitchen and dining store; and Fabled, a premium beauty store.
Featured Article: Why do commodities matter?
Receive News & Ratings for Ocado Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ocado Group and related companies with MarketBeat.com's FREE daily email newsletter.