Barclays PLC Downgrades Ocado Group PLC (OCDO) to Sell
Ocado Group PLC (LON:OCDO) was downgraded by equities researchers at Barclays PLC to a “sell” rating in a research note issued to investors on Wednesday. They presently have a GBX 220 ($2.87) price target on the stock. Barclays PLC’s price target would indicate a potential downside of 18.15% from the stock’s previous close.
OCDO has been the topic of several other research reports. Goldman Sachs Group Inc. reissued a “conviction-buy” rating and issued a GBX 615 ($8.03) price target on shares of Ocado Group PLC in a research note on Friday, August 19th. Societe Generale dropped their price target on Ocado Group PLC from GBX 193 ($2.52) to GBX 189 ($2.47) and set a “sell” rating on the stock in a research note on Wednesday, September 14th. Numis Securities Ltd reissued a “buy” rating and issued a GBX 400 ($5.22) price target on shares of Ocado Group PLC in a research note on Tuesday, June 28th. HSBC reissued a “reduce” rating and issued a GBX 200 ($2.61) price target on shares of Ocado Group PLC in a research note on Wednesday, June 1st. Finally, Jefferies Group reissued a “hold” rating and issued a GBX 265 ($3.46) price target on shares of Ocado Group PLC in a research note on Tuesday, May 24th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of GBX 324.17 ($4.23).
Shares of Ocado Group PLC (LON:OCDO) opened at 269.00 on Wednesday. The firm has a 50 day moving average price of GBX 290.24 and a 200-day moving average price of GBX 279.56. Ocado Group PLC has a 12 month low of GBX 203.00 and a 12 month high of GBX 412.70. The company’s market cap is GBX 1.59 billion.
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In other Ocado Group PLC news, insider Tatton-Brown,Duncan purchased 100,000 shares of the stock in a transaction on Friday, July 1st. The shares were purchased at an average price of GBX 227 ($2.96) per share, with a total value of £227,000 ($296,305.97).
Ocado Group PLC Company Profile
Ocado Group plc is a United Kingdom-based company engaged in grocery retailing and the development and monetization of intellectual property (IP) and technology used for the online retailing, logistics and distribution of grocery and consumer goods. The Company sells groceries and other every day and specialist products to consumers placing orders through its interfaces.
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