Deutsche Bank AG Downgrades Ocado Group PLC (OCDO) to Sell
Ocado Group PLC (LON:OCDO) was downgraded by stock analysts at Deutsche Bank AG to a “sell” rating in a research note issued on Wednesday. They currently have a GBX 220 ($2.87) price target on the stock. Deutsche Bank AG’s price objective would indicate a potential downside of 18.15% from the company’s previous close.
OCDO has been the topic of several other research reports. Goldman Sachs Group Inc. decreased their target price on Ocado Group PLC from GBX 615 ($8.03) to GBX 450 ($5.87) and set a “conviction-buy” rating on the stock in a research note on Friday, September 16th. Numis Securities Ltd reissued a “buy” rating and set a GBX 400 ($5.22) target price on shares of Ocado Group PLC in a research note on Tuesday, June 28th. Barclays PLC downgraded Ocado Group PLC to a “sell” rating and set a GBX 220 ($2.87) target price on the stock. in a research note on Wednesday. HSBC reissued a “reduce” rating and set a GBX 190 ($2.48) target price on shares of Ocado Group PLC in a research note on Wednesday, September 14th. Finally, Shore Capital reissued a “sell” rating on shares of Ocado Group PLC in a research note on Tuesday, June 28th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Ocado Group PLC currently has an average rating of “Hold” and a consensus target price of GBX 324.17 ($4.23).
Shares of Ocado Group PLC (LON:OCDO) opened at 263.20 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. The company’s market cap is GBX 1.56 billion. Ocado Group PLC has a 12 month low of GBX 203.00 and a 12 month high of GBX 412.70.
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In other Ocado Group PLC news, insider Tatton-Brown,Duncan acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was bought at an average price of GBX 227 ($2.96) per share, for a total transaction of £227,000 ($296,305.97).
About Ocado Group PLC
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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