JPMorgan Chase & Co. Lowers Ocado Group (LON:OCDO) Price Target to GBX 245

Ocado Group (LON:OCDO) had its target price lowered by analysts at JPMorgan Chase & Co. from GBX 290 to GBX 245 in a research report issued to clients and investors on Friday,Digital Look reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 48.31% from the stock’s current price.

Separately, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 310 price target on shares of Ocado Group in a research note on Monday, June 1st. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of GBX 277.50.

Ocado Group Price Performance

Shares of OCDO stock opened at GBX 165.20 on Friday. The firm has a market cap of £1.38 billion, a price-to-earnings ratio of 3.39 and a beta of 2.39. Ocado Group has a 12 month low of GBX 140.30 and a 12 month high of GBX 397.90. The company has a quick ratio of 2.81, a current ratio of 1.41 and a debt-to-equity ratio of 110.64. The stock has a 50-day moving average price of GBX 190.13 and a 200 day moving average price of GBX 208.28.

Ocado Group (LON:OCDO) last released its earnings results on Thursday, July 16th. The company reported GBX (3.90) earnings per share (EPS) for the quarter. Ocado Group had a negative net margin of 14.29% and a negative return on equity of 15.94%.

Ocado Group News Summary

Here are the key news stories impacting Ocado Group this week:

• Neutral Sentiment: Ocado reported quarterly earnings with EPS of GBX (3.90), but the market appeared to focus more on the company’s ongoing challenges and execution outlook than on the headline numbers. Ocado Group earnings report
• Neutral Sentiment: Insider buying by Tim Steiner and Stephen Daintith, each purchasing 87 shares at GBX 172, may signal confidence, but the trades were very small and likely have limited direct impact on the stock. Insider buying alert
• Neutral Sentiment: JPMorgan Chase & Co. cut its price target on Ocado to GBX 245 from GBX 290, but kept an overweight rating, which suggests continued long-term optimism even as near-term expectations are trimmed. JPMorgan price target update
• Negative Sentiment: Reports that Ocado shares hit a 13-year low amid weak progress in winning new U.S. partners likely weighed on sentiment, as investors remain concerned about growth prospects and commercialization momentum. Ocado shares hit 13-year low report

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.