Ocado Group (LON:OCDO) Hits New 52-Week High – Here’s Why

Ocado Group plc (LON:OCDO) hit a new 52-week high during mid-day trading on Tuesday. The stock 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.

Analysts Set New Price Targets

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

Ocado Group Trading Up 6.6%

The stock has a market cap of £2.98 billion, a price-to-earnings ratio of -11.76 and a beta of 2.36. The firm’s 50 day moving average is GBX 271.94 and its two-hundred day moving average is GBX 221.47. The company has a quick ratio of 2.81, a current ratio of 1.41 and a debt-to-equity ratio of 110.64.

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.