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

Ocado Group (LON:OCDO) had its price target reduced by JPMorgan Chase & Co. from GBX 290 to GBX 245 in a research report issued on Friday,Digital Look reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 45.40% from the stock’s current price.

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

Ocado Group Stock Up 5.8%

Ocado Group stock opened at GBX 168.50 on Friday. The company has a debt-to-equity ratio of 131.70, a current ratio of 2.00 and a quick ratio of 2.81. Ocado Group has a 1-year low of GBX 140.30 and a 1-year high of GBX 397.90. The company has a market cap of £1.40 billion, a PE ratio of 3.46 and a beta of 2.39. The stock’s 50 day moving average price is GBX 190.76 and its 200 day moving average price is GBX 208.59.

Ocado Group (LON:OCDO) last issued its earnings results on Thursday, July 16th. The company reported GBX (3.90) earnings per share (EPS) for the quarter. Ocado Group had a net margin of 29.33% and a return on equity of 24.47%.

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.