Ocado Group (LON:OCDO) Shares Climb 9.2% – Still a Buy?

Shares of Ocado Group plc (LON:OCDO) shot up 9.2% on Wednesday. The company traded as high as GBX 286.60 and last traded at GBX 286.60. Approximately 4,189,000 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 19,964,836 shares. The stock had previously closed at GBX 262.40.

Wall Street Analysts Forecast Growth

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

Ocado Group Stock Up 9.2%

The company has a debt-to-equity ratio of 110.64, a current ratio of 1.41 and a quick ratio of 2.81. The firm has a market capitalization of £2.40 billion, a P/E ratio of -9.46 and a beta of 2.41. The business has a 50 day moving average price of GBX 229.56 and a 200 day moving average price of GBX 204.68.

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

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.