Ocado Group (LON:OCDO) Shares Up 9.2% – Here’s What Happened

Shares of Ocado Group plc (LON:OCDO – Get Free Report) were up 9.2% on Wednesday. The stock 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 daily volume of 19,964,836 shares. The stock had previously closed at GBX 262.40.

Analysts Set New Price Targets

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

Get Ocado Group alerts:

Get Our Latest Stock Analysis on OCDO

Ocado Group Trading Up 9.2%

The company’s 50 day moving average price is GBX 229.56 and its 200 day moving average price is GBX 204.68. The company has a market cap of £2.40 billion, a price-to-earnings ratio of -9.46 and a beta of 2.41. The company has a debt-to-equity ratio of 110.64, a quick ratio of 2.81 and a current ratio of 1.41.

Ocado Group (LON:OCDO – Get Free Report) last released its quarterly earnings data 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 Company Profile

(Get Free Report)

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.

Featured Stories

• Five stocks we like better than Ocado Group
• Penguin Solutions Is Soaring as AI Memory Demand Explodes
• Alphabet’s Chart Is Coiling—and the Fundamentals May Be Ready to Back It Up
• Morgan Stanley Is Bullish on Apple—But With a Catch
• Disney Is Opening the Door to Netflix—and Changing the Streaming Playbook

Receive News & Ratings for Ocado Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ocado Group and related companies with MarketBeat.com's FREE daily email newsletter.