Citigroup Inc. Initiates Coverage on Ocado Group PLC (OCDO)
Equities research analysts at Citigroup Inc. assumed coverage on shares of Ocado Group PLC (LON:OCDO) in a research note issued on Wednesday. The firm set a “buy” rating and a GBX 400 ($5.17) price target on the stock. Citigroup Inc.’s price objective suggests a potential upside of 37.17% from the stock’s current price.
A number of other equities analysts have also recently commented on the stock. Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating and set a GBX 440 ($5.69) price objective on shares of Ocado Group PLC in a research report on Thursday, August 24th. Shore Capital reaffirmed an “under review” rating on shares of Ocado Group PLC in a research report on Tuesday, August 22nd. HSBC Holdings plc reaffirmed a “reduce” rating and set a GBX 180 ($2.33) price objective on shares of Ocado Group PLC in a research report on Friday, July 21st. Credit Suisse Group reaffirmed an “outperform” rating on shares of Ocado Group PLC in a research report on Friday, July 21st. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a GBX 265 ($3.43) price objective on shares of Ocado Group PLC in a research report on Monday, July 10th. Five analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of GBX 302.83 ($3.92).
Ocado Group PLC (LON OCDO) traded up 3.94% during midday trading on Wednesday, reaching GBX 303.10. 1,764,339 shares of the company traded hands. The stock’s market capitalization is GBX 1.82 billion. The firm has a 50 day moving average of GBX 292.58 and a 200-day moving average of GBX 274.12. Ocado Group PLC has a 12 month low of GBX 233.00 and a 12 month high of GBX 340.00.
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In other news, insider Emma Lloyd bought 17,300 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was bought at an average price of GBX 285 ($3.69) per share, with a total value of £49,305 ($63,767.46). Insiders have bought 17,459 shares of company stock valued at $4,975,629 in the last three months.
Ocado Group PLC Company Profile
Ocado Group plc is a United Kingdom-based online grocery retailer. The Company’s principal activities are grocery retailing and the development and monetization of Intellectual Property (IP) and technology used for the online retailing, logistics and distribution of grocery and consumer goods, derived from the United Kingdom.
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