Berenberg Bank Initiates Coverage on Ocado Group PLC (OCDO)
Equities research analysts at Berenberg Bank started coverage on shares of Ocado Group PLC (LON:OCDO) in a report issued on Tuesday. The firm set a “hold” rating and a GBX 286 ($3.79) price target on the stock. Berenberg Bank’s price objective indicates a potential downside of 3.83% from the company’s current price.
A number of other brokerages have also recently commented on OCDO. Numis Securities Ltd reiterated a “buy” rating and set a GBX 400 ($5.31) price target on shares of Ocado Group PLC in a research report on Monday, June 5th. Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating and set a GBX 440 ($5.84) price target on shares of Ocado Group PLC in a research report on Monday, June 5th. Shore Capital reiterated an “under review” rating on shares of Ocado Group PLC in a research report on Tuesday, June 6th. Deutsche Bank AG reiterated a “sell” rating and set a GBX 220 ($2.92) price target on shares of Ocado Group PLC in a research report on Friday, September 1st. Finally, Jefferies Group LLC reiterated a “hold” rating and set a GBX 250 ($3.32) price target on shares of Ocado Group PLC in a research report on Wednesday, June 7th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of GBX 313.92 ($4.16).
Shares of Ocado Group PLC (LON OCDO) opened at 295.60 on Tuesday. The firm’s market capitalization is GBX 1.77 billion. The company’s 50-day moving average is GBX 295.26 and its 200 day moving average is GBX 282.77. Ocado Group PLC has a 52-week low of GBX 233.00 and a 52-week high of GBX 340.00.
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In other Ocado Group PLC news, insider Duncan Tatton-Brown purchased 7,033 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was bought at an average price of GBX 283 ($3.75) per share, with a total value of £19,903.39 ($26,400.57). Also, insider Emma Lloyd purchased 17,300 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was acquired at an average cost of GBX 285 ($3.78) per share, with a total value of £49,305 ($65,399.92). Insiders bought 24,488 shares of company stock worth $6,965,802 in the last 90 days.
About Ocado Group PLC
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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