Ocado Group (LON:OCDO) Price Target Raised to GBX 290 at JPMorgan Chase & Co.

Ocado Group (LON:OCDO) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from GBX 245 to GBX 290 in a note issued to investors on Wednesday,Digital Look reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 27.75% from the company’s previous close.

Separately, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 310 target price on shares of Ocado Group in a research note on Monday, June 1st. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of GBX 300.

Ocado Group Stock Up 2.9%

Shares of Ocado Group stock opened at GBX 227 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 2.81 and a debt-to-equity ratio of 110.64. The business’s 50 day simple moving average is GBX 190.24 and its 200-day simple moving average is GBX 200.68. The stock has a market capitalization of £1.89 billion, a price-to-earnings ratio of -7.49 and a beta of 2.40. Ocado Group has a twelve month low of GBX 140.30 and a twelve month high of GBX 376.

Ocado Group (LON:OCDO) 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%.

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.