Ocado Group (LON:OCDO) Reaches New 12-Month High – Should You Buy?

Ocado Group plc (LON:OCDO) shares reached a new 52-week high during mid-day trading on Wednesday. The stock traded as high as GBX 355 and last traded at GBX 339.43, with a volume of 6,374,526 shares changing hands. The stock had previously closed at GBX 317.20.

Wall Street Analyst Weigh In

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 report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Ocado Group currently has a consensus rating of “Buy” and an average price target of GBX 300.

Ocado Group Stock Performance

The company’s fifty day simple moving average is GBX 250.75 and its 200 day simple moving average is GBX 214.83. The stock has a market capitalization of £2.81 billion, a price-to-earnings ratio of -11.08 and a beta of 2.41. The company has a quick ratio of 2.81, a current ratio of 1.41 and a debt-to-equity ratio of 110.64.

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.