Ocado Group (OCDO) Upgraded to Hold at HSBC

Ocado Group (LON:OCDO) was upgraded by analysts at HSBC to a “hold” rating in a research report issued on Friday.

Other equities analysts have also recently issued research reports about the stock. Peel Hunt reissued a “buy” rating and issued a GBX 570 ($7.73) target price on shares of Ocado Group in a report on Tuesday, March 20th. Numis Securities cut shares of Ocado Group to an “add” rating and set a GBX 650 ($8.82) target price on the stock. in a report on Tuesday, March 20th. Deutsche Bank reissued a “sell” rating and issued a GBX 200 ($2.71) target price on shares of Ocado Group in a report on Wednesday, February 7th. Goldman Sachs cut their target price on shares of Ocado Group from GBX 560 ($7.60) to GBX 540 ($7.33) and set a “conviction-buy” rating on the stock in a report on Tuesday, February 13th. Finally, Citigroup reissued a “buy” rating and issued a GBX 400 ($5.43) target price on shares of Ocado Group in a report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Ocado Group presently has a consensus rating of “Hold” and an average target price of GBX 432 ($5.86).

Shares of LON OCDO opened at GBX 799 ($10.84) on Friday. Ocado Group has a 52-week low of GBX 233.10 ($3.16) and a 52-week high of GBX 603.20 ($8.18).

In other news, insider Tim Steiner sold 4,500,000 shares of Ocado Group stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of GBX 540 ($7.33), for a total transaction of £24,300,000 ($32,962,561.04). Also, insider Neill Abrams purchased 3,293 shares of the business’s stock in a transaction dated Thursday, March 22nd. The shares were acquired at an average cost of GBX 566 ($7.68) per share, for a total transaction of £18,638.38 ($25,282.66). In the last ninety days, insiders have bought 3,346 shares of company stock worth $1,893,905.

About Ocado Group

Ocado Group plc operates as an online grocery retailer in the United Kingdom. It sells general merchandise products on its Ocado.com hypermarket through three specialty destination sites, including Fetch, a specialty pet store; Sizzle, a kitchen and dining store; and Fabled, a premium beauty store. The company also engages in the development and monetization of intellectual property and technology used for the online retailing, logistics, and distribution of grocery and consumer goods.

Analyst Recommendations for Ocado Group (LON:OCDO)

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