Ocado Group (LON:OCDO) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Ocado Group plc (LON:OCDO) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 200.68 and traded as high as GBX 220.60. Ocado Group shares last traded at GBX 214.97, with a volume of 4,652,356 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 310 target price on shares of Ocado Group in a research report on Monday, June 1st. JPMorgan Chase & Co. lifted their price target on shares of Ocado Group from GBX 245 to GBX 290 and gave the company an “overweight” rating in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of GBX 300.

Ocado Group Stock Up 2.1%

The company has a debt-to-equity ratio of 110.64, a quick ratio of 2.81 and a current ratio of 1.41. The company has a market cap of £2.17 billion, a price-to-earnings ratio of -8.59 and a beta of 2.40. The stock’s fifty day moving average is GBX 190.98 and its two-hundred day moving average is GBX 200.54.

Ocado Group (LON:OCDO) last announced its quarterly earnings results on Thursday, July 16th. The company reported GBX (3.90) earnings per share 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.