Ocado Group (LON:OCDO) Shares Up 4.3% – Time to Buy?

Ocado Group plc (LON:OCDO)’s share price rose 4.3% during trading on Monday. The stock traded as high as GBX 317.60 and last traded at GBX 302.52. Approximately 9,235,005 shares changed hands during trading, a decline of 52% from the average session volume of 19,324,795 shares. The stock had previously closed at GBX 289.94.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their price objective on shares of 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, the company has an average rating of “Buy” and an average target price of GBX 300.

Ocado Group Trading Up 4.3%

The company’s 50-day moving average is GBX 243.13 and its 200-day moving average is GBX 210.74. 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 firm has a market cap of £2.53 billion, a price-to-earnings ratio of -9.98 and a beta of 2.41.

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