Ocado Group (LON:OCDO) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Ocado Group plc (LON:OCDOGet Free Report)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 201.81 and traded as high as GBX 216.40. Ocado Group shares last traded at GBX 210, with a volume of 2,794,636 shares changing hands.

Analyst Ratings Changes

OCDO has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price objective on Ocado Group from GBX 245 to GBX 290 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 310 price objective 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, the company currently has an average rating of “Buy” and an average price target of GBX 300.

View Our Latest Research Report on OCDO

Ocado Group Trading Up 0.2%

The firm has a market cap of £1.81 billion, a PE ratio of -7.16 and a beta of 2.40. The company has a quick ratio of 2.81, a current ratio of 1.41 and a debt-to-equity ratio of 110.64. The company’s 50 day moving average price is GBX 207.72 and its two-hundred day moving average price is GBX 201.92.

Ocado Group (LON:OCDOGet Free Report) last released its quarterly earnings results on Thursday, July 16th. The company reported GBX (3.90) EPS for the quarter. Ocado Group had a negative return on equity of 15.94% and a negative net margin of 14.29%.

Ocado Group Company Profile

(Get Free Report)

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.

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