Ocado Group PLC (OCDO) Rating Lowered to Sell at Barclays PLC
Ocado Group PLC (LON:OCDO) was downgraded by analysts at Barclays PLC to a “sell” rating in a research note issued on Wednesday. They presently have a GBX 220 ($2.87) price target on the stock. Barclays PLC’s target price points to a potential downside of 14.40% from the company’s previous close.
A number of other research firms have also weighed in on OCDO. BNP Paribas cut their target price on shares of Ocado Group PLC from GBX 250 ($3.26) to GBX 215 ($2.81) and set a “neutral” rating for the company in a research report on Monday, June 27th. HSBC cut their target price on shares of Ocado Group PLC from GBX 200 ($2.61) to GBX 190 ($2.48) and set a “reduce” rating for the company in a research report on Thursday, June 30th. Morgan Stanley reissued an “overweight” rating and set a GBX 420 ($5.48) target price on shares of Ocado Group PLC in a research report on Monday, July 4th. Societe Generale cut their target price on shares of Ocado Group PLC from GBX 193 ($2.52) to GBX 189 ($2.47) and set a “sell” rating for the company in a research report on Wednesday, September 14th. Finally, Goldman Sachs Group Inc. reissued a “conviction-buy” rating and set a GBX 650 ($8.48) target price on shares of Ocado Group PLC in a research report on Monday, June 27th. Five investment analysts have rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of GBX 324.17 ($4.23).
Ocado Group PLC (LON:OCDO) opened at 259.00 on Wednesday. The firm has a 50-day moving average price of GBX 289.67 and a 200-day moving average price of GBX 279.05. Ocado Group PLC has a 52 week low of GBX 203.00 and a 52 week high of GBX 412.70. The firm’s market capitalization is GBX 1.53 billion.
In other news, insider Tatton-Brown,Duncan acquired 100,000 shares of the firm’s stock in a transaction on Friday, July 1st. The shares were purchased at an average cost of GBX 227 ($2.96) per share, with a total value of £227,000 ($296,305.97).
About Ocado Group PLC
Ocado Group plc is a United Kingdom-based company engaged in grocery retailing and the development and monetization of intellectual property (IP) and technology used for the online retailing, logistics and distribution of grocery and consumer goods. The Company sells groceries and other every day and specialist products to consumers placing orders through its interfaces.
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