Ocado Group (LON:OCDO) Sets New 1-Year Low - Should You Sell?

Key Points

• Ocado Group's stock recently plummeted to a new 52-week low, trading at GBX 220.90 ($3.02), down from its prior close of GBX 225.50 ($3.08).
• JPMorgan Chase & Co. has assigned an "overweight" rating to Ocado Group, raising their price target from GBX 400 to GBX 437.
• Ocado Group operates the Ocado Smart Platform, which provides grocery fulfillment solutions and includes a joint venture with Marks & Spencer for their retail operations.

Ocado Group plc (LON:OCDO - Get Free Report) hit a new 52-week low on Wednesday . The company traded as low as GBX 220.90 ($2.98) and last traded at GBX 221.70 ($2.99), with a volume of 2896517 shares changing hands. The stock had previously closed at GBX 225.50 ($3.04).

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. increased their price target on shares of Ocado Group from GBX 400 to GBX 437 and gave the company an "overweight" rating in a report on Friday, August 1st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of GBX 437.

Ocado Group Price Performance

The firm has a market cap of £1.83 billion, a price-to-earnings ratio of 471.91 and a beta of 1.85. The business's 50-day moving average price is GBX 318.02 and its two-hundred day moving average price is GBX 281.99. The company has a debt-to-equity ratio of 144.16, a current ratio of 2.35 and a quick ratio of 2.82.

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.