Ocado Group (LON:OCDO) Trading 3.8% Higher - Time to Buy?

Key Points

• Ocado Group shares rose 3.8% on Friday, trading as high as GBX 170.90 after closing at GBX 159.20 the previous day.
• JPMorgan maintained an overweight rating on Ocado despite cutting its price target, while other analysts still have a Buy consensus and an average target of GBX 277.50.
• Recent updates point to mixed fundamentals: Ocado reported negative EPS in its latest quarter, but insider buying by CEO Tim Steiner may signal management confidence.

Ocado Group plc (LON:OCDO - Get Free Report)'s stock price shot up 3.8% during trading on Friday . The stock traded as high as GBX 170.90 and last traded at GBX 165.20. Approximately 11,706,138 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 21,883,256 shares. The stock had previously closed at GBX 159.20.

Ocado Group News Summary

Here are the key news stories impacting Ocado Group this week:

• Positive Sentiment: JPMorgan kept an overweight rating on Ocado Group plc LON: OCDO, indicating the broker still sees long-term value despite lowering its price target. JPMorgan cuts Ocado price target
• Positive Sentiment: Insider buying may support confidence, with chief executive Tim Steiner purchasing shares again, following earlier open-market buys by company insiders. Ocado insider buying alert
• Neutral Sentiment: Ocado released interim/quarterly results and confirmed an investor presentation date, keeping attention on management’s outlook and execution. Ocado interim results article
• Negative Sentiment: The company reported negative EPS for the quarter, reinforcing concerns that Ocado is still struggling to deliver consistent earnings. Ocado earnings report
• Negative Sentiment: Media reports that Ocado shares fell to a 13-year low on limited progress in winning new U.S. partners highlight ongoing growth concerns. Ocado 13-year low report

Analyst Ratings Changes

Several equities research analysts have recently weighed in on OCDO shares. JPMorgan Chase & Co. decreased their target price on shares of Ocado Group from GBX 290 to GBX 245 and set an "overweight" rating for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set 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, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of GBX 277.50.

Ocado Group Stock Up 3.8%

The stock has a market capitalization of £1.38 billion, a PE ratio of 3.39 and a beta of 2.39. The firm has a 50 day moving average of GBX 190.76 and a two-hundred day moving average of GBX 208.59. The company has a current ratio of 2.00, a quick ratio of 2.81 and a debt-to-equity ratio of 131.70.

Ocado Group (LON:OCDO - Get Free Report) last released its quarterly earnings results on Thursday, July 16th. The company reported GBX (3.90) earnings per share for the quarter. Ocado Group had a return on equity of 24.47% and a net margin of 29.33%.

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.

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