Royal Bank of Canada Reiterates Sector Perform Rating for Ocado Group (LON:OCDO)

Ocado Group (LON:OCDO)‘s stock had its “sector perform” rating reiterated by investment analysts at Royal Bank of Canada in a note issued to investors on Tuesday, Digital Look reports. They currently have a GBX 1,000 ($13.07) target price on the stock. Royal Bank of Canada’s price target would indicate a potential downside of 12.55% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. HSBC set a €136.00 ($158.14) price objective on shares of Deutsche Boerse and gave the company a “buy” rating in a research note on Thursday, April 11th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 3,000 ($39.20) price target on shares of in a research note on Monday, June 3rd. Citigroup increased their price target on shares of from GBX 1,300 ($16.99) to GBX 1,450 ($18.95) and gave the stock a “buy” rating in a research note on Friday, June 21st. Peel Hunt raised shares of MJ Gleeson to a “hold” rating and increased their price target for the stock from GBX 715 ($9.34) to GBX 745 ($9.73) in a research note on Thursday, July 4th. Finally, Bank of America decreased their price target on shares of 3D Systems from $10.00 to $9.00 and set an “underperform” rating for the company in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Ocado Group presently has a consensus rating of “Hold” and a consensus target price of GBX 1,150 ($15.03).

Shares of LON:OCDO traded up GBX 3.50 ($0.05) during midday trading on Tuesday, hitting GBX 1,143.50 ($14.94). 2,231,942 shares of the stock traded hands, compared to its average volume of 2,950,000. The stock has a market cap of $8.08 billion and a PE ratio of -165.72. The stock’s 50 day simple moving average is GBX 1,168.99. The company has a debt-to-equity ratio of 64.79, a current ratio of 1.75 and a quick ratio of 1.53. Ocado Group has a one year low of GBX 730.60 ($9.55) and a one year high of GBX 1,440.50 ($18.82).

In related news, insider Stuart Rose sold 150,000 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of GBX 1,199 ($15.67), for a total value of £1,798,500 ($2,350,058.80).

About Ocado Group

Ocado Group plc operates as an online grocery retailer in the United Kingdom and internationally. The company operates through two segments, Retail and Solutions. It sells general merchandise products on its hypermarket through three specialty destination sites, including Fetch, a pet store; Sizzle, a kitchen and dining store; and Fabled, a premium beauty store.

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Analyst Recommendations for Ocado Group (LON:OCDO)

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