Ocado Group plc (OTCMKTS:OCDGF) Receives Average Recommendation of “Reduce” from Analysts

Ocado Group plc (OTCMKTS:OCDGF – Get Rating) has received an average rating of “Reduce” from the seven research firms that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $665.00.

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Ocado Group from GBX 500 ($6.01) to GBX 550 ($6.61) in a research report on Monday, December 5th. Royal Bank of Canada downgraded Ocado Group from a “sector perform” rating to an “underperform” rating in a report on Thursday, January 26th.

Ocado Group Price Performance

Shares of OCDGF stock opened at $5.60 on Friday. Ocado Group has a 52-week low of $4.43 and a 52-week high of $16.23. The stock has a 50 day moving average price of $7.92 and a 200 day moving average price of $7.49.

About Ocado Group

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Ocado Group Plc engages in the operation of online grocery supermarket. It operates through the following segments: Retail, UK Solutions & Logistics, and International Solutions. The Retail segment provides online grocery and general merchandise offerings to customers within the UK. The UK Solutions & Logistics segment reflects contracts with the Ocado Retail joint venture and Morrisons, inclusive of both solutions contracts and service agreements with Ocado Logistics for the provision of third party logistics and other services.