Ocado Group (LON:OCDO) Cut to “Underperform” at Berenberg Bank

Ocado Group (LON:OCDO) was downgraded by equities research analysts at Berenberg Bank to an “underperform” rating in a research note issued on Monday, Digital Look reports. They presently have a GBX 260 ($3.33) price target on the stock, down from their prior price target of GBX 1,000 ($12.81). Berenberg Bank’s target price indicates a potential downside of 23.62% from the company’s current price.

Separately, JPMorgan Chase & Co. lowered their price target on shares of Ocado Group from GBX 450 ($5.76) to GBX 380 ($4.87) and set a “neutral” rating on the stock in a report on Friday, June 28th.

Ocado Group Stock Performance

Shares of OCDO stock traded down GBX 39.58 ($0.51) during trading hours on Monday, reaching GBX 340.42 ($4.36). 20,999,818 shares of the company traded hands, compared to its average volume of 4,786,606. The firm has a 50-day moving average price of GBX 346.01 and a 200 day moving average price of GBX 448.36. The company has a market cap of £2.79 billion, a P/E ratio of -884.99 and a beta of 1.73. The company has a debt-to-equity ratio of 129.71, a current ratio of 2.49 and a quick ratio of 2.82. Ocado Group has a 12-month low of GBX 278.17 ($3.56) and a 12-month high of GBX 1,017 ($13.03).

Insider Activity at Ocado Group

In other Ocado Group news, insider Richard N. (Rick) Haythornthwaite purchased 27,320 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was acquired at an average cost of GBX 366 ($4.69) per share, for a total transaction of £99,991.20 ($128,078.90). In the last 90 days, insiders have acquired 27,403 shares of company stock valued at $10,029,284. 29.51% of the stock is owned by company insiders.

About Ocado Group

Ocado Group plc, together with its subsidiaries, operates as an online grocery retailer in the United Kingdom and internationally. The company operates in three segments: Technology Solutions, Ocado Logistics, and Ocado Retail. It offers online grocery and general merchandise; and customer fulfillment centers and logistics services.