Ocado (LON:OCDO) Cut to “Neutral” at Goldman Sachs

Goldman Sachs lowered shares of Ocado (LON:OCDO) to a neutral rating in a research report released on Wednesday, March 21st. They currently have GBX 540 ($7.63) target price on the stock.

Several other analysts also recently issued reports on OCDO. Berenberg Bank restated a hold rating and set a GBX 286 ($4.04) price objective on shares of Ocado in a report on Friday, November 24th. Credit Suisse Group restated an outperform rating and set a GBX 480 ($6.78) price objective on shares of Ocado in a report on Monday, November 27th. Citigroup reaffirmed a buy rating and set a GBX 400 ($5.65) target price on shares of Ocado in a research note on Tuesday, November 28th. Jefferies Group reaffirmed a hold rating and set a GBX 250 ($3.53) target price on shares of Ocado in a research note on Wednesday, November 29th. Finally, Deutsche Bank reaffirmed a sell rating and set a GBX 200 ($2.83) target price on shares of Ocado in a research note on Wednesday, November 29th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of GBX 418.43 ($5.91).

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LON OCDO traded down GBX 9.60 ($0.14) on Wednesday, hitting GBX 514.40 ($7.27). 3,435,875 shares of the company were exchanged, compared to its average volume of 2,950,000. Ocado has a twelve month low of GBX 233.10 ($3.29) and a twelve month high of GBX 603.20 ($8.53).

In related news, insider Tim Steiner sold 4,500,000 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of GBX 540 ($7.63), for a total value of £24,300,000 ($34,346,289.75). Also, insider Neill Abrams purchased 3,293 shares of the stock in a transaction that occurred on Thursday, March 22nd. The stock was purchased at an average cost of GBX 566 ($8.00) per share, with a total value of £18,638.38 ($26,344.00). In the last three months, insiders purchased 3,386 shares of company stock valued at $1,909,017.

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Ocado Company Profile

Ocado Group plc operates as an online grocery retailer in the United Kingdom. It sells general merchandise products on its Ocado.com hypermarket through three specialty destination sites, including Fetch, a specialty pet store; Sizzle, a kitchen and dining store; and Fabled, a premium beauty store. The company also engages in the development and monetization of intellectual property and technology used for the online retailing, logistics, and distribution of grocery and consumer goods.

Analyst Recommendations for Ocado (LON:OCDO)

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