Ocado Group (OCDO) Earns “Hold” Rating from HSBC

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HSBC reaffirmed their hold rating on shares of Ocado Group (LON:OCDO) in a research report report published on Wednesday morning.

A number of other equities analysts have also commented on the stock. Peel Hunt restated a buy rating and issued a GBX 570 ($7.59) price objective on shares of Ocado Group in a research report on Monday, February 26th. Morgan Stanley lowered shares of Ocado Group to an equal weight rating and raised their price objective for the company from GBX 545 ($7.26) to GBX 870 ($11.58) in a research report on Tuesday, May 29th. Numis Securities lowered shares of Ocado Group to an add rating and set a GBX 650 ($8.65) price objective for the company. in a research report on Tuesday, March 20th. Deutsche Bank restated a sell rating on shares of Ocado Group in a research report on Friday, March 16th. Finally, Citigroup restated a buy rating on shares of Ocado Group in a research report on Wednesday, May 30th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of GBX 514.87 ($6.85).

Ocado Group opened at GBX 1,063.50 ($14.16) on Wednesday, MarketBeat Ratings reports. Ocado Group has a 12 month low of GBX 233.10 ($3.10) and a 12 month high of GBX 603.20 ($8.03).

In related news, insider Neill Abrams sold 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 31st. The shares were sold at an average price of GBX 896 ($11.93), for a total value of £4,480,000 ($5,964,585.27).

About Ocado Group

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 Group (LON:OCDO)

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