Peel Hunt Reaffirms “Buy” Rating for Ocado (LON:OCDO)

Peel Hunt reiterated their buy rating on shares of Ocado (LON:OCDO) in a research report report published on Monday, March 26th. They currently have a GBX 570 ($8.16) target price on the stock.

Several other research firms have also recently weighed in on OCDO. Morgan Stanley restated an overweight rating and set a GBX 380 ($5.44) price target on shares of Ocado in a report on Wednesday, November 29th. Deutsche Bank restated a sell rating on shares of Ocado in a report on Tuesday, December 19th. Numis Securities cut Ocado to an add rating and set a GBX 650 ($9.31) price target on the stock. in a report on Tuesday, March 20th. Credit Suisse Group restated an outperform rating and set a GBX 480 ($6.87) price target on shares of Ocado in a report on Monday, November 27th. Finally, JPMorgan Chase restated an overweight rating on shares of Ocado in a report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of GBX 418.43 ($5.99).

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Shares of LON:OCDO traded up GBX 12.80 ($0.18) during midday trading on Monday, hitting GBX 522.80 ($7.49). 2,384,320 shares of the stock were exchanged, compared to its average volume of 2,950,000. Ocado has a 12 month low of GBX 233.10 ($3.34) and a 12 month high of GBX 603.20 ($8.64).

In other Ocado news, insider Neill Abrams purchased 3,293 shares of the company’s stock in a transaction on Thursday, March 22nd. The shares were purchased at an average cost of GBX 566 ($8.10) per share, with a total value of £18,638.38 ($26,687.26). Also, insider Tim Steiner sold 4,500,000 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of GBX 540 ($7.73), for a total value of £24,300,000 ($34,793,814.43). Over the last ninety days, insiders purchased 3,351 shares of company stock worth $1,894,002.

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About Ocado

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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