Brokerages Set Grocery Outlet Holding Corp. (NASDAQ:GO) Target Price at $18.00

Grocery Outlet Holding Corp. (NASDAQ:GO) has earned a consensus rating of “Hold” from the twelve analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $18.00.

A number of research firms recently issued reports on GO. Roth Mkm decreased their price objective on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. UBS Group decreased their price target on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and dropped their price objective for the company from $25.00 to $16.00 in a research note on Wednesday, November 6th. Bank of America downgraded Grocery Outlet from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $29.00 to $17.00 in a research report on Wednesday, October 30th. Finally, Loop Capital assumed coverage on Grocery Outlet in a research report on Thursday, October 17th. They set a “hold” rating and a $17.00 price target on the stock.

Grocery Outlet Stock Up 0.8 %

Shares of NASDAQ:GO opened at $16.73 on Friday. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 4.74 and a beta of 0.25. The business’s 50 day moving average is $17.87 and its 200 day moving average is $18.72. Grocery Outlet has a 12-month low of $13.60 and a 12-month high of $29.19. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. On average, sell-side analysts forecast that Grocery Outlet will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Grocery Outlet

In other news, Director Erik D. Ragatz acquired 110,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was purchased at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the acquisition, the director now owns 539,785 shares of the company’s stock, valued at $9,851,076.25. This trade represents a 25.59 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Grocery Outlet

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. grew its position in Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Grocery Outlet during the third quarter valued at approximately $32,000. Innealta Capital LLC bought a new position in shares of Grocery Outlet in the second quarter worth approximately $38,000. True Wealth Design LLC purchased a new position in shares of Grocery Outlet in the third quarter worth $75,000. Finally, Canada Pension Plan Investment Board bought a new stake in Grocery Outlet during the 2nd quarter valued at $82,000. Institutional investors own 99.87% of the company’s stock.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. operates as a retailer of consumables and fresh products sold through independently operated stores in the United States. Its stores offer products in various categories, such as dairy and deli, produce, floral, fresh meat, seafood products, grocery, general merchandise, health and beauty care, frozen food, beer and wine, and ethnic products.