Grocery Outlet Holding Corp. (NASDAQ:GO) Receives $18.00 Consensus Price Target from Analysts

Grocery Outlet Holding Corp. (NASDAQ:GO) has been given an average rating of “Hold” by the twelve ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $18.00.

A number of research firms have weighed in on GO. Craig Hallum decreased their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. TD Cowen cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and dropped their price target for the company from $25.00 to $16.00 in a research report on Wednesday, November 6th. Wells Fargo & Company cut their price target on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Loop Capital initiated coverage on Grocery Outlet in a research note on Thursday, October 17th. They set a “hold” rating and a $17.00 target price on the stock. Finally, The Goldman Sachs Group cut their target price on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a research report on Friday, November 1st.

Grocery Outlet Stock Performance

Shares of GO opened at $17.31 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The firm has a 50-day moving average of $17.04 and a 200-day moving average of $17.50. The company has a market cap of $1.68 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 17.18 and a beta of 0.32. Grocery Outlet has a one year low of $13.60 and a one year high of $29.19.

Grocery Outlet (NASDAQ:GO) last announced its earnings results on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The company 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 business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the firm earned $0.25 earnings per share. As a group, equities analysts forecast that Grocery Outlet will post 0.63 earnings per share for the current year.

Insider Buying and Selling at Grocery Outlet

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

Hedge Funds Weigh In On Grocery Outlet

A number of hedge funds have recently modified their holdings of GO. Raymond James Financial Inc. purchased a new stake in shares of Grocery Outlet during the 4th quarter worth approximately $1,079,000. Aigen Investment Management LP purchased a new position in Grocery Outlet during the fourth quarter worth approximately $334,000. Proficio Capital Partners LLC purchased a new stake in shares of Grocery Outlet during the 4th quarter worth about $161,000. Charles Schwab Investment Management Inc. increased its holdings in Grocery Outlet by 11.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,631 shares of the company’s stock valued at $20,428,000 after purchasing an additional 138,161 shares in the last quarter. Finally, Ieq Capital LLC raised its stake in shares of Grocery Outlet by 218.0% during the fourth quarter. Ieq Capital LLC now owns 116,885 shares of the company’s stock valued at $1,825,000 after purchasing an additional 80,125 shares during the period. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

About Grocery Outlet

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.