Grocery Outlet (NASDAQ:GO) Given “Market Perform” Rating at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Grocery Outlet (NASDAQ:GO) in a research report report published on Wednesday morning,Benzinga reports. Telsey Advisory Group currently has a $18.00 target price on the stock.

Several other research firms also recently commented on GO. Loop Capital began coverage on Grocery Outlet in a research report on Thursday, October 17th. They issued a “hold” rating and a $17.00 target price for the company. The Goldman Sachs Group dropped their price objective on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a report on Friday, November 1st. TD Cowen lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and reduced their target price for the stock from $25.00 to $16.00 in a 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. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Grocery Outlet from $29.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Grocery Outlet currently has an average rating of “Hold” and a consensus target price of $18.00.

Grocery Outlet Stock Performance

NASDAQ:GO opened at $15.21 on Wednesday. Grocery Outlet has a twelve month low of $13.60 and a twelve 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. The stock’s 50-day simple moving average is $17.66 and its 200 day simple moving average is $17.85. The firm has a market capitalization of $1.48 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 16.92 and a beta of 0.31.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the business posted $0.25 earnings per share. The company’s quarterly revenue was up 10.4% on a year-over-year basis. On average, analysts anticipate that Grocery Outlet will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling

In other Grocery Outlet news, Director Erik D. Ragatz acquired 110,000 shares of Grocery Outlet 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 completion of the acquisition, the director now directly owns 539,785 shares of the company’s stock, valued at $9,851,076.25. This represents a 25.59 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Grocery Outlet

A number of hedge funds have recently added to or reduced their stakes in GO. Franklin Resources Inc. lifted its holdings in shares of Grocery Outlet by 1.8% in the third quarter. Franklin Resources Inc. now owns 29,987 shares of the company’s stock valued at $526,000 after purchasing an additional 529 shares in the last quarter. Blue Trust Inc. lifted its stake in Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Grocery Outlet by 2.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 46,875 shares of the company’s stock worth $732,000 after acquiring an additional 1,240 shares during the last quarter. KBC Group NV grew its stake in shares of Grocery Outlet by 62.7% in the 4th quarter. KBC Group NV now owns 4,506 shares of the company’s stock worth $70,000 after acquiring an additional 1,736 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Grocery Outlet in the third quarter valued at about $32,000. Institutional investors and hedge funds 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.