Grocery Outlet Holding Corp. (NASDAQ:GO) Receives $18.00 Consensus PT from Brokerages

Grocery Outlet Holding Corp. (NASDAQ:GO) has been assigned an average recommendation of “Hold” from the twelve brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $18.00.

Several research firms have recently commented on GO. TD Cowen downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and decreased their target price for the stock from $25.00 to $16.00 in a research report on Wednesday, November 6th. Craig Hallum decreased their price objective on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Bank of America downgraded Grocery Outlet from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $29.00 to $17.00 in a research note on Wednesday, October 30th. Wells Fargo & Company cut their target price on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Finally, Roth Mkm lowered their price target on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th.

Grocery Outlet Stock Down 8.9 %

Shares of NASDAQ:GO opened at $17.40 on Friday. The firm has a market cap of $1.69 billion, a P/E ratio of 34.12, a PEG ratio of 4.74 and a beta of 0.25. Grocery Outlet has a 52-week low of $13.60 and a 52-week high of $29.19. The business’s 50 day simple moving average is $17.82 and its two-hundred day simple moving average is $18.82. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46.

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

Insider Transactions at Grocery Outlet

In other news, Director Erik D. Ragatz acquired 110,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average price of $18.25 per share, with a total value of $2,007,500.00. Following the acquisition, the director now 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 document filed with the SEC, which is accessible through the SEC website. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the sale, the director now owns 70,938 shares in the company, valued at $1,155,580.02. This represents a 73.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GO. Blue Trust Inc. boosted its stake in Grocery Outlet by 76.6% in the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares during the period. Capital Performance Advisors LLP purchased a new position in Grocery Outlet during the third quarter valued at approximately $32,000. Innealta Capital LLC bought a new stake in Grocery Outlet during the 2nd quarter worth approximately $38,000. True Wealth Design LLC purchased a new stake in Grocery Outlet in the 3rd quarter worth approximately $75,000. Finally, Canada Pension Plan Investment Board bought a new position in Grocery Outlet in the 2nd quarter valued at $82,000. 99.87% of the stock is owned by 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.