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

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have earned an average recommendation of “Hold” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $18.00.

Several brokerages recently commented on GO. Bank of America cut shares of Grocery Outlet from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $29.00 to $17.00 in a research note on Wednesday, October 30th. TD Cowen cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and decreased their price target for the stock from $25.00 to $16.00 in a report on Wednesday, November 6th. Wells Fargo & Company dropped their price objective on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Loop Capital assumed coverage on Grocery Outlet in a research note on Thursday, October 17th. They issued a “hold” rating and a $17.00 target price on the stock. Finally, UBS Group dropped their price target on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th.

Grocery Outlet Price Performance

Grocery Outlet stock opened at $16.50 on Wednesday. The business’s 50 day simple moving average is $17.76 and its 200 day simple moving average is $18.19. Grocery Outlet has a 12 month low of $13.60 and a 12 month high of $29.19. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 4.81 and a beta of 0.31. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34.

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

Insider Activity at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz bought 110,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the acquisition, the director now owns 539,785 shares in the company, valued at approximately $9,851,076.25. This represents a 25.59 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its holdings in shares of Grocery Outlet by 1,224.1% during the third quarter. Barclays PLC now owns 300,393 shares of the company’s stock valued at $5,271,000 after buying an additional 277,706 shares during the last quarter. Jane Street Group LLC lifted its position in Grocery Outlet by 357.7% in the 3rd quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock valued at $9,118,000 after acquiring an additional 406,039 shares in the last quarter. Cerity Partners LLC boosted its stake in Grocery Outlet by 887.1% during the 3rd quarter. Cerity Partners LLC now owns 105,675 shares of the company’s stock valued at $1,855,000 after purchasing an additional 94,969 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Grocery Outlet in the 3rd quarter worth $511,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Grocery Outlet in the third quarter worth $2,507,000. Hedge funds and other 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.