Grocery Outlet (NASDAQ:GO) Reaches New 52-Week Low at $15.99

Grocery Outlet Holding Corp. (NASDAQ:GO) shares hit a new 52-week low during trading on Friday . The stock traded as low as $15.99 and last traded at $16.10, with a volume of 67121 shares traded. The stock had previously closed at $16.29.

Wall Street Analyst Weigh In

GO has been the subject of a number of recent analyst reports. Wells Fargo & Company assumed coverage on Grocery Outlet in a report on Thursday, July 18th. They set an “overweight” rating and a $28.00 price target for the company. Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. UBS Group lowered their target price on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Roth Mkm decreased their price target on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, Telsey Advisory Group dropped their price objective on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Grocery Outlet has an average rating of “Hold” and a consensus target price of $22.75.

Grocery Outlet Stock Down 0.6 %

The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 3.16 and a beta of 0.10. The firm has a 50 day simple moving average of $18.90 and a two-hundred day simple moving average of $22.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.29.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the firm earned $0.23 EPS. Grocery Outlet’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts expect that Grocery Outlet Holding Corp. will post 0.68 EPS for the current year.

Insider Activity at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the completion of the transaction, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,340,728.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders sold 300,000 shares of company stock worth $5,617,000. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Grocery Outlet

A number of large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in shares of Grocery Outlet in the first quarter valued at $25,000. Innealta Capital LLC acquired a new position in shares of Grocery Outlet during the 2nd quarter worth about $38,000. Canada Pension Plan Investment Board bought a new stake in shares of Grocery Outlet in the 2nd quarter valued at about $82,000. Daiwa Securities Group Inc. acquired a new stake in Grocery Outlet in the 1st quarter valued at about $127,000. Finally, Quest Partners LLC bought a new position in Grocery Outlet during the fourth quarter worth about $193,000. 99.87% of the stock is currently owned by institutional investors and hedge funds.

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.