Grocery Outlet Holding Corp. (NASDAQ:GO) Given Average Recommendation of “Hold” by Brokerages

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have received a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned 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 $21.60.

Several equities research analysts have weighed in on the stock. Loop Capital assumed coverage on shares of Grocery Outlet in a research report on Thursday, October 17th. They issued a “hold” rating and a $17.00 price objective for the company. Roth Capital upgraded shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Craig Hallum lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and reduced their target price for the company from $32.00 to $20.00 in a research note on Wednesday, July 31st. Telsey Advisory Group reduced their target price on shares of Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Melius Research assumed coverage on shares of Grocery Outlet in a research note on Monday, September 23rd. They issued a “hold” rating and a $17.00 target price on the stock.

Insider Buying and Selling

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the completion of the transaction, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the completion of the sale, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,340,728.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the sale, the director now directly owns 70,938 shares of the company’s stock, valued at $1,155,580.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 500,095 shares of company stock valued at $8,876,548 over the last quarter. 4.50% of the stock is owned by company insiders.

Institutional Trading of Grocery Outlet

Several large investors have recently modified their holdings of GO. State of Michigan Retirement System raised its position in Grocery Outlet by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 24,380 shares of the company’s stock valued at $702,000 after buying an additional 600 shares during the last quarter. Blue Trust Inc. grew its stake in shares of 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 acquiring an additional 722 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Grocery Outlet in the 1st quarter worth $25,000. Oak Ridge Investments LLC raised its holdings in shares of Grocery Outlet by 1.2% in the first quarter. Oak Ridge Investments LLC now owns 73,820 shares of the company’s stock valued at $2,125,000 after purchasing an additional 876 shares during the last quarter. Finally, Texas Permanent School Fund Corp lifted its position in shares of Grocery Outlet by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 86,879 shares of the company’s stock valued at $2,500,000 after purchasing an additional 1,126 shares in the last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

Grocery Outlet Trading Down 1.7 %

Shares of GO stock opened at $16.44 on Friday. Grocery Outlet has a 52-week low of $15.18 and a 52-week high of $29.98. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 25.69, a P/E/G ratio of 3.10 and a beta of 0.10. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.29 and a current ratio of 1.29. The firm has a fifty day moving average of $17.19 and a 200-day moving average of $20.52.

Grocery Outlet (NASDAQ:GO) last announced its earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the company posted $0.23 EPS. On average, equities research analysts forecast that Grocery Outlet will post 0.68 earnings per share for the current fiscal year.

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.