Grocery Outlet Holding Corp. (NASDAQ:GO) Receives $18.00 Consensus Target Price from Analysts

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

Several brokerages have issued reports on GO. Craig Hallum cut their price target on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Roth Mkm reduced their target price on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group decreased their price target on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. UBS Group cut their price objective on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th.

Grocery Outlet Price Performance

Shares of NASDAQ GO opened at $17.40 on Friday. Grocery Outlet has a fifty-two week low of $13.60 and a fifty-two week high of $29.19. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 4.74 and a beta of 0.25. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The business has a 50-day moving average of $17.82 and a 200-day moving average of $18.82.

Grocery Outlet (NASDAQ:GO) last released its earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share 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 analysts’ expectations of $1.10 billion. During the same period last year, the business earned $0.25 earnings per share. The firm’s revenue was up 10.4% on a year-over-year basis. As a group, sell-side analysts predict that Grocery Outlet will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the sale, the director now owns 70,938 shares in the company, valued at approximately $1,155,580.02. The trade was a 73.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Erik D. Ragatz purchased 110,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $18.25 per share, with a total value of $2,007,500.00. Following the purchase, the director now owns 539,785 shares of the company’s stock, valued at approximately $9,851,076.25. This trade represents a 25.59 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Grocery Outlet

Hedge funds have recently bought and sold shares of the company. Raymond James & Associates grew its stake in Grocery Outlet by 48.0% during the second quarter. Raymond James & Associates now owns 82,730 shares of the company’s stock worth $1,830,000 after purchasing an additional 26,828 shares during the period. Washington Capital Management Inc. acquired a new stake in shares of Grocery Outlet during the 2nd quarter worth approximately $396,000. Louisiana State Employees Retirement System increased its stake in shares of Grocery Outlet by 75.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 50,200 shares of the company’s stock valued at $1,110,000 after acquiring an additional 21,600 shares in the last quarter. Patten Group Inc. acquired a new position in shares of Grocery Outlet during the 2nd quarter valued at $548,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Grocery Outlet by 21.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,995 shares of the company’s stock worth $376,000 after acquiring an additional 3,050 shares in the last quarter. Institutional investors own 99.87% of the company’s stock.

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.