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

Grocery Outlet Holding Corp. (NASDAQ:GO) has been assigned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $22.11.

Several equities research analysts have weighed in on GO shares. Roth Mkm dropped their price target on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Melius Research assumed coverage on Grocery Outlet in a research note on Monday, September 23rd. They issued a “hold” rating and a $17.00 target price on the stock. UBS Group reduced their price target on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Roth Capital upgraded Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Telsey Advisory Group reduced their target price on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th.

Insiders Place Their Bets

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction 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 $1,340,728.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $18.90, for a total value of $1,890,000.00. Following the sale, the director now owns 70,938 shares in the company, valued at $1,340,728.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s 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 transaction, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 500,095 shares of company stock worth $8,876,548. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

Hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Grocery Outlet during the first quarter valued at $25,000. Innealta Capital LLC purchased a new stake in Grocery Outlet during the 2nd quarter valued at about $38,000. Canada Pension Plan Investment Board bought a new stake in Grocery Outlet during the 2nd quarter valued at about $82,000. Daiwa Securities Group Inc. purchased a new position in Grocery Outlet in the first quarter worth about $127,000. Finally, Bleakley Financial Group LLC bought a new position in shares of Grocery Outlet in the first quarter worth approximately $217,000. 99.87% of the stock is owned by institutional investors.

Grocery Outlet Trading Up 3.5 %

NASDAQ GO opened at $17.67 on Monday. The stock has a 50-day moving average of $18.25 and a 200-day moving average of $21.88. The company has a current ratio of 1.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.31. Grocery Outlet has a 1-year low of $15.72 and a 1-year high of $29.98. The firm has a market cap of $1.76 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 3.12 and a beta of 0.10.

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

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.