Grocery Outlet’s (GO) Market Perform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Grocery Outlet (NASDAQ:GO) in a research note released on Thursday,Benzinga reports. The brokerage currently has a $18.00 target price on the stock.

GO has been the topic of several other reports. Wells Fargo & Company lowered their target price on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Loop Capital assumed coverage on Grocery Outlet in a research report on Thursday, October 17th. They set a “hold” rating and a $17.00 price target for the company. Melius Research initiated 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 for the company. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $18.00.

Grocery Outlet Stock Performance

NASDAQ GO traded up $0.41 on Thursday, hitting $17.01. 235,726 shares of the company’s stock were exchanged, compared to its average volume of 1,826,158. 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 firm’s 50-day moving average price is $17.86 and its two-hundred day moving average price is $18.76. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 33.35, a P/E/G ratio of 4.74 and a beta of 0.25. Grocery Outlet has a fifty-two week low of $13.60 and a fifty-two week high of $29.19.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. Grocery Outlet’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 earnings per share. On average, research analysts expect 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 acquired 110,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $18.25 per share, with a total value of $2,007,500.00. Following the completion of the transaction, the director now directly owns 539,785 shares of the company’s stock, valued at approximately $9,851,076.25. The trade was a 25.59 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Grocery Outlet

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. boosted its stake in shares of Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after buying an additional 722 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Grocery Outlet during the 3rd quarter worth $32,000. Innealta Capital LLC bought a new stake in shares of Grocery Outlet in the 2nd quarter worth about $38,000. True Wealth Design LLC acquired a new stake in shares of Grocery Outlet in the 3rd quarter valued at about $75,000. Finally, Canada Pension Plan Investment Board bought a new stake in Grocery Outlet in the second quarter valued at about $82,000. 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.