Telsey Advisory Group Reaffirms “Market Perform” Rating for Grocery Outlet (NASDAQ:GO)

Telsey Advisory Group reissued their market perform rating on shares of Grocery Outlet (NASDAQ:GO) in a report released on Wednesday,Benzinga reports. The firm currently has a $18.00 price objective on the stock.

Several other equities research analysts also recently issued reports on the company. UBS Group dropped their target price on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Craig Hallum dropped their price objective on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group reduced their target price on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a report on Friday, November 1st. Roth Mkm lowered their price target on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Finally, TD Cowen cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and reduced their price objective for the company from $25.00 to $16.00 in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Grocery Outlet presently has an average rating of “Hold” and an average price target of $18.00.

Grocery Outlet Stock Performance

Shares of GO opened at $15.21 on Wednesday. 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 has a market cap of $1.48 billion, a PE ratio of 29.82, a PEG ratio of 16.92 and a beta of 0.31. Grocery Outlet has a 1 year low of $13.60 and a 1 year high of $29.19. The stock’s fifty day moving average price is $17.66 and its two-hundred day moving average price is $17.85.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the business earned $0.25 earnings per share. On average, equities research analysts forecast that Grocery Outlet will post 0.63 EPS for the current year.

Insider Transactions at Grocery Outlet

In other news, Director Erik D. Ragatz purchased 110,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the acquisition, the director now directly owns 539,785 shares of the company’s stock, valued at $9,851,076.25. This represents a 25.59 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

Institutional investors have recently modified their holdings of the company. Blue Trust Inc. lifted its position 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 purchasing an additional 722 shares during the period. Decker Retirement Planning Inc. purchased a new stake in Grocery Outlet in the fourth quarter worth about $31,000. Capital Performance Advisors LLP bought a new stake in Grocery Outlet during the 3rd quarter valued at approximately $32,000. KBC Group NV grew its holdings in shares of Grocery Outlet by 62.7% during the 4th quarter. KBC Group NV now owns 4,506 shares of the company’s stock worth $70,000 after acquiring an additional 1,736 shares during the period. Finally, True Wealth Design LLC bought a new position in shares of Grocery Outlet in the 3rd quarter worth approximately $75,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

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.