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

Grocery Outlet Holding Corp. (NASDAQ:GO) has been assigned an average rating of “Hold” from the twelve brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $18.00.

Several equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. TD Cowen lowered Grocery Outlet from a “buy” rating to a “hold” rating and decreased their target price for the stock from $25.00 to $16.00 in a research report on Wednesday, November 6th. The Goldman Sachs Group dropped their price target on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research report on Friday, November 1st. Wells Fargo & Company decreased their price objective on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Finally, UBS Group dropped their target price on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz acquired 110,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $18.25 per share, with a total value of $2,007,500.00. Following the transaction, the director now owns 539,785 shares of the company’s stock, valued at $9,851,076.25. The trade was a 25.59 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GO. Franklin Resources Inc. increased its position in Grocery Outlet by 1.8% during the third quarter. Franklin Resources Inc. now owns 29,987 shares of the company’s stock valued at $526,000 after acquiring an additional 529 shares during the last quarter. Blue Trust Inc. lifted 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 purchasing an additional 722 shares during the period. Innealta Capital LLC bought a new position in shares of Grocery Outlet in the 2nd quarter worth approximately $38,000. Capital Performance Advisors LLP purchased a new position in shares of Grocery Outlet in the third quarter worth approximately $32,000. Finally, Arizona State Retirement System grew its position in Grocery Outlet by 7.2% during the second quarter. Arizona State Retirement System now owns 27,779 shares of the company’s stock valued at $614,000 after buying an additional 1,862 shares during the period. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Grocery Outlet Trading Up 0.8 %

NASDAQ GO opened at $16.73 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. 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 cap of $1.63 billion, a P/E ratio of 32.80, a price-to-earnings-growth ratio of 4.74 and a beta of 0.25. The stock has a 50 day simple moving average of $17.87 and a two-hundred day simple moving average of $18.72.

Grocery Outlet (NASDAQ:GO) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, analysts forecast that Grocery Outlet will post 0.63 earnings per share for the current 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.