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

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

Several analysts have issued reports on GO shares. TD Cowen downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and cut their target price for the company from $25.00 to $16.00 in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft decreased 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. Wells Fargo & Company reduced their target price on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Bank of America lowered Grocery Outlet from a “buy” rating to a “neutral” rating and decreased their price target for the company from $29.00 to $17.00 in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group reduced their target price on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a report on Friday, November 1st.

Insider Transactions at Grocery Outlet

In related news, Director Erik D. Ragatz purchased 110,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was acquired at an average price of $18.25 per share, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Grocery Outlet

A number of hedge funds and other institutional investors have recently made changes to their positions in GO. Envestnet Asset Management Inc. raised its holdings in shares of Grocery Outlet by 12.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 79,507 shares of the company’s stock valued at $1,759,000 after acquiring an additional 8,494 shares in the last quarter. Red Spruce Capital LLC boosted its position in Grocery Outlet by 32.1% during the third quarter. Red Spruce Capital LLC now owns 118,800 shares of the company’s stock valued at $2,085,000 after buying an additional 28,852 shares during the period. CWM LLC grew its position in Grocery Outlet by 505.6% during the 3rd quarter. CWM LLC now owns 51,933 shares of the company’s stock worth $911,000 after acquiring an additional 43,358 shares during the last quarter. Patten Group Inc. raised its holdings in Grocery Outlet by 83.8% during the 3rd quarter. Patten Group Inc. now owns 45,562 shares of the company’s stock valued at $800,000 after buying an additional 20,776 shares during the last quarter. Finally, Creative Planning purchased a new stake in Grocery Outlet in the 3rd quarter worth approximately $198,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Grocery Outlet Price Performance

Shares of GO opened at $17.31 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. Grocery Outlet has a 12 month low of $13.60 and a 12 month high of $29.19. The stock has a fifty day moving average price of $17.04 and a 200 day moving average price of $17.50. The company has a market cap of $1.68 billion, a P/E ratio of 33.94, a PEG ratio of 17.18 and a beta of 0.32.

Grocery Outlet (NASDAQ:GO) last issued its quarterly 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 company 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 business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. On average, research 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.