Grocery Outlet (NYSE:GO) Price Target Raised to $40.00

Grocery Outlet (NYSE:GO) had its target price boosted by equities research analysts at Bank of America from $37.00 to $40.00 in a research note issued to investors on Wednesday, Briefing.com Automated Import reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s target price indicates a potential downside of 1.26% from the company’s current price.

Other equities analysts have also issued reports about the company. Barclays began coverage on Grocery Outlet in a research report on Monday, July 15th. They set an “equal weight” rating and a $32.00 price target on the stock. Guggenheim began coverage on Grocery Outlet in a research report on Monday, July 15th. They set a “neutral” rating on the stock. Morgan Stanley began coverage on Grocery Outlet in a research report on Monday, July 15th. They set an “equal weight” rating and a $30.00 price target on the stock. Goldman Sachs Group began coverage on Grocery Outlet in a research report on Monday, July 15th. They set a “neutral” rating and a $32.00 price target on the stock. Finally, Cowen restated an “outperform” rating and set a $48.00 price target (up from $42.00) on shares of Grocery Outlet in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Grocery Outlet presently has an average rating of “Hold” and a consensus target price of $37.88.

Shares of NYSE:GO traded up $2.91 on Wednesday, hitting $40.51. The company’s stock had a trading volume of 21,864 shares, compared to its average volume of 532,351. The firm’s 50-day moving average price is $35.74. Grocery Outlet has a 1 year low of $27.75 and a 1 year high of $39.56.



Grocery Outlet (NYSE:GO) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.07. The firm had revenue of $645.30 million for the quarter, compared to analysts’ expectations of $626.60 million. Grocery Outlet’s revenue for the quarter was up 12.2% on a year-over-year basis.

In other Grocery Outlet news, CFO Charles Bracher acquired 2,610 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were purchased at an average cost of $22.00 per share, for a total transaction of $57,420.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey York acquired 25,000 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was acquired at an average price of $22.00 per share, for a total transaction of $550,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 58,530 shares of company stock worth $1,287,660.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC bought a new stake in shares of Grocery Outlet during the second quarter valued at approximately $43,000. First Mercantile Trust Co. bought a new stake in shares of Grocery Outlet during the second quarter valued at approximately $53,000. Public Employees Retirement System of Ohio bought a new stake in shares of Grocery Outlet during the second quarter valued at approximately $226,000. Emerald Advisers LLC bought a new stake in shares of Grocery Outlet during the second quarter valued at approximately $256,000. Finally, Columbus Circle Investors bought a new stake in shares of Grocery Outlet during the second quarter valued at approximately $417,000.

About Grocery Outlet

Grocery Outlet Holding Corp. owns and operates a chain of grocery stores in the United States. The company offers products in various categories, such as grocery, dairy and deli, produce, refrigerated and frozen, floral, beer and wine, general merchandise, and health and beauty care, as well as fresh meat and seafood; and natural, organic, specialty, and healthy products.

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Analyst Recommendations for Grocery Outlet (NYSE:GO)

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