Grocery Outlet (NYSE:GO) had its price target increased by stock analysts at Jefferies Financial Group from $41.00 to $50.00 in a report released on Wednesday, The Fly reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s target price indicates a potential upside of 28.80% from the stock’s previous close.
A number of other equities analysts also recently weighed in on GO. Guggenheim started coverage on Grocery Outlet in a research report on Monday, July 15th. They set a “neutral” rating for the company. Telsey Advisory Group initiated coverage on Grocery Outlet in a research report on Monday, July 15th. They set an “outperform” rating and a $40.00 price target for the company. Bank of America increased their price objective on Grocery Outlet from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday. Morgan Stanley initiated coverage on Grocery Outlet in a report on Monday, July 15th. They issued an “equal weight” rating and a $30.00 price objective for the company. Finally, Goldman Sachs Group initiated coverage on Grocery Outlet in a report on Monday, July 15th. They issued a “neutral” rating and a $32.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $39.38.
NYSE:GO traded up $1.22 during trading hours on Wednesday, reaching $38.82. 3,247,321 shares of the stock were exchanged, compared to its average volume of 612,982. Grocery Outlet has a twelve month low of $27.75 and a twelve month high of $42.31. The company’s 50 day simple moving average is $35.95.
In other Grocery Outlet news, Director Jeffrey York purchased 25,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were acquired at an average price of $22.00 per share, for a total transaction of $550,000.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Charles Bracher purchased 2,610 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was acquired at an average price of $22.00 per share, for a total transaction of $57,420.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 58,530 shares of company stock valued at $1,287,660.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC bought a new stake in Grocery Outlet in the 2nd quarter valued at $43,000. First Mercantile Trust Co. bought a new position in Grocery Outlet during the 2nd quarter worth $53,000. Public Employees Retirement System of Ohio bought a new position in Grocery Outlet during the 2nd quarter worth $226,000. Emerald Advisers LLC bought a new position in Grocery Outlet during the 2nd quarter worth $256,000. Finally, Columbus Circle Investors bought a new position in Grocery Outlet during the 2nd quarter worth $417,000.
Grocery Outlet Company Profile
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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