Barclays Reiterates “Hold” Rating for Grocery Outlet (NYSE:GO)

Barclays reiterated their hold rating on shares of Grocery Outlet (NYSE:GO) in a research note issued to investors on Thursday, AnalystRatings.com reports. The firm currently has a $37.00 price target on the stock.

GO has been the subject of several other reports. Bank of America upped their target price on Grocery Outlet from $37.00 to $40.00 and gave the company a neutral rating in a report on Wednesday. Jefferies Financial Group upped their target price on Grocery Outlet from $41.00 to $50.00 and gave the company a buy rating in a report on Wednesday. Goldman Sachs Group began coverage on Grocery Outlet in a report on Monday, July 15th. They issued a neutral rating and a $32.00 target price for the company. Telsey Advisory Group began coverage on Grocery Outlet in a report on Monday, July 15th. They issued an outperform rating and a $40.00 target price for the company. Finally, Deutsche Bank upped their target price on Grocery Outlet from $40.00 to $43.00 and gave the company a buy rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $40.00.

NYSE:GO traded up $1.54 during trading hours on Thursday, hitting $45.30. The company had a trading volume of 30,858 shares, compared to its average volume of 629,265. The business’s 50-day moving average price is $36.13. Grocery Outlet has a 1 year low of $27.75 and a 1 year high of $43.82.



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

In other Grocery Outlet news, SVP Steven K. Wilson purchased 20,000 shares of the stock in a transaction dated Monday, June 24th. The stock was acquired at an average cost of $22.00 per share, for a total transaction of $440,000.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey York purchased 25,000 shares of the stock in a transaction dated Monday, June 24th. The shares were acquired at an average price of $22.00 per share, with a total value of $550,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 58,530 shares of company stock valued at $1,287,660.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new position in Grocery Outlet during the 2nd quarter worth about $43,000. First Mercantile Trust Co. acquired a new position in Grocery Outlet during the 2nd quarter worth about $53,000. Victory Capital Management Inc. acquired a new position in Grocery Outlet during the 2nd quarter worth about $132,000. Cubist Systematic Strategies LLC acquired a new position in Grocery Outlet during the 2nd quarter worth about $147,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Grocery Outlet during the 2nd quarter worth about $226,000.

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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