Grocery Outlet (NYSE:GO) Announces Quarterly Earnings Results

Grocery Outlet (NYSE:GO) released its quarterly earnings data on Tuesday. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04, MarketWatch Earnings reports. The company had revenue of $655.52 million during the quarter, compared to analyst estimates of $654.72 million. The business’s revenue was up 12.0% compared to the same quarter last year.

Shares of GO opened at $33.20 on Wednesday. Grocery Outlet has a fifty-two week low of $27.75 and a fifty-two week high of $47.57. The firm has a 50-day simple moving average of $31.73 and a 200-day simple moving average of $32.92.

In other news, Director Thomas F. Herman sold 2,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $33.70, for a total transaction of $67,400.00. Following the completion of the sale, the director now owns 23,185 shares in the company, valued at $781,334.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Charles Bracher sold 18,750 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $35.31, for a total transaction of $662,062.50. Following the completion of the sale, the chief financial officer now owns 60,840 shares of the company’s stock, valued at approximately $2,148,260.40. The disclosure for this sale can be found here. Insiders have sold 61,638 shares of company stock valued at $2,161,939 in the last quarter.

Several equities analysts have issued reports on GO shares. Craig Hallum started coverage on shares of Grocery Outlet in a research note on Wednesday, January 29th. They issued a “buy” rating and a $47.00 price objective for the company. Zacks Investment Research downgraded shares of Grocery Outlet from a “hold” rating to a “sell” rating in a research note on Tuesday, March 3rd. Telsey Advisory Group restated an “outperform” rating on shares of Grocery Outlet in a research note on Tuesday, March 17th. Morgan Stanley decreased their price objective on shares of Grocery Outlet from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 17th. Finally, Deutsche Bank decreased their price objective on shares of Grocery Outlet from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $41.10.

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.

See Also: What is the definition of arbitrage?

Receive News & Ratings for Grocery Outlet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Grocery Outlet and related companies with MarketBeat.com's FREE daily email newsletter.