Grocery Outlet (NYSE:GO) Issues Earnings Results, Beats Estimates By $0.04 EPS

Grocery Outlet (NYSE:GO) issued its quarterly earnings results on Tuesday. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.04, MarketWatch Earnings reports. The firm had revenue of $655.52 million for the quarter, compared to the consensus estimate of $654.72 million. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year.

Shares of Grocery Outlet stock opened at $33.20 on Wednesday. Grocery Outlet has a one year low of $27.75 and a one year high of $47.57. The business’s 50 day simple moving average is $31.73 and its two-hundred day simple moving average is $32.92.

GO has been the subject of several research reports. Craig Hallum assumed coverage on Grocery Outlet in a research note on Wednesday, January 29th. They issued a “buy” rating and a $47.00 target price for the company. Deutsche Bank lowered their price objective on shares of Grocery Outlet from $45.00 to $43.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Zacks Investment Research cut shares of Grocery Outlet from a “hold” rating to a “sell” rating in a research note on Tuesday, March 3rd. Telsey Advisory Group reaffirmed an “outperform” rating on shares of Grocery Outlet in a report on Tuesday, March 17th. Finally, Morgan Stanley decreased their target price on shares of Grocery Outlet from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $41.10.

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

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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