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.
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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