Grocery Outlet Holding Corp. (NASDAQ:GO) Given Consensus Recommendation of “Hold” by Brokerages

Grocery Outlet Holding Corp. (NASDAQ:GO) has been given an average recommendation of “Hold” by the nine brokerages that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.75.

Several research analysts have weighed in on the stock. The Goldman Sachs Group lowered their price target on shares of Grocery Outlet from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, May 9th. Telsey Advisory Group lowered their price target on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Craig Hallum downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and lowered their price target for the stock from $32.00 to $20.00 in a report on Wednesday, July 31st. UBS Group reduced their target price on shares of Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, TD Cowen cut their price objective on Grocery Outlet from $43.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, May 10th.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, EVP Luke D. Thompson sold 1,332 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $22.43, for a total value of $29,876.76. Following the transaction, the executive vice president now directly owns 32,306 shares in the company, valued at $724,623.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

Hedge funds and other institutional investors have recently modified their holdings of the business. Treasurer of the State of North Carolina lifted its holdings in Grocery Outlet by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 42,093 shares of the company’s stock worth $1,135,000 after purchasing an additional 410 shares in the last quarter. Versor Investments LP lifted its position in Grocery Outlet by 1.5% during the fourth quarter. Versor Investments LP now owns 37,341 shares of the company’s stock valued at $1,007,000 after purchasing an additional 550 shares during the last quarter. State of Michigan Retirement System grew its position in Grocery Outlet by 2.5% in the first quarter. State of Michigan Retirement System now owns 24,380 shares of the company’s stock worth $702,000 after acquiring an additional 600 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Grocery Outlet by 2.5% during the 1st quarter. Louisiana State Employees Retirement System now owns 28,600 shares of the company’s stock valued at $823,000 after purchasing an additional 700 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Grocery Outlet in the 1st quarter worth approximately $25,000. Institutional investors own 99.87% of the company’s stock.

Grocery Outlet Trading Down 1.7 %

Shares of Grocery Outlet stock opened at $18.84 on Friday. Grocery Outlet has a 12-month low of $18.16 and a 12-month high of $34.36. The company has a quick ratio of 0.30, a current ratio of 1.25 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $20.64 and its 200-day moving average is $23.73. The stock has a market cap of $1.88 billion, a P/E ratio of 29.44, a P/E/G ratio of 3.55 and a beta of 0.09.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. Grocery Outlet had a net margin of 1.60% and a return on equity of 5.46%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the business earned $0.23 EPS. Grocery Outlet’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities research analysts predict that Grocery Outlet will post 0.69 earnings per share for the current fiscal year.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. operates as a retailer of consumables and fresh products sold through independently operated stores in the United States. Its stores offer products in various categories, such as dairy and deli, produce, floral, fresh meat, seafood products, grocery, general merchandise, health and beauty care, frozen food, beer and wine, and ethnic products.