Grocery Outlet’s (GO) “Market Perform” Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Grocery Outlet (NASDAQ:GO) in a report published on Thursday morning,Benzinga reports. Telsey Advisory Group currently has a $18.00 price target on the stock.

Several other equities analysts have also recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Bank of America lowered shares of Grocery Outlet from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $29.00 to $17.00 in a research note on Wednesday, October 30th. Loop Capital started coverage on shares of Grocery Outlet in a research note on Thursday, October 17th. They issued a “hold” rating and a $17.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered their price target on Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, TD Cowen cut Grocery Outlet from a “buy” rating to a “hold” rating and cut their price objective for the company from $25.00 to $16.00 in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.00.

Grocery Outlet Stock Performance

Shares of GO opened at $16.73 on Thursday. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 4.74 and a beta of 0.25. Grocery Outlet has a 12 month low of $13.60 and a 12 month high of $29.19. The firm has a fifty day simple moving average of $17.87 and a 200 day simple moving average of $18.72. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the business posted $0.25 EPS. The company’s quarterly revenue was up 10.4% on a year-over-year basis. Research analysts forecast that Grocery Outlet will post 0.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Erik D. Ragatz purchased 110,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the completion of the purchase, the director now owns 539,785 shares in the company, valued at approximately $9,851,076.25. This represents a 25.59 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Grocery Outlet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in shares of Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares during the period. Capital Performance Advisors LLP bought a new position in Grocery Outlet in the 3rd quarter valued at about $32,000. Innealta Capital LLC acquired a new position in shares of Grocery Outlet in the 2nd quarter valued at approximately $38,000. True Wealth Design LLC bought a new stake in shares of Grocery Outlet during the 3rd quarter worth approximately $75,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Grocery Outlet during the 2nd quarter worth approximately $82,000. 99.87% of the stock is owned by institutional investors and hedge funds.

About Grocery Outlet

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.