Grocery Outlet Holding Corp. (NASDAQ:GO) Receives $32.25 Average Target Price from Brokerages

Grocery Outlet Holding Corp. (NASDAQ:GOGet Free Report) has been given an average rating of “Hold” by the ten research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $32.25.

A number of brokerages recently commented on GO. Roth Mkm lowered their target price on Grocery Outlet from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, November 8th. The Goldman Sachs Group cut Grocery Outlet from a “buy” rating to a “sell” rating and lowered their target price for the company from $33.00 to $24.00 in a report on Tuesday, December 12th. TheStreet cut Grocery Outlet from a “b-” rating to a “c+” rating in a report on Wednesday, October 11th. Finally, Morgan Stanley lowered their target price on Grocery Outlet from $27.00 to $20.00 and set an “underweight” rating for the company in a report on Thursday, November 9th.

Check Out Our Latest Research Report on GO

Grocery Outlet Trading Up 0.6 %

Shares of GO stock opened at $25.48 on Wednesday. The stock has a 50 day simple moving average of $27.45 and a 200-day simple moving average of $29.22. Grocery Outlet has a 1-year low of $24.91 and a 1-year high of $36.54. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.34 and a quick ratio of 0.54. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 2.34 and a beta of 0.08.

Grocery Outlet (NASDAQ:GOGet Free Report) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Grocery Outlet had a return on equity of 7.78% and a net margin of 2.08%. On average, equities research analysts expect that Grocery Outlet will post 0.82 EPS for the current fiscal year.

Insider Activity

In other news, Director Thomas F. Herman sold 2,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $28.76, for a total transaction of $57,520.00. Following the sale, the director now owns 13,400 shares of the company’s stock, valued at approximately $385,384. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisor Group Holdings Inc. increased its position in Grocery Outlet by 51.3% during the first quarter. Advisor Group Holdings Inc. now owns 5,508 shares of the company’s stock worth $192,000 after buying an additional 1,868 shares during the period. Raymond James & Associates increased its position in Grocery Outlet by 38.3% during the first quarter. Raymond James & Associates now owns 55,554 shares of the company’s stock worth $1,821,000 after buying an additional 15,389 shares during the period. Private Advisor Group LLC acquired a new position in Grocery Outlet during the first quarter worth approximately $242,000. Citigroup Inc. increased its position in Grocery Outlet by 120.4% during the first quarter. Citigroup Inc. now owns 22,823 shares of the company’s stock worth $748,000 after buying an additional 134,572 shares during the period. Finally, Bank of Montreal Can acquired a new position in Grocery Outlet during the first quarter worth approximately $1,166,000.

About Grocery Outlet

(Get Free Report

Grocery Outlet Holding Corp. engages in ownership and operation of a network of independently operated stores in the United States. The company's stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine.

See Also

Analyst Recommendations for Grocery Outlet (NASDAQ:GO)

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