Analysts Set Grocery Outlet Holding Corp. (NASDAQ:GO) Price Target at $18.00

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have received a consensus recommendation of “Hold” from the twelve analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $18.00.

A number of research analysts recently issued reports on the stock. Roth Mkm dropped their target price on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Craig Hallum dropped their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Roth Capital upgraded Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Melius Research assumed coverage on shares of Grocery Outlet in a research report on Monday, September 23rd. They issued a “hold” rating and a $17.00 price target for the company. Finally, UBS Group lowered their price objective on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th.

Insiders Place Their Bets

In other Grocery Outlet news, Director Erik D. Ragatz bought 110,000 shares of the stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the purchase, the director now directly owns 539,785 shares of the company’s stock, valued at approximately $9,851,076.25. This trade represents a 25.59 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the transaction, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. The trade was a 73.83 % decrease in their position. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Grocery Outlet

A number of hedge funds have recently modified their holdings of GO. Sanctuary Advisors LLC bought a new stake in Grocery Outlet in the 3rd quarter valued at about $360,000. Barclays PLC increased its stake in shares of Grocery Outlet by 1,224.1% in the third quarter. Barclays PLC now owns 300,393 shares of the company’s stock worth $5,271,000 after purchasing an additional 277,706 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Grocery Outlet in the third quarter worth about $511,000. Jane Street Group LLC lifted its stake in shares of Grocery Outlet by 357.7% during the 3rd quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock valued at $9,118,000 after buying an additional 406,039 shares in the last quarter. Finally, State Street Corp boosted its holdings in Grocery Outlet by 0.6% in the 3rd quarter. State Street Corp now owns 3,407,152 shares of the company’s stock worth $59,796,000 after buying an additional 21,237 shares during the period. Institutional investors own 99.87% of the company’s stock.

Grocery Outlet Price Performance

Shares of GO opened at $20.88 on Tuesday. The business has a 50-day moving average of $16.90 and a 200-day moving average of $19.05. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 40.94, a price-to-earnings-growth ratio of 4.92 and a beta of 0.13. Grocery Outlet has a 1 year low of $13.60 and a 1 year high of $29.80.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share (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 firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company earned $0.25 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, equities research analysts anticipate that Grocery Outlet will post 0.63 earnings per share for the current year.

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.