Morgan Stanley Lowers Grocery Outlet (NASDAQ:GO) Price Target to $10.00

Grocery Outlet (NASDAQ:GO) had its target price cut by investment analysts at Morgan Stanley from $13.00 to $10.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Morgan Stanley’s price objective would suggest a potential downside of 10.63% from the company’s previous close.

Several other research firms have also commented on GO. TD Cowen lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and lowered their price objective for the company from $25.00 to $16.00 in a research note on Wednesday, November 6th. Telsey Advisory Group lowered their price objective on shares of Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a research note on Wednesday. Bank of America lowered their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday. Roth Mkm lowered their price objective on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research note on Wednesday. Two analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.58.

Grocery Outlet Stock Down 28.9 %

Shares of NASDAQ GO traded down $4.55 during midday trading on Wednesday, hitting $11.19. The company’s stock had a trading volume of 6,006,936 shares, compared to its average volume of 2,065,956. The business’s fifty day simple moving average is $16.26 and its two-hundred day simple moving average is $17.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. Grocery Outlet has a 1 year low of $10.26 and a 1 year high of $29.19. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 9.08 and a beta of 0.32.

Institutional Investors Weigh In On Grocery Outlet

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Grocery Outlet during the 3rd quarter worth $32,000. Decker Retirement Planning Inc. acquired a new stake in Grocery Outlet during the 4th quarter worth $31,000. Aster Capital Management DIFC Ltd acquired a new stake in Grocery Outlet during the 4th quarter worth $41,000. Finally, Quadrant Capital Group LLC raised its stake in Grocery Outlet by 276.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock worth $43,000 after acquiring an additional 2,036 shares in the last quarter. 99.87% of the stock is currently 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.