Grocery Outlet Holding Corp. (NASDAQ:GO) Receives $15.62 Consensus Target Price from Analysts

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have been assigned a consensus rating of “Hold” from the fourteen ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $15.62.

Several equities analysts have recently issued reports on GO shares. The Goldman Sachs Group reduced their price objective on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft downgraded Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a research report on Wednesday, February 26th. Morgan Stanley cut their target price on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company upped their target price on Grocery Outlet from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Finally, Bank of America cut their target price on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th.

Grocery Outlet Stock Up 1.8%

NASDAQ:GO opened at $14.22 on Tuesday. The firm has a market capitalization of $1.39 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 9.08 and a beta of 0.42. The stock has a 50 day moving average of $14.25 and a 200-day moving average of $15.79. Grocery Outlet has a 52 week low of $10.26 and a 52 week high of $23.25. 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 issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.06. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 earnings per share. Analysts predict that Grocery Outlet will post 0.63 EPS for the current year.

Insider Activity

In other news, SVP Lindsay E. Gray sold 2,741 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total value of $31,082.94. Following the completion of the sale, the senior vice president now owns 41,448 shares in the company, valued at $470,020.32. This represents a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Erik D. Ragatz purchased 19,000 shares of the company’s stock in a transaction dated Friday, May 9th. The stock was bought at an average cost of $14.46 per share, for a total transaction of $274,740.00. Following the completion of the purchase, the director now directly owns 19,000 shares of the company’s stock, valued at $274,740. The trade was a ? increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 219,000 shares of company stock worth $2,709,790 and sold 17,756 shares worth $216,892. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Grocery Outlet

Hedge funds have recently bought and sold shares of the business. Vancity Investment Management Ltd bought a new stake in Grocery Outlet during the first quarter valued at about $995,000. Rip Road Capital Partners LP raised its holdings in shares of Grocery Outlet by 33.9% in the 1st quarter. Rip Road Capital Partners LP now owns 707,900 shares of the company’s stock worth $9,896,000 after buying an additional 179,300 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Grocery Outlet in the 1st quarter worth approximately $6,621,000. Royal Bank of Canada grew its position in Grocery Outlet by 5.8% during the 1st quarter. Royal Bank of Canada now owns 122,565 shares of the company’s stock worth $1,713,000 after acquiring an additional 6,736 shares during the last quarter. Finally, Solas Capital Management LLC bought a new stake in Grocery Outlet during the 1st quarter worth approximately $13,736,000. 99.87% of the stock is owned by institutional investors and hedge funds.

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.