Brokerages Set Grocery Outlet Holding Corp. (NASDAQ:GO) PT at $14.50

Grocery Outlet Holding Corp. (NASDAQ:GO) has received a consensus rating of “Hold” from the thirteen ratings firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $14.3182.

Several equities analysts recently commented on GO shares. Morgan Stanley dropped their target price on Grocery Outlet from $14.00 to $11.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Bank of America dropped their price objective on Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft set a $11.00 target price on Grocery Outlet in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grocery Outlet in a report on Thursday, January 22nd. Finally, Zacks Research cut shares of Grocery Outlet from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th.

Hedge Funds Weigh In On Grocery Outlet

Several large investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd increased its position in shares of Grocery Outlet by 1,030.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,532 shares of the company’s stock worth $26,000 after purchasing an additional 2,308 shares in the last quarter. Bayforest Capital Ltd purchased a new position in Grocery Outlet during the 3rd quarter worth approximately $29,000. Hantz Financial Services Inc. increased its position in Grocery Outlet by 591.5% during the third quarter. Hantz Financial Services Inc. now owns 2,033 shares of the company’s stock worth $33,000 after buying an additional 1,739 shares during the period. Kestra Advisory Services LLC purchased a new stake in Grocery Outlet in the fourth quarter valued at approximately $35,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Grocery Outlet by 32.3% in the second quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company’s stock valued at $37,000 after acquiring an additional 719 shares during the period. Institutional investors and hedge funds own 99.87% of the company’s stock.

Grocery Outlet Trading Up 2.8%

NASDAQ GO opened at $10.32 on Thursday. Grocery Outlet has a 52 week low of $8.96 and a 52 week high of $19.41. The firm has a 50 day moving average of $9.92 and a two-hundred day moving average of $13.27. The stock has a market capitalization of $1.01 billion, a PE ratio of -206.40, a price-to-earnings-growth ratio of 2.00 and a beta of 0.49. The company has a quick ratio of 0.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.40.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.

The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.