Barclays Initiates Coverage on Grocery Outlet (NYSE:GO)

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Barclays assumed coverage on shares of Grocery Outlet (NYSE:GO) in a research report issued on Monday, Briefing.com Automated Import reports. The brokerage set an “equal weight” rating and a $32.00 price target on the stock. Barclays‘s target price points to a potential downside of 8.07% from the company’s current price.

Several other brokerages have also commented on GO. Telsey Advisory Group began coverage on Grocery Outlet in a research note on Monday. They set an “outperform” rating and a $40.00 price target for the company. Goldman Sachs Group reissued a “buy” rating and issued a $70.00 price target on shares of Total in a report on Monday. Bank of America reissued a “buy” rating and issued a $78.00 price target on shares of Citigroup in a report on Monday. Finally, Cowen started coverage on Wave Life Sciences in a report on Monday. They set a “market perform” rating on the stock. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $36.75.

Grocery Outlet stock opened at $34.81 on Monday. Grocery Outlet has a 1-year low of $27.75 and a 1-year high of $36.09.

In other news, CFO Charles Bracher bought 2,610 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were acquired at an average cost of $22.00 per share, with a total value of $57,420.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Steven K. Wilson acquired 20,000 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were bought at an average cost of $22.00 per share, for a total transaction of $440,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 58,530 shares of company stock worth $1,287,660.

About Grocery Outlet

Grocery Outlet Holding Corp. owns and operates a chain of grocery stores in the United States. The company offers products in various categories, such as grocery, dairy and deli, produce, refrigerated and frozen, floral, beer and wine, general merchandise, and health and beauty care, as well as fresh meat and seafood; and natural, organic, specialty, and healthy products.

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