Jefferies Financial Group Analysts Give Grocery Outlet (NYSE:GO) a $51.00 Price Target

Grocery Outlet (NYSE:GO) has been given a $51.00 price target by equities researchers at Jefferies Financial Group in a research note issued to investors on Tuesday, TipRanks reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price points to a potential upside of 55.54% from the stock’s current price. Jefferies Financial Group also issued estimates for Grocery Outlet’s Q3 2019 earnings at $0.19 EPS.

A number of other research analysts have also recently commented on GO. Guggenheim initiated coverage on Grocery Outlet in a research note on Monday, July 15th. They issued a “neutral” rating for the company. Morgan Stanley initiated coverage on Grocery Outlet in a research note on Monday, July 15th. They issued an “equal weight” rating and a $30.00 target price for the company. Cowen restated an “outperform” rating and issued a $48.00 target price (up previously from $42.00) on shares of Grocery Outlet in a research note on Wednesday, August 14th. Goldman Sachs Group initiated coverage on Grocery Outlet in a research note on Monday, July 15th. They issued a “neutral” rating and a $32.00 target price for the company. Finally, Deutsche Bank raised their target price on Grocery Outlet from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $40.13.

Shares of GO stock traded up $0.49 during trading hours on Tuesday, reaching $32.79. The company’s stock had a trading volume of 759,959 shares, compared to its average volume of 757,313. Grocery Outlet has a one year low of $27.75 and a one year high of $47.57. The business’s fifty day moving average is $37.74.

Grocery Outlet (NYSE:GO) last released its earnings results on Tuesday, August 13th. The company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.07. The firm had revenue of $645.30 million during the quarter, compared to analysts’ expectations of $626.60 million. The business’s revenue was up 12.2% on a year-over-year basis.

Large investors have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. purchased a new position in Grocery Outlet during the second quarter valued at $30,000. Tower Research Capital LLC TRC purchased a new position in Grocery Outlet during the second quarter valued at $43,000. First Mercantile Trust Co. purchased a new position in Grocery Outlet during the second quarter valued at $53,000. Victory Capital Management Inc. purchased a new position in Grocery Outlet during the second quarter valued at $132,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Grocery Outlet during the second quarter valued at $147,000.

Grocery Outlet Company Profile

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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Analyst Recommendations for Grocery Outlet (NYSE:GO)

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