Telsey Advisory Group Issues Pessimistic Forecast for Grocery Outlet (NASDAQ:GO) Stock Price

Grocery Outlet (NASDAQ:GO) had its price objective cut by analysts at Telsey Advisory Group from $19.00 to $18.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 4.71% from the company’s current price.

A number of other equities analysts also recently commented on the stock. Craig Hallum dropped their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday. Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday. Melius Research started coverage on Grocery Outlet in a report on Monday, September 23rd. They issued a “hold” rating and a $17.00 price target on the stock. Finally, Wells Fargo & Company reduced their target price on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Grocery Outlet presently has an average rating of “Hold” and a consensus price target of $18.17.

Grocery Outlet Stock Up 6.7 %

Shares of NASDAQ GO opened at $17.19 on Wednesday. Grocery Outlet has a 1 year low of $13.60 and a 1 year high of $29.98. The firm has a 50-day simple moving average of $16.59 and a two-hundred day simple moving average of $19.72. The company has a market cap of $1.68 billion, a P/E ratio of 33.71, a PEG ratio of 3.42 and a beta of 0.13. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.29.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the company earned $0.25 EPS. Grocery Outlet’s quarterly revenue was up 10.4% compared to the same quarter last year. Research analysts anticipate that Grocery Outlet will post 0.66 earnings per share for the current year.

Insider Activity at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $18.83, for a total transaction of $1,883,000.00. Following the completion of the sale, the director now directly owns 70,938 shares in the company, valued at approximately $1,335,762.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the completion of the transaction, the director now owns 70,938 shares in the company, valued at approximately $1,155,580.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $18.83, for a total value of $1,883,000.00. Following the transaction, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,335,762.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 500,095 shares of company stock worth $8,876,548 over the last quarter. Insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

A number of hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Grocery Outlet during the 1st quarter worth about $25,000. Norden Group LLC acquired a new position in shares of Grocery Outlet during the 1st quarter worth approximately $442,000. Daiwa Securities Group Inc. purchased a new position in shares of Grocery Outlet during the 1st quarter valued at approximately $127,000. Texas Permanent School Fund Corp grew its stake in Grocery Outlet by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 86,879 shares of the company’s stock valued at $2,500,000 after acquiring an additional 1,126 shares during the period. Finally, Swiss National Bank increased its holdings in Grocery Outlet by 0.6% in the 1st quarter. Swiss National Bank now owns 186,100 shares of the company’s stock worth $5,356,000 after acquiring an additional 1,200 shares in the last quarter. 99.87% of the stock is owned by hedge funds and other institutional investors.

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.