Grocery Outlet Holding Corp. (NASDAQ:GO) Receives Average Recommendation of “Hold” from Brokerages

Grocery Outlet Holding Corp. (NASDAQ:GO) has earned an average rating of “Hold” from the twelve analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $18.00.

A number of equities research analysts have recently commented on GO shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $18.00 price objective on shares of Grocery Outlet in a research note on Thursday, December 19th. Loop Capital started coverage on shares of Grocery Outlet in a research note on Thursday, October 17th. They issued a “hold” rating and a $17.00 price objective on the stock. Wells Fargo & Company reduced their price objective on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. The Goldman Sachs Group reduced their price objective on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. Finally, UBS Group dropped their target price on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th.

Insiders Place Their Bets

In other Grocery Outlet news, Director Erik D. Ragatz acquired 110,000 shares of the stock in a transaction on Friday, November 15th. The shares were purchased at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the completion of the acquisition, the director now owns 539,785 shares in the company, valued at approximately $9,851,076.25. This represents a 25.59 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GO. CIBC Asset Management Inc bought a new stake in shares of Grocery Outlet in the 2nd quarter worth $217,000. Victory Capital Management Inc. grew its stake in shares of Grocery Outlet by 1,891.8% in the 2nd quarter. Victory Capital Management Inc. now owns 743,069 shares of the company’s stock worth $16,437,000 after acquiring an additional 705,762 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Grocery Outlet by 7.2% in the 2nd quarter. Arizona State Retirement System now owns 27,779 shares of the company’s stock worth $614,000 after acquiring an additional 1,862 shares in the last quarter. Choreo LLC bought a new stake in shares of Grocery Outlet in the 2nd quarter worth $258,000. Finally, Headlands Technologies LLC bought a new stake in shares of Grocery Outlet in the 2nd quarter worth $248,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

Grocery Outlet Trading Down 2.3 %

GO opened at $16.34 on Wednesday. Grocery Outlet has a fifty-two week low of $13.60 and a fifty-two week high of $29.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 4.81 and a beta of 0.31. The company’s 50 day moving average price is $17.84 and its two-hundred day moving average price is $18.06.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the firm posted $0.25 EPS. The company’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, research analysts predict that Grocery Outlet will post 0.63 earnings per share for the current year.

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.