Grocery Outlet (NASDAQ:GO) Price Target Lowered to $18.00 at Wells Fargo & Company

Grocery Outlet (NASDAQ:GO) had its price target decreased by stock analysts at Wells Fargo & Company from $23.00 to $18.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 14.36% from the company’s current price.

A number of other research analysts have also recently weighed in on GO. Deutsche Bank Aktiengesellschaft cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a research note on Wednesday. TD Cowen lowered Grocery Outlet from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $25.00 to $16.00 in a research note on Wednesday, November 6th. The Goldman Sachs Group decreased their target price on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. UBS Group dropped their price target on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Finally, Telsey Advisory Group reduced their price objective on shares of Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.09.

Grocery Outlet Price Performance

NASDAQ GO opened at $15.74 on Wednesday. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. Grocery Outlet has a 12 month low of $13.60 and a 12 month high of $29.19. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 9.08 and a beta of 0.32. The company’s 50 day moving average is $16.26 and its two-hundred day moving average is $17.18.

Institutional Trading of Grocery Outlet

A number of hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. raised its position in shares of Grocery Outlet by 76.6% in the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares in the last quarter. Decker Retirement Planning Inc. purchased a new position in Grocery Outlet in the fourth quarter valued at about $31,000. Capital Performance Advisors LLP bought a new position in shares of Grocery Outlet during the 3rd quarter worth approximately $32,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Grocery Outlet during the fourth quarter worth $41,000. Finally, Quadrant Capital Group LLC increased its position in Grocery Outlet by 276.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock valued at $43,000 after buying an additional 2,036 shares in the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

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.