Grocery Outlet Holding Corp. (NASDAQ:GO) Given Average Rating of “Hold” by Analysts

Grocery Outlet Holding Corp. (NASDAQ:GO) has earned an average rating of “Hold” from the twelve ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $18.00.

Several brokerages have recently issued reports on GO. TD Cowen lowered Grocery Outlet from a “buy” rating to a “hold” rating and decreased their target price for the company from $25.00 to $16.00 in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft reduced their price objective on Grocery Outlet from $29.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Roth Mkm cut their price target on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $18.00 price objective on shares of Grocery Outlet in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group cut their price objective on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a report on Friday, November 1st.

Insiders Place Their Bets

In other news, Director Erik D. Ragatz bought 110,000 shares of the stock in a transaction on Friday, November 15th. The shares were bought at an average price of $18.25 per share, with a total value of $2,007,500.00. Following the completion of the acquisition, the director now owns 539,785 shares in the company, valued at $9,851,076.25. The trade was a 25.59 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in 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 buying an additional 722 shares in the last quarter. Decker Retirement Planning Inc. bought a new stake in Grocery Outlet during the 4th quarter valued at approximately $31,000. Capital Performance Advisors LLP purchased a new position in Grocery Outlet in the 3rd quarter worth approximately $32,000. KBC Group NV grew its holdings in Grocery Outlet by 62.7% during the 4th quarter. KBC Group NV now owns 4,506 shares of the company’s stock valued at $70,000 after buying an additional 1,736 shares in the last quarter. Finally, True Wealth Design LLC bought a new stake in shares of Grocery Outlet during the third quarter valued at approximately $75,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Grocery Outlet Price Performance

Shares of GO opened at $16.19 on Friday. The firm has a market cap of $1.57 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 17.79 and a beta of 0.31. Grocery Outlet has a 52-week low of $13.60 and a 52-week high of $29.19. The business’s 50 day moving average price is $17.29 and its two-hundred day moving average price is $17.62. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46.

Grocery Outlet (NASDAQ:GO) last announced its earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Grocery Outlet’s quarterly revenue was up 10.4% on a year-over-year basis. On average, equities analysts anticipate that Grocery Outlet will post 0.63 EPS 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.