Grocery Outlet (GO) – Research Analysts’ Recent Ratings Changes

A number of research firms have changed their ratings and price targets for Grocery Outlet (NASDAQ: GO):

• 8/7/2024 – Grocery Outlet was upgraded by analysts at Roth Capital from a “hold” rating to a “strong-buy” rating.
• 8/7/2024 – Grocery Outlet had its price target lowered by analysts at Telsey Advisory Group from $31.00 to $27.00. They now have an “outperform” rating on the stock.
• 8/7/2024 – Grocery Outlet had its price target lowered by analysts at UBS Group AG from $27.00 to $21.00. They now have a “neutral” rating on the stock.
• 8/7/2024 – Grocery Outlet had its price target lowered by analysts at Roth Mkm from $22.00 to $20.00. They now have a “neutral” rating on the stock.
• 7/31/2024 – Grocery Outlet had its “outperform” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $31.00 price target on the stock.
• 7/31/2024 – Grocery Outlet was downgraded by analysts at Craig Hallum from a “buy” rating to a “hold” rating. They now have a $20.00 price target on the stock, down previously from $32.00.
• 7/18/2024 – Grocery Outlet is now covered by analysts at Wells Fargo & Company. They set an “overweight” rating and a $28.00 price target on the stock.

Grocery Outlet Price Performance

Shares of GO opened at $18.86 on Monday. The firm has a market cap of $1.88 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 3.55 and a beta of 0.09. Grocery Outlet Holding Corp. has a 52-week low of $18.16 and a 52-week high of $34.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.30 and a current ratio of 1.25. The business’s 50 day moving average price is $20.60 and its two-hundred day moving average price is $23.66.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. Grocery Outlet had a net margin of 1.60% and a return on equity of 5.46%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the firm earned $0.23 earnings per share. Grocery Outlet’s revenue was up 11.7% on a year-over-year basis. On average, equities analysts anticipate that Grocery Outlet Holding Corp. will post 0.69 EPS for the current year.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, EVP Luke D. Thompson sold 1,332 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $22.43, for a total transaction of $29,876.76. Following the completion of the sale, the executive vice president now directly owns 32,306 shares of the company’s stock, valued at approximately $724,623.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Grocery Outlet in the 1st quarter worth approximately $25,000. Innealta Capital LLC bought a new position in shares of Grocery Outlet during the 2nd quarter worth $38,000. Canada Pension Plan Investment Board bought a new stake in Grocery Outlet in the 2nd quarter valued at about $82,000. Daiwa Securities Group Inc. purchased a new stake in Grocery Outlet during the first quarter valued at about $127,000. Finally, Headlands Technologies LLC boosted its position in Grocery Outlet by 32,200.0% during the fourth quarter. Headlands Technologies LLC now owns 4,845 shares of the company’s stock worth $131,000 after purchasing an additional 4,830 shares during the period. Hedge funds and other institutional investors own 99.87% of the company’s stock.

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.