Analysts Set Grocery Outlet Holding Corp. (NASDAQ:GO) Target Price at $22.11

Grocery Outlet Holding Corp. (NASDAQ:GO) has earned a consensus rating of “Hold” from the ten ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $22.11.

Several research analysts have issued reports on the stock. Craig Hallum cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and dropped their target price for the stock from $32.00 to $20.00 in a report on Wednesday, July 31st. Roth Mkm dropped their price objective on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Roth Capital upgraded shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Melius Research started coverage on Grocery Outlet in a report on Monday, September 23rd. They set a “hold” rating and a $17.00 price objective for the company. Finally, UBS Group dropped their price target on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th.

Grocery Outlet Trading Down 3.1 %

Shares of NASDAQ GO opened at $16.80 on Monday. Grocery Outlet has a 1-year low of $15.72 and a 1-year high of $29.98. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.29. The business’s 50 day moving average is $18.11 and its two-hundred day moving average is $21.72. The stock has a market capitalization of $1.68 billion, a P/E ratio of 26.25, a PEG ratio of 3.12 and a beta of 0.10.

Grocery Outlet (NASDAQ:GO) last released its earnings results on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 earnings per share. As a group, research analysts expect that Grocery Outlet will post 0.68 EPS for the current year.

Insider Activity

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the completion of the transaction, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,340,728.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the sale, the director now owns 70,938 shares in the company, valued at $1,155,580.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $18.90, for a total value of $1,890,000.00. Following the transaction, the director now owns 70,938 shares of the company’s stock, valued at $1,340,728.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 500,095 shares of company stock valued at $8,876,548. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Grocery Outlet in the 1st quarter valued at about $25,000. Innealta Capital LLC purchased a new stake in shares of Grocery Outlet in the second quarter valued at approximately $38,000. Canada Pension Plan Investment Board acquired a new position in shares of Grocery Outlet during the 2nd quarter worth approximately $82,000. Daiwa Securities Group Inc. purchased a new position in shares of Grocery Outlet during the 1st quarter valued at approximately $127,000. Finally, Bleakley Financial Group LLC acquired a new stake in Grocery Outlet in the 1st quarter valued at $217,000. Institutional investors and hedge funds 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.