Grocery Outlet Holding Corp. (NASDAQ:GO) Receives $21.60 Average PT from Analysts

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have been given a consensus recommendation of “Hold” by the eleven research firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $21.60.

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

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the sale, the director now owns 70,938 shares of the company’s stock, valued at $1,340,728.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the sale, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the sale, the director now directly owns 70,938 shares in the company, valued at $1,340,728.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 500,095 shares of company stock valued at $8,876,548 in the last quarter. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Grocery Outlet in the 1st quarter valued at approximately $25,000. Blue Trust Inc. grew its stake 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 valued at $29,000 after purchasing an additional 722 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Grocery Outlet in the 2nd quarter valued at approximately $38,000. Canada Pension Plan Investment Board purchased a new position in shares of Grocery Outlet in the 2nd quarter valued at approximately $82,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Grocery Outlet in the 1st quarter valued at approximately $127,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Grocery Outlet Trading Up 2.0 %

Shares of GO stock opened at $16.77 on Friday. 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 company has a market cap of $1.64 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 3.21 and a beta of 0.10. The stock has a 50 day simple moving average of $17.10 and a 200-day simple moving average of $20.32. Grocery Outlet has a 1-year low of $15.18 and a 1-year high of $29.98.

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

About Grocery Outlet

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.