Telsey Advisory Group Reaffirms “Outperform” Rating for Grocery Outlet (NASDAQ:GO)

Telsey Advisory Group reaffirmed their outperform rating on shares of Grocery Outlet (NASDAQ:GO) in a report released on Tuesday, Marketbeat.com reports. They currently have a $27.00 price objective on the stock. Telsey Advisory Group also issued estimates for Grocery Outlet’s Q3 2024 earnings at $0.21 EPS, Q4 2024 earnings at $0.18 EPS, FY2024 earnings at $0.62 EPS, Q2 2025 earnings at $0.22 EPS, Q3 2025 earnings at $0.22 EPS, Q4 2025 earnings at $0.18 EPS and FY2025 earnings at $0.76 EPS.

Several other analysts also recently commented on the company. Craig Hallum downgraded Grocery Outlet from a “buy” rating to a “hold” rating and reduced their target price for the company from $32.00 to $20.00 in a research note on Wednesday, July 31st. Roth Mkm decreased 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. UBS Group decreased their target price on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Loop Capital began coverage on shares of Grocery Outlet in a research report on Thursday, October 17th. They set a “hold” rating and a $17.00 price objective on the stock. Finally, Melius Research initiated coverage on shares of Grocery Outlet in a research report on Monday, September 23rd. They set a “hold” rating and a $17.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $19.73.

Grocery Outlet Price Performance

NASDAQ:GO opened at $15.05 on Tuesday. The firm has a fifty day simple moving average of $16.81 and a 200 day simple moving average of $20.01. The company has a current ratio of 1.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $1.47 billion, a PE ratio of 27.87, a P/E/G ratio of 2.67 and a beta of 0.10. Grocery Outlet has a 1-year low of $13.60 and a 1-year high of $29.98.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating 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 previous year, the company posted $0.23 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. On average, research analysts expect that Grocery Outlet will post 0.68 EPS for the current fiscal year.

Insider Activity at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $1,340,728.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the transaction, the director now directly owns 70,938 shares of the company’s stock, valued at $1,155,580.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’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 completion of the sale, the director now directly owns 70,938 shares of the company’s stock, valued at $1,340,728.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 500,095 shares of company stock worth $8,876,548 over the last 90 days. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GO. State of Michigan Retirement System increased its stake in shares of Grocery Outlet by 2.5% in the first quarter. State of Michigan Retirement System now owns 24,380 shares of the company’s stock valued at $702,000 after purchasing an additional 600 shares during the period. Blue Trust Inc. raised its stake in Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Grocery Outlet during the 1st quarter worth $25,000. Oak Ridge Investments LLC grew its stake in shares of Grocery Outlet by 1.2% in the first quarter. Oak Ridge Investments LLC now owns 73,820 shares of the company’s stock worth $2,125,000 after purchasing an additional 876 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its holdings in shares of Grocery Outlet by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 86,879 shares of the company’s stock valued at $2,500,000 after purchasing an additional 1,126 shares during the period. 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.