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

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

GO has been the topic of several recent research reports. Melius Research initiated coverage on Grocery Outlet in a report on Monday, September 23rd. They set a “hold” rating and a $17.00 target price on the stock. Wells Fargo & Company lowered their price target on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Bank of America downgraded Grocery Outlet from a “buy” rating to a “neutral” rating and lowered their price target for the company from $29.00 to $17.00 in a research report on Wednesday, October 30th. Craig Hallum lowered their price target on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Finally, Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th.

Insiders Place Their Bets

In other news, Director Erik D. Ragatz bought 110,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $18.25 per share, with a total value of $2,007,500.00. Following the acquisition, the director now owns 539,785 shares in the company, valued at $9,851,076.25. This trade represents a 25.59 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 70,938 shares in the company, valued at approximately $1,155,580.02. The trade was a 73.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GO. Allspring Global Investments Holdings LLC bought a new position in Grocery Outlet in the 1st quarter valued at about $25,000. Blue Trust Inc. grew its position in shares of Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Grocery Outlet during the 3rd quarter worth approximately $32,000. Innealta Capital LLC acquired a new position in shares of Grocery Outlet during the 2nd quarter worth approximately $38,000. Finally, True Wealth Design LLC acquired a new position in shares of Grocery Outlet during the 3rd quarter worth approximately $75,000. 99.87% of the stock is owned by institutional investors.

Grocery Outlet Stock Performance

Shares of NASDAQ GO opened at $19.54 on Tuesday. The stock has a fifty day moving average price of $16.82 and a two-hundred day moving average price of $19.06. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The firm has a market cap of $1.90 billion, a P/E ratio of 38.31, a PEG ratio of 4.69 and a beta of 0.13. Grocery Outlet has a 1 year low of $13.60 and a 1 year high of $29.80.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same period last year, the company posted $0.25 EPS. Research analysts forecast that Grocery Outlet will post 0.63 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.