Brokerages Set Grocery Outlet Holding Corp. (NASDAQ:GO) PT at $18.00

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have been assigned a consensus rating of “Hold” from the twelve ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $18.00.

A number of equities analysts recently commented on the company. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $18.00 target price on shares of Grocery Outlet in a report on Thursday, December 19th. TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $25.00 to $16.00 in a research note on Wednesday, November 6th. Wells Fargo & Company cut their price objective on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Melius Research started coverage on shares of Grocery Outlet in a research note on Monday, September 23rd. They set a “hold” rating and a $17.00 target price on the stock. Finally, Loop Capital assumed coverage on shares of Grocery Outlet in a research report on Thursday, October 17th. They issued a “hold” rating and a $17.00 price target for the company.

Grocery Outlet Trading Up 1.1 %

Grocery Outlet stock opened at $16.50 on Wednesday. Grocery Outlet has a 52-week low of $13.60 and a 52-week high of $29.19. The company has a market cap of $1.60 billion, a P/E ratio of 32.35, a P/E/G ratio of 4.81 and a beta of 0.31. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The business has a 50-day simple moving average of $17.76 and a two-hundred day simple moving average of $18.19.

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

Insiders Place Their Bets

In other Grocery Outlet news, Director Erik D. Ragatz purchased 110,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the completion of the transaction, the director now owns 539,785 shares of the company’s stock, valued at approximately $9,851,076.25. This trade represents a 25.59 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Grocery Outlet

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CIBC Asset Management Inc bought a new position in shares of Grocery Outlet during the 2nd quarter valued at approximately $217,000. Victory Capital Management Inc. raised its stake in shares of Grocery Outlet by 1,891.8% in the second quarter. Victory Capital Management Inc. now owns 743,069 shares of the company’s stock valued at $16,437,000 after acquiring an additional 705,762 shares during the period. Arizona State Retirement System boosted its stake in shares of Grocery Outlet by 7.2% during the 2nd quarter. Arizona State Retirement System now owns 27,779 shares of the company’s stock worth $614,000 after purchasing an additional 1,862 shares during the period. Choreo LLC bought a new position in Grocery Outlet during the 2nd quarter valued at about $258,000. Finally, Headlands Technologies LLC purchased a new stake in Grocery Outlet in the 2nd quarter worth about $248,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

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.