Grocery Outlet (NASDAQ:GO) Price Target Cut to $11.00 by Analysts at The Goldman Sachs Group

Grocery Outlet (NASDAQ:GO) had its price target cut by The Goldman Sachs Group from $14.00 to $11.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “sell” rating on the stock. The Goldman Sachs Group’s target price suggests a potential downside of 7.33% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft cut Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research report on Wednesday. Telsey Advisory Group lowered their target price on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a report on Wednesday. Morgan Stanley cut their price target on shares of Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a report on Wednesday. Bank of America lowered their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, UBS Group cut their target price on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Grocery Outlet has a consensus rating of “Hold” and an average price target of $15.25.

Grocery Outlet Price Performance

NASDAQ GO opened at $11.87 on Thursday. Grocery Outlet has a 12 month low of $10.26 and a 12 month high of $29.13. The firm has a market capitalization of $1.15 billion, a PE ratio of 23.27, a P/E/G ratio of 9.08 and a beta of 0.32. The company’s 50 day simple moving average is $15.95 and its 200 day simple moving average is $17.05. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33.

Insider Buying and Selling

In other Grocery Outlet news, CFO Christopher M. Miller bought 10,000 shares of the stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $11.68 per share, with a total value of $116,800.00. Following the purchase, the chief financial officer now directly owns 10,000 shares in the company, valued at $116,800. The trade was a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in shares of Grocery Outlet by 76.6% during the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares in the last quarter. Decker Retirement Planning Inc. acquired a new position in Grocery Outlet in the 4th quarter worth about $31,000. Capital Performance Advisors LLP purchased a new stake in shares of Grocery Outlet during the 3rd quarter worth about $32,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Grocery Outlet during the 4th quarter valued at about $41,000. Finally, Quadrant Capital Group LLC grew its stake in shares of Grocery Outlet by 276.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock valued at $43,000 after buying an additional 2,036 shares in the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

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.