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

Grocery Outlet Holding Corp. (NASDAQ:GO) has been given a consensus rating of “Hold” by the fourteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $15.62.

GO has been the topic of several recent research reports. Morgan Stanley lowered their target price on shares of Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company raised their target price on shares of Grocery Outlet from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Bank of America lowered their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $16.00 target price on shares of Grocery Outlet in a report on Wednesday, April 30th. Finally, UBS Group raised their target price on shares of Grocery Outlet from $14.50 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th.

Grocery Outlet Trading Down 2.4%

Shares of NASDAQ:GO opened at $13.30 on Friday. The company has a 50-day simple moving average of $14.49 and a 200 day simple moving average of $15.34. 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 company has a market capitalization of $1.30 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 9.08 and a beta of 0.32. Grocery Outlet has a 52-week low of $10.26 and a 52-week high of $22.55.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.06. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $0.09 earnings per share. Sell-side analysts forecast that Grocery Outlet will post 0.63 earnings per share for the current year.

Insider Activity at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz purchased 19,000 shares of the business’s stock in a transaction dated Friday, May 9th. The shares were bought at an average price of $14.46 per share, for a total transaction of $274,740.00. Following the completion of the acquisition, the director now owns 19,000 shares in the company, valued at approximately $274,740. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Grocery Outlet

A number of hedge funds have recently modified their holdings of the business. Aster Capital Management DIFC Ltd acquired a new position in Grocery Outlet in the fourth quarter valued at $41,000. US Bancorp DE lifted its holdings in Grocery Outlet by 64.2% in the first quarter. US Bancorp DE now owns 3,024 shares of the company’s stock valued at $42,000 after buying an additional 1,182 shares during the period. Quadrant Capital Group LLC lifted its holdings in Grocery Outlet by 276.3% in the fourth 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 during the period. KBC Group NV lifted its holdings in Grocery Outlet by 62.7% in the fourth quarter. KBC Group NV now owns 4,506 shares of the company’s stock valued at $70,000 after buying an additional 1,736 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Grocery Outlet by 236.0% in the first quarter. GAMMA Investing LLC now owns 5,188 shares of the company’s stock valued at $73,000 after buying an additional 3,644 shares during the period. Institutional investors and hedge funds own 99.87% of the company’s stock.

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.