Grocery Outlet (NASDAQ:GO) Stock Rating Upgraded by Roth Capital

Grocery Outlet (NASDAQ:GO) was upgraded by stock analysts at Roth Capital from a “hold” rating to a “strong-buy” rating in a report released on Wednesday, Zacks.com reports.

GO has been the subject of several other reports. Craig Hallum downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and cut their price objective for the stock from $32.00 to $20.00 in a research report on Wednesday, July 31st. TD Cowen cut their price objective on shares of Grocery Outlet from $43.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, May 10th. The Goldman Sachs Group cut their price objective on shares of Grocery Outlet from $24.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, May 9th. Roth Mkm cut their price objective on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Telsey Advisory Group lowered their target price on shares of Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $25.40.

Grocery Outlet Stock Down 0.7 %

Shares of NASDAQ GO traded down $0.13 during mid-day trading on Wednesday, hitting $19.60. The company had a trading volume of 2,039,150 shares, compared to its average volume of 1,749,049. The company has a market capitalization of $1.96 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 3.55 and a beta of 0.09. The firm has a 50-day simple moving average of $20.88 and a two-hundred day simple moving average of $23.94. The company has a current ratio of 1.25, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. Grocery Outlet has a one year low of $18.16 and a one year high of $35.25.

Grocery Outlet (NASDAQ:GO) last issued its 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 net margin of 1.60% and a return on equity of 5.46%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the business posted $0.23 EPS. Grocery Outlet’s revenue was up 11.7% on a year-over-year basis. On average, equities analysts expect that Grocery Outlet will post 0.69 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Luke D. Thompson sold 1,332 shares of Grocery Outlet stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $22.43, for a total transaction of $29,876.76. Following the transaction, the executive vice president now owns 32,306 shares in the company, valued at $724,623.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director John E. Bachman bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average price of $20.09 per share, for a total transaction of $200,900.00. Following the completion of the acquisition, the director now directly owns 25,872 shares in the company, valued at $519,768.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Luke D. Thompson sold 1,332 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $22.43, for a total transaction of $29,876.76. Following the completion of the transaction, the executive vice president now owns 32,306 shares in the company, valued at approximately $724,623.58. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Grocery Outlet

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Research Global Investors raised its holdings in shares of Grocery Outlet by 2.2% during the fourth quarter. Capital Research Global Investors now owns 9,342,414 shares of the company’s stock valued at $251,871,000 after purchasing an additional 199,926 shares during the period. Vanguard Group Inc. raised its holdings in shares of Grocery Outlet by 0.7% during the first quarter. Vanguard Group Inc. now owns 9,333,850 shares of the company’s stock valued at $268,628,000 after purchasing an additional 60,830 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Grocery Outlet by 4.6% during the fourth quarter. Mackenzie Financial Corp now owns 4,926,336 shares of the company’s stock valued at $132,814,000 after purchasing an additional 216,257 shares during the period. 12 West Capital Management LP raised its holdings in shares of Grocery Outlet by 383.3% during the first quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company’s stock valued at $104,328,000 after purchasing an additional 2,875,000 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Grocery Outlet by 22.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company’s stock valued at $79,933,000 after purchasing an additional 655,065 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.