Analysts Set Grocery Outlet Holding Corp. (NASDAQ:GO) Price Target at $22.75

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have earned an average rating of “Hold” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $22.75.

Several brokerages recently issued reports on GO. Craig Hallum lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and cut their target price for the stock from $32.00 to $20.00 in a research note on Wednesday, July 31st. Roth Capital raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. TD Cowen decreased their target price on Grocery Outlet from $43.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Roth Mkm cut their price target on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group decreased their price objective on Grocery Outlet from $24.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, May 9th.

Grocery Outlet Stock Performance

Shares of Grocery Outlet stock opened at $18.86 on Friday. The company has a market cap of $1.88 billion, a P/E ratio of 29.47, a PEG ratio of 3.55 and a beta of 0.09. The company has a current ratio of 1.25, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $20.60 and a two-hundred day moving average price of $23.67. Grocery Outlet has a 1-year low of $18.16 and a 1-year high of $34.09.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a return on equity of 5.46% and a net margin of 1.60%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share. As a group, analysts anticipate that Grocery Outlet will post 0.69 EPS for the current year.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, EVP Luke D. Thompson sold 1,332 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $22.43, for a total value of $29,876.76. Following the completion of the sale, the executive vice president now directly owns 32,306 shares of the company’s stock, valued at approximately $724,623.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Grocery Outlet

Institutional investors have recently added to or reduced their stakes in the stock. Lighthouse Investment Partners LLC grew its position in shares of Grocery Outlet by 54.0% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 300,000 shares of the company’s stock valued at $6,636,000 after acquiring an additional 105,160 shares during the period. Millennium Management LLC grew its holdings in Grocery Outlet by 677.6% during the second quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock valued at $43,832,000 after purchasing an additional 1,726,741 shares during the period. Solel Partners LP purchased a new stake in Grocery Outlet in the second quarter worth $35,980,000. Providence Capital Advisors LLC raised its stake in shares of Grocery Outlet by 80.9% in the second quarter. Providence Capital Advisors LLC now owns 285,803 shares of the company’s stock valued at $6,322,000 after buying an additional 127,812 shares during the period. Finally, Public Sector Pension Investment Board purchased a new position in shares of Grocery Outlet during the 2nd quarter valued at $4,861,000. Institutional investors own 99.87% of the company’s stock.

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.