Grocery Outlet (NASDAQ:GO) Price Target Lowered to $16.00 at UBS Group

Grocery Outlet (NASDAQ:GO) had its price objective lowered by UBS Group from $21.00 to $16.00 in a research report released on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities research analysts have also weighed in on GO. Wells Fargo & Company cut their target price on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday. Bank of America downgraded shares of Grocery Outlet from a “buy” rating to a “neutral” rating and decreased their target price for the company from $29.00 to $17.00 in a research report on Wednesday, October 30th. Craig Hallum decreased their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a research report on Wednesday. Melius Research assumed coverage on shares of Grocery Outlet in a research report on Monday, September 23rd. They issued a “hold” rating and a $17.00 target price for the company. Finally, TD Cowen downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and decreased their target price for the company from $25.00 to $16.00 in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.17.

Grocery Outlet Trading Up 3.4 %

NASDAQ GO traded up $0.55 during trading hours on Wednesday, hitting $16.66. The company’s stock had a trading volume of 122,833 shares, compared to its average volume of 1,812,992. The stock has a fifty day moving average of $16.66 and a 200 day moving average of $19.75. The company has a quick ratio of 0.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $1.63 billion, a P/E ratio of 31.59, a PEG ratio of 3.42 and a beta of 0.13. Grocery Outlet has a twelve month low of $13.60 and a twelve month high of $29.98.

Grocery Outlet (NASDAQ:GO) last posted its earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the business posted $0.25 earnings per share. Equities research analysts forecast that Grocery Outlet will post 0.66 earnings per share for the current fiscal year.

Insider Transactions at Grocery Outlet

In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the completion of the sale, the director now owns 70,938 shares in the company, valued at approximately $1,155,580.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the completion of the sale, the director now owns 70,938 shares in the company, valued at approximately $1,155,580.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the sale, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,340,728.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 500,095 shares of company stock worth $8,876,548. 4.50% of the stock is owned by insiders.

Institutional Trading of Grocery Outlet

Several hedge funds and other institutional investors have recently bought and sold shares of GO. Allspring Global Investments Holdings LLC acquired a new stake in Grocery Outlet in the 1st quarter worth about $25,000. Blue Trust Inc. grew its holdings in shares of Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Grocery Outlet during the 3rd quarter valued at approximately $32,000. Innealta Capital LLC bought a new stake in shares of Grocery Outlet during the 2nd quarter valued at approximately $38,000. Finally, Canada Pension Plan Investment Board bought a new stake in Grocery Outlet during the 2nd quarter worth approximately $82,000. 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.