Brokerages Set Grocery Outlet Holding Corp. (NASDAQ:GO) PT at $18.00

Grocery Outlet Holding Corp. (NASDAQ:GO) has earned an average recommendation of “Hold” from the twelve brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $18.00.

Several research firms recently weighed in on GO. Bank of America downgraded shares of Grocery Outlet from a “buy” rating to a “neutral” rating and dropped their target price for the company from $29.00 to $17.00 in a report on Wednesday, October 30th. The Goldman Sachs Group dropped their price objective on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a research note on Friday, November 1st. Roth Mkm decreased their target price on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Melius Research assumed coverage on 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, Telsey Advisory Group reissued a “market perform” rating and set a $18.00 price target on shares of Grocery Outlet in a research report on Thursday, December 19th.

Insider Buying and Selling

In other Grocery Outlet news, Director Erik D. Ragatz bought 110,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $18.25 per share, with a total value of $2,007,500.00. Following the transaction, the director now owns 539,785 shares of the company’s stock, valued at approximately $9,851,076.25. The trade was a 25.59 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Grocery Outlet

Hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Grocery Outlet by 2.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 46,875 shares of the company’s stock worth $732,000 after purchasing an additional 1,240 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Grocery Outlet by 1.8% in the 3rd quarter. Franklin Resources Inc. now owns 29,987 shares of the company’s stock valued at $526,000 after purchasing an additional 529 shares during the period. Sanctuary Advisors LLC purchased a new position in Grocery Outlet during the 3rd quarter worth approximately $360,000. Barclays PLC increased its position in Grocery Outlet by 1,224.1% during the third quarter. Barclays PLC now owns 300,393 shares of the company’s stock worth $5,271,000 after buying an additional 277,706 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Grocery Outlet in the third quarter valued at approximately $511,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Grocery Outlet Price Performance

Shares of GO stock opened at $16.50 on Wednesday. The firm’s 50-day moving average is $17.76 and its two-hundred day moving average is $18.14. Grocery Outlet has a 12 month low of $13.60 and a 12 month high of $29.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The company has a market capitalization of $1.60 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 4.81 and a beta of 0.31.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. Analysts predict that Grocery Outlet will post 0.63 earnings per share for the current year.

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.