Grocery Outlet (NASDAQ:GO) Price Target Lowered to $20.00 at Roth Mkm

Grocery Outlet (NASDAQ:GO) had its price target cut by investment analysts at Roth Mkm from $22.00 to $20.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Roth Mkm’s price objective indicates a potential upside of 2.25% from the company’s current price.

A number of other research firms have also issued reports on GO. Wells Fargo & Company started coverage on Grocery Outlet in a report on Thursday, July 18th. They set an “overweight” rating and a $28.00 price target on the stock. TD Cowen lowered their price objective on Grocery Outlet from $43.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, May 10th. UBS Group lowered their price objective on Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Craig Hallum lowered Grocery Outlet from a “buy” rating to a “hold” rating and lowered their price objective for the company from $32.00 to $20.00 in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group lowered their price objective on Grocery Outlet from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, May 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.40.

Grocery Outlet Stock Up 5.5 %

NASDAQ:GO traded up $1.02 during trading hours on Wednesday, hitting $19.56. The company’s stock had a trading volume of 3,681,066 shares, compared to its average volume of 1,730,251. The stock has a market capitalization of $1.95 billion, a P/E ratio of 31.11, a price-to-earnings-growth ratio of 3.55 and a beta of 0.09. The stock has a fifty day moving average of $20.95 and a 200-day moving average of $24.00. 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 52-week low of $18.16 and a 52-week high of $36.54.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data 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 company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the firm posted $0.23 earnings per share. Grocery Outlet’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities analysts forecast that Grocery Outlet will post 0.69 earnings per share for the current year.

Insider Activity

In related news, EVP Luke D. Thompson sold 1,332 shares of the company’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 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 filing with the SEC, which can be accessed through the SEC website. In related news, EVP Luke D. Thompson sold 1,332 shares of the company’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 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Erik D. Ragatz purchased 100,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average cost of $20.91 per share, with a total value of $2,091,000.00. Following the completion of the transaction, the director now owns 429,785 shares in the company, valued at approximately $8,986,804.35. The disclosure for this purchase can be found here. Corporate 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 company. Boulder Hill Capital Management LP acquired a new stake in shares of Grocery Outlet in the 4th quarter valued at about $2,038,000. Charles Schwab Investment Management Inc. raised its stake in shares of Grocery Outlet by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 879,116 shares of the company’s stock valued at $23,701,000 after purchasing an additional 38,506 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of Grocery Outlet by 4.8% in the 4th quarter. WCM Investment Management LLC now owns 946,674 shares of the company’s stock valued at $25,532,000 after purchasing an additional 43,352 shares in the last quarter. Capstone Investment Advisors LLC raised its stake in shares of Grocery Outlet by 161.1% in the 1st quarter. Capstone Investment Advisors LLC now owns 93,188 shares of the company’s stock valued at $2,682,000 after purchasing an additional 57,496 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in Grocery Outlet by 4.6% during the fourth quarter. Mackenzie Financial Corp now owns 4,926,336 shares of the company’s stock worth $132,814,000 after acquiring an additional 216,257 shares during the period. Institutional investors and hedge funds 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.