Grocery Outlet Holding Corp. (NASDAQ:GO) Given Average Rating of “Hold” by Brokerages

Grocery Outlet Holding Corp. (NASDAQ:GO) has earned an average rating of “Hold” from the twelve brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $18.00.

Several equities research analysts have weighed in on the company. Loop Capital initiated coverage on Grocery Outlet in a report on Thursday, October 17th. They issued a “hold” rating and a $17.00 price objective for the company. UBS Group cut their price target on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Telsey Advisory Group decreased their price objective on shares of Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Roth Mkm lowered their price objective on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th.

Insider Activity at Grocery Outlet

In related news, Director Erik D. Ragatz bought 110,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average cost of $18.25 per share, with a total value of $2,007,500.00. Following the acquisition, the director now owns 539,785 shares in the company, valued at $9,851,076.25. This trade represents a 25.59 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Grocery Outlet

Large investors have recently made changes to their positions in the business. Blue Trust Inc. raised its stake in 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 period. Capital Performance Advisors LLP bought a new stake in shares of Grocery Outlet during the third quarter valued at approximately $32,000. Innealta Capital LLC purchased a new stake in Grocery Outlet in the 2nd quarter worth $38,000. True Wealth Design LLC bought a new position in shares of Grocery Outlet during the 3rd quarter valued at about $75,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Grocery Outlet during the second quarter valued at about $82,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Grocery Outlet Price Performance

Shares of NASDAQ:GO opened at $16.54 on Friday. Grocery Outlet has a one year low of $13.60 and a one year high of $29.19. The company’s fifty day moving average price is $17.84 and its 200-day moving average price is $18.77. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 32.43, a PEG ratio of 4.74 and a beta of 0.25. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33.

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