Grocery Outlet Holding Corp. (NASDAQ:GO – Get Free Report) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 7,270,000 shares, a drop of 5.3% from the October 15th total of 7,680,000 shares. Based on an average daily trading volume, of 1,050,000 shares, the days-to-cover ratio is currently 6.9 days. Approximately 8.0% of the company’s stock are short sold.
Grocery Outlet Stock Performance
NASDAQ GO opened at $28.01 on Friday. The company’s 50 day moving average is $28.25 and its 200-day moving average is $30.09. Grocery Outlet has a 12-month low of $25.71 and a 12-month high of $36.54. The company has a quick ratio of 0.54, a current ratio of 1.34 and a debt-to-equity ratio of 0.24. The firm has a market cap of $2.78 billion, a P/E ratio of 34.58, a price-to-earnings-growth ratio of 2.99 and a beta of 0.08.
In related news, Director Thomas F. Herman sold 2,000 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $27.69, for a total transaction of $55,380.00. Following the transaction, the director now directly owns 17,400 shares in the company, valued at $481,806. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 6,000 shares of company stock worth $175,000 over the last three months. 6.20% of the stock is currently owned by insiders.
Institutional Trading of Grocery Outlet
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on GO shares. The Goldman Sachs Group cut their price target on shares of Grocery Outlet from $38.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, October 10th. Telsey Advisory Group reiterated an “outperform” rating and issued a $40.00 target price on shares of Grocery Outlet in a research note on Friday, September 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Grocery Outlet from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. UBS Group boosted their target price on shares of Grocery Outlet from $29.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 9th. Finally, TheStreet cut shares of Grocery Outlet from a “b-” rating to a “c+” rating in a research note on Wednesday, October 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $33.38.
About Grocery Outlet
Grocery Outlet Holding Corp. engages in ownership and operation of a network of independently operated stores in the United States. The company's stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine.
- Five stocks we like better than Grocery Outlet
- Profitably Trade Stocks at 52-Week Highs
- MarketBeat Week in Review – 11/13 – 11/17
- Investing in Construction Stocks
- 3 large caps with red hot RSIs with upside
- Crypto vs Stocks: How to Choose Your Investments
- Johnson Controls International: Nothing but upside for investors
Receive News & Ratings for Grocery Outlet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Grocery Outlet and related companies with MarketBeat.com's FREE daily email newsletter.