Grocery Outlet (NASDAQ:GO) Earns Outperform Rating from Telsey Advisory Group

Grocery Outlet (NASDAQ:GOGet Free Report)‘s stock had its “outperform” rating reissued by Telsey Advisory Group in a report released on Tuesday, MarketBeat.com reports. They presently have a $27.00 price objective on the stock. Telsey Advisory Group’s target price points to a potential upside of 94.24% from the stock’s current price.

GO has been the topic of several other reports. Roth Mkm dropped their price objective on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Melius Research assumed coverage on shares of Grocery Outlet in a report on Monday, September 23rd. They set a “hold” rating and a $17.00 price objective on the stock. Loop Capital started coverage on shares of Grocery Outlet in a research report on Thursday, October 17th. They set a “hold” rating and a $17.00 price target for the company. Roth Capital upgraded Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, UBS Group decreased their target price on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.27.

Read Our Latest Stock Analysis on GO

Grocery Outlet Stock Down 16.3 %

Shares of GO opened at $13.90 on Tuesday. The stock’s 50-day moving average price is $16.93 and its 200-day moving average price is $20.13. 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 company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 3.21 and a beta of 0.10. Grocery Outlet has a 52 week low of $13.60 and a 52 week high of $29.98.

Grocery Outlet (NASDAQ:GOGet Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the company earned $0.23 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, sell-side analysts predict that Grocery Outlet will post 0.68 EPS for the current year.

Insider Activity

In related news, 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 completion of the sale, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,340,728.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 70,938 shares in the company, valued at $1,340,728.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the sale, the director now directly owns 70,938 shares of the company’s stock, valued at $1,155,580.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 500,095 shares of company stock valued at $8,876,548. 4.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Grocery Outlet

Several large investors have recently added to or reduced their stakes in GO. Allspring Global Investments Holdings LLC purchased a new position in shares of Grocery Outlet in the 1st quarter valued at about $25,000. State of Michigan Retirement System lifted its position in shares of Grocery Outlet by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 24,380 shares of the company’s stock worth $702,000 after purchasing an additional 600 shares during the last quarter. Norden Group LLC acquired a new position in shares of Grocery Outlet during the first quarter worth $442,000. Oak Ridge Investments LLC increased its holdings in Grocery Outlet by 1.2% in the first quarter. Oak Ridge Investments LLC now owns 73,820 shares of the company’s stock valued at $2,125,000 after buying an additional 876 shares during the last quarter. Finally, Capstone Investment Advisors LLC raised its stake in Grocery Outlet by 161.1% in the first quarter. Capstone Investment Advisors LLC now owns 93,188 shares of the company’s stock valued at $2,682,000 after buying an additional 57,496 shares in the last quarter. 99.87% of the stock is owned by hedge funds and other institutional investors.

Grocery Outlet Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Grocery Outlet (NASDAQ:GO)

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