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

Grocery Outlet Holding Corp. (NASDAQ:GO) has been given a consensus rating of “Hold” by the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $22.75.

A number of research analysts recently weighed in on GO shares. Telsey Advisory Group dropped their price objective on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Roth Capital upgraded Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Roth Mkm decreased their target price on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Craig Hallum cut Grocery Outlet from a “buy” rating to a “hold” rating and lowered their price target for the company from $32.00 to $20.00 in a report on Wednesday, July 31st. Finally, Wells Fargo & Company started coverage on Grocery Outlet in a research report on Thursday, July 18th. They issued an “overweight” rating and a $28.00 target price on the stock.

Insiders Place Their Bets

In related news, EVP Luke D. Thompson sold 1,332 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $22.43, for a total value of $29,876.76. Following the completion of the transaction, the executive vice president now owns 32,306 shares in the company, valued at approximately $724,623.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GO. Treasurer of the State of North Carolina lifted its stake in Grocery Outlet by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 42,093 shares of the company’s stock valued at $1,135,000 after acquiring an additional 410 shares during the last quarter. Versor Investments LP raised its holdings in Grocery Outlet by 1.5% during the fourth quarter. Versor Investments LP now owns 37,341 shares of the company’s stock valued at $1,007,000 after buying an additional 550 shares in the last quarter. State of Michigan Retirement System boosted its stake 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 acquiring an additional 600 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Grocery Outlet by 2.5% during the 1st quarter. Louisiana State Employees Retirement System now owns 28,600 shares of the company’s stock valued at $823,000 after acquiring an additional 700 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Grocery Outlet in the 1st quarter worth approximately $25,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Grocery Outlet Stock Down 1.7 %

GO opened at $18.84 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.30 and a current ratio of 1.25. Grocery Outlet has a one year low of $18.16 and a one year high of $34.36. The business’s 50-day simple moving average is $20.64 and its 200-day simple moving average is $23.73. The stock has a market capitalization of $1.88 billion, a P/E ratio of 29.44, a price-to-earnings-growth ratio of 3.55 and a beta of 0.09.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. Grocery Outlet had a return on equity of 5.46% and a net margin of 1.60%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the business earned $0.23 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Analysts anticipate that Grocery Outlet will post 0.69 EPS for the current year.

About Grocery Outlet

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.