Grocery Outlet’s (GO) “Market Perform” Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Grocery Outlet (NASDAQ:GO) in a report published on Thursday,Benzinga reports. The firm currently has a $18.00 price target on the stock.

GO has been the topic of several other research reports. Craig Hallum reduced their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft decreased their price target on Grocery Outlet from $29.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Roth Mkm reduced their target price on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. UBS Group decreased their target price on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Finally, Bank of America lowered shares of Grocery Outlet from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $29.00 to $17.00 in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $18.00.

Grocery Outlet Price Performance

Shares of GO opened at $16.73 on Thursday. The business has a 50-day simple moving average of $17.87 and a two-hundred day simple moving average of $18.72. Grocery Outlet has a 12-month low of $13.60 and a 12-month high of $29.19. The stock has a market cap of $1.63 billion, a PE ratio of 32.80, a PEG ratio of 4.74 and a beta of 0.25. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34.

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

Insider Buying and Selling at Grocery Outlet

In other news, Director Erik D. Ragatz acquired 110,000 shares of Grocery Outlet stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $18.25 per share, with a total value of $2,007,500.00. Following the completion of the purchase, the director now owns 539,785 shares of the company’s stock, valued at approximately $9,851,076.25. The trade was a 25.59 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Grocery Outlet

Institutional investors have recently modified their holdings of the company. Blue Trust Inc. increased 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 in the last quarter. Innealta Capital LLC acquired a new position in shares of Grocery Outlet during the second quarter valued at about $38,000. Capital Performance Advisors LLP bought a new stake in shares of Grocery Outlet during the third quarter worth about $32,000. Canada Pension Plan Investment Board acquired a new stake in shares of Grocery Outlet in the 2nd quarter worth about $82,000. Finally, True Wealth Design LLC bought a new position in Grocery Outlet in the 3rd quarter valued at about $75,000. 99.87% of the stock is owned by institutional investors and hedge funds.

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.