Grocery Outlet (NASDAQ:GO) Price Target Cut to $15.00 by Analysts at The Goldman Sachs Group

Grocery Outlet (NASDAQ:GO) had its price target decreased by research analysts at The Goldman Sachs Group from $17.00 to $15.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 1.21% from the company’s previous close.

A number of other equities research analysts also recently weighed in on GO. Loop Capital started coverage on Grocery Outlet in a research note on Thursday, October 17th. They set a “hold” rating and a $17.00 price target for the company. Craig Hallum lowered Grocery Outlet from a “buy” rating to a “hold” rating and cut their target price for the company from $32.00 to $20.00 in a research note on Wednesday, July 31st. Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Wells Fargo & Company lowered their target price on Grocery Outlet from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Roth Mkm dropped their target price on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.73.

Grocery Outlet Stock Up 3.6 %

NASDAQ GO traded up $0.52 on Friday, hitting $14.82. 1,398,958 shares of the stock traded hands, compared to its average volume of 1,788,868. The company has a current ratio of 1.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.31. Grocery Outlet has a twelve month low of $13.60 and a twelve month high of $29.98. The stock has a 50-day moving average of $16.86 and a 200 day moving average of $20.09. The company has a market capitalization of $1.45 billion, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 2.67 and a beta of 0.10.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 earnings per share. As a group, analysts expect that Grocery Outlet will post 0.68 earnings per share for the current fiscal year.

Insider Activity at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $18.83, for a total value of $1,883,000.00. Following the completion of the sale, the director now owns 70,938 shares in the company, valued at approximately $1,335,762.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $18.83, for a total value of $1,883,000.00. Following the completion of the transaction, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,335,762.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s 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 transaction, the director now directly owns 70,938 shares of the company’s stock, valued at $1,155,580.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 500,095 shares of company stock worth $8,876,548 in the last ninety days. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Grocery Outlet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GO. Allspring Global Investments Holdings LLC bought a new position in Grocery Outlet in the 1st quarter worth approximately $25,000. Blue Trust Inc. grew its stake in Grocery Outlet by 76.6% during the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares in the last quarter. Innealta Capital LLC bought a new stake in Grocery Outlet in the 2nd quarter valued at $38,000. Capital Performance Advisors LLP bought a new position in shares of Grocery Outlet during the 3rd quarter valued at about $32,000. 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 owned by institutional investors.

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.