Grocery Outlet (NASDAQ:GO) Reaches New 12-Month Low After Analyst Downgrade

Grocery Outlet Holding Corp. (NASDAQ:GO)’s stock price hit a new 52-week low during trading on Wednesday after Telsey Advisory Group lowered their price target on the stock from $37.00 to $31.00. Telsey Advisory Group currently has an outperform rating on the stock. Grocery Outlet traded as low as $22.04 and last traded at $22.04, with a volume of 6183 shares. The stock had previously closed at $25.90.

A number of other equities research analysts have also commented on GO. UBS Group dropped their price target on Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.78.

Insider Buying and Selling

In other Grocery Outlet news, Director Thomas F. Herman sold 1,000 shares of Grocery Outlet stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total transaction of $29,000.00. Following the transaction, the director now owns 10,400 shares of the company’s stock, valued at approximately $301,600. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Thomas F. Herman sold 1,000 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $29.00, for a total value of $29,000.00. Following the completion of the transaction, the director now directly owns 10,400 shares of the company’s stock, valued at $301,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric J. Jr. Lindberg sold 300,000 shares of Grocery Outlet stock in a transaction on Friday, March 1st. The shares were sold at an average price of $26.16, for a total value of $7,848,000.00. Following the sale, the director now directly owns 107,123 shares of the company’s stock, valued at approximately $2,802,337.68. The disclosure for this sale can be found here. Insiders have sold 506,588 shares of company stock worth $13,367,577 in the last quarter. Insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Grocery Outlet in the 1st quarter worth approximately $25,000. Acadian Asset Management LLC purchased a new stake in shares of Grocery Outlet in the 3rd quarter worth about $113,000. Daiwa Securities Group Inc. bought a new stake in shares of Grocery Outlet during the 1st quarter valued at about $127,000. Headlands Technologies LLC lifted its holdings in Grocery Outlet by 32,200.0% in the fourth quarter. Headlands Technologies LLC now owns 4,845 shares of the company’s stock worth $131,000 after buying an additional 4,830 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of Grocery Outlet during the 4th quarter worth approximately $193,000. 99.87% of the stock is owned by institutional investors.

Grocery Outlet Price Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.43 and a current ratio of 1.35. The stock has a market cap of $2.15 billion, a P/E ratio of 32.78, a price-to-earnings-growth ratio of 2.47 and a beta of 0.13. The firm has a 50-day moving average price of $26.95 and a 200-day moving average price of $27.09.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $989.82 million for the quarter, compared to analysts’ expectations of $982.44 million. Grocery Outlet had a return on equity of 7.17% and a net margin of 2.00%. On average, analysts forecast that Grocery Outlet Holding Corp. will post 0.95 earnings per share for the current fiscal year.

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.