Deutsche Bank Aktiengesellschaft Downgrades Grocery Outlet (NASDAQ:GO) to Hold

Grocery Outlet (NASDAQ:GO) was downgraded by investment analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a research note issued on Wednesday,Briefing.com Automated Import reports. They presently have a $12.00 target price on the stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential downside of 23.76% from the company’s previous close.

Several other research firms have also recently weighed in on GO. Roth Mkm cut their price objective on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Telsey Advisory Group restated a “market perform” rating and issued a $18.00 target price on shares of Grocery Outlet in a research note on Wednesday, January 22nd. UBS Group lowered their price objective on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Wells Fargo & Company decreased their price target on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. Finally, Craig Hallum lowered their price target on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Grocery Outlet currently has an average rating of “Hold” and a consensus price target of $16.73.

Grocery Outlet Trading Down 0.4 %

Shares of GO stock opened at $15.74 on Wednesday. The business’s 50 day moving average is $16.26 and its two-hundred day moving average is $17.18. 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 has a 12 month low of $13.60 and a 12 month high of $29.19. The company has a market cap of $1.53 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 9.08 and a beta of 0.32.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Barclays PLC lifted its stake in Grocery Outlet by 1,224.1% in the third quarter. Barclays PLC now owns 300,393 shares of the company’s stock valued at $5,271,000 after buying an additional 277,706 shares during the period. Jane Street Group LLC raised its stake in shares of Grocery Outlet by 357.7% in the 3rd quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock valued at $9,118,000 after purchasing an additional 406,039 shares during the period. Choreo LLC bought a new position in shares of Grocery Outlet during the fourth quarter worth about $245,000. Cerity Partners LLC grew its stake in shares of Grocery Outlet by 887.1% during the 3rd quarter. Cerity Partners LLC now owns 105,675 shares of the company’s stock worth $1,855,000 after acquiring an additional 94,969 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Grocery Outlet in the 3rd quarter valued at $511,000. 99.87% of the stock is currently owned by institutional investors.

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.