Analysts Set Grocery Outlet Holding Corp. (NASDAQ:GO) Target Price at $28.90

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have received a consensus recommendation of “Hold” from the eleven brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $28.82.

Several equities analysts have commented on GO shares. Roth Mkm dropped their price target on shares of Grocery Outlet from $27.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. The Goldman Sachs Group dropped their price target on shares of Grocery Outlet from $24.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, May 9th. UBS Group dropped their price target on shares of Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Telsey Advisory Group dropped their price target on shares of Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. Finally, TD Cowen dropped their price target on shares of Grocery Outlet from $43.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, May 10th.

Grocery Outlet Stock Up 1.1 %

GO stock opened at $21.57 on Wednesday. The company’s 50 day moving average price is $21.50 and its 200 day moving average price is $24.60. 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 fifty-two week low of $19.73 and a fifty-two week high of $36.54. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 3.98 and a beta of 0.09.

Grocery Outlet (NASDAQ:GO) last released its earnings results on Tuesday, May 7th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). Grocery Outlet had a return on equity of 5.46% and a net margin of 1.60%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. On average, equities research analysts anticipate that Grocery Outlet will post 0.69 EPS for the current fiscal year.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, Director John E. Bachman bought 10,000 shares of the stock in a transaction dated Tuesday, May 14th. The shares were acquired at an average cost of $20.09 per share, for a total transaction of $200,900.00. Following the completion of the transaction, the director now owns 25,872 shares in the company, valued at approximately $519,768.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director John E. Bachman purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average cost of $20.09 per share, with a total value of $200,900.00. Following the completion of the acquisition, the director now directly owns 25,872 shares in the company, valued at $519,768.48. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 sale, the executive vice president now directly owns 32,306 shares of the company’s stock, valued at $724,623.58. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

Several hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in Grocery Outlet in the first quarter valued at $25,000. Daiwa Securities Group Inc. acquired a new position in shares of Grocery Outlet during the 1st quarter worth $127,000. Headlands Technologies LLC raised its stake in shares of Grocery Outlet by 32,200.0% during the 4th 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 last quarter. Quest Partners LLC acquired a new position in shares of Grocery Outlet during the 4th quarter worth $193,000. Finally, Simplicity Wealth LLC acquired a new position in shares of Grocery Outlet during the 1st quarter worth $217,000. 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.