Grocery Outlet (NASDAQ:GO) Price Target Lowered to $17.00 at Bank of America

Grocery Outlet (NASDAQ:GO) had its price target cut by Bank of America from $20.00 to $17.00 in a research note released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts also recently commented on GO. Craig Hallum dropped their price objective on 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 lowered Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a research note on Wednesday. TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and cut their price target for the stock from $25.00 to $16.00 in a research note on Wednesday, November 6th. 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. Finally, Wells Fargo & Company cut their target price on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $15.58.

Grocery Outlet Stock Performance

Shares of GO stock opened at $10.99 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 9.08 and a beta of 0.32. Grocery Outlet has a 52 week low of $10.26 and a 52 week high of $29.19. The firm’s 50-day simple moving average is $16.14 and its two-hundred day simple moving average is $17.14.

Institutional Trading of Grocery Outlet

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

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.