Grocery Outlet (NASDAQ:GO) Given New $16.00 Price Target at Roth Mkm

Grocery Outlet (NASDAQ:GO) had its price objective cut by Roth Mkm from $20.00 to $16.00 in a report published on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

GO has been the topic of a number of other reports. Craig Hallum dropped their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday. TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and decreased their target price for the stock from $25.00 to $16.00 in a research report on Wednesday. Telsey Advisory Group dropped their price target on Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Wednesday. Loop Capital assumed 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. Finally, Roth Capital upgraded Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $18.00.

Grocery Outlet Price Performance

Grocery Outlet stock opened at $17.80 on Wednesday. The stock has a market cap of $1.74 billion, a P/E ratio of 34.90, a P/E/G ratio of 3.92 and a beta of 0.13. The company has a quick ratio of 0.29, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average price is $16.55 and its two-hundred day moving average price is $19.58. Grocery Outlet has a 52 week low of $13.60 and a 52 week high of $29.98.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The business’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share. On average, equities analysts predict that Grocery Outlet will post 0.65 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the completion of the sale, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $18.90, for a total value of $1,890,000.00. Following the transaction, the director now owns 70,938 shares of the company’s stock, valued at $1,340,728.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 500,095 shares of company stock worth $8,876,548 in the last three months. 4.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Grocery Outlet

A number of large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in Grocery Outlet during the first quarter valued at approximately $25,000. Blue Trust Inc. grew its holdings in shares of Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Grocery Outlet during the 2nd quarter valued at $38,000. Capital Performance Advisors LLP bought a new stake in Grocery Outlet in the third quarter worth $32,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Grocery Outlet during the second quarter valued at about $82,000. Hedge funds and other 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.