Grocery Outlet (NASDAQ:GO) Trading 4.2% Higher – Time to Buy?

Grocery Outlet Holding Corp. (NASDAQ:GO) was up 4.2% during mid-day trading on Tuesday . The stock traded as high as $15.78 and last traded at $15.68. Approximately 327,562 shares were traded during trading, a decline of 82% from the average daily volume of 1,816,119 shares. The stock had previously closed at $15.05.

Wall Street Analysts Forecast Growth

GO has been the subject of a number of analyst reports. UBS Group decreased their price objective on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Roth Mkm lowered their price target on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Melius Research initiated coverage on Grocery Outlet in a research report on Monday, September 23rd. They issued a “hold” rating and a $17.00 price objective for the company. Craig Hallum decreased their target price on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group dropped their price target on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. 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 company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $18.00.

Grocery Outlet Trading Up 5.2 %

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The business’s 50-day moving average is $17.77 and its 200 day moving average is $18.50. The firm has a market capitalization of $1.54 billion, a P/E ratio of 31.06, a price-to-earnings-growth ratio of 4.74 and a beta of 0.25.

Grocery Outlet (NASDAQ:GO) last announced its earnings results on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the firm earned $0.25 earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling at Grocery Outlet

In other news, Director Erik D. Ragatz purchased 110,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $18.25 per share, with a total value of $2,007,500.00. Following the acquisition, the director now owns 539,785 shares in the company, valued at approximately $9,851,076.25. The trade was a 25.59 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

Several institutional investors and hedge funds have recently added to or reduced their stakes in GO. Raymond James & Associates boosted its stake in shares of Grocery Outlet by 48.0% in the 2nd quarter. Raymond James & Associates now owns 82,730 shares of the company’s stock valued at $1,830,000 after purchasing an additional 26,828 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Grocery Outlet by 21.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,995 shares of the company’s stock worth $376,000 after buying an additional 3,050 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Grocery Outlet by 31.2% in the 2nd quarter. Principal Financial Group Inc. now owns 490,110 shares of the company’s stock valued at $10,841,000 after acquiring an additional 116,686 shares during the last quarter. Maryland State Retirement & Pension System acquired a new stake in shares of Grocery Outlet during the 2nd quarter valued at $902,000. Finally, Equitable Trust Co. boosted its holdings in shares of Grocery Outlet by 36.6% during the 2nd quarter. Equitable Trust Co. now owns 24,675 shares of the company’s stock valued at $546,000 after acquiring an additional 6,615 shares in the last quarter. 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.