Grocery Outlet’s (GO) Market Perform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reiterated their market perform rating on shares of Grocery Outlet (NASDAQ:GO) in a research note published on Wednesday,Benzinga reports. They currently have a $18.00 price target on the stock.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group dropped their price objective on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a research note on Friday, November 1st. Wells Fargo & Company decreased their price objective on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Craig Hallum dropped their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Loop Capital began coverage on shares of Grocery Outlet in a report on Thursday, October 17th. They set a “hold” rating and a $17.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $18.00.

Grocery Outlet Stock Up 8.0 %

GO stock opened at $16.32 on Wednesday. Grocery Outlet has a twelve month low of $13.60 and a twelve month high of $29.19. The firm has a market capitalization of $1.59 billion, a PE ratio of 32.00, a PEG ratio of 16.14 and a beta of 0.31. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The stock has a 50-day simple moving average of $17.52 and a two-hundred day simple moving average of $17.82.

Grocery Outlet (NASDAQ:GO) last posted its earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the firm posted $0.25 EPS. Grocery Outlet’s revenue was up 10.4% on a year-over-year basis. On average, equities analysts predict that Grocery Outlet will post 0.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Grocery Outlet news, Director Erik D. Ragatz bought 110,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the completion of the acquisition, the director now directly owns 539,785 shares in the company, valued at $9,851,076.25. The trade was a 25.59 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake 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 in the last quarter. Decker Retirement Planning Inc. bought a new stake in Grocery Outlet during the 4th quarter valued at approximately $31,000. Capital Performance Advisors LLP purchased a new position in shares of Grocery Outlet during the 3rd quarter worth approximately $32,000. KBC Group NV raised its position in shares of Grocery Outlet by 62.7% in the 4th quarter. KBC Group NV now owns 4,506 shares of the company’s stock worth $70,000 after acquiring an additional 1,736 shares in the last quarter. Finally, True Wealth Design LLC purchased a new position in shares of Grocery Outlet in the 3rd quarter valued at approximately $75,000. 99.87% of the stock is owned by hedge funds and other 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.