Bank of America Has Lowered Expectations for Grocery Outlet (NASDAQ:GO) Stock Price

Grocery Outlet (NASDAQ:GO) had its target price decreased by Bank of America from $20.00 to $17.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price target suggests a potential upside of 8.01% from the company’s previous close.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group reduced their price target on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a report on Friday, November 1st. UBS Group reduced their target price on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. TD Cowen downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and dropped their price target for the company from $25.00 to $16.00 in a research note on Wednesday, November 6th. Roth Mkm reduced their price objective on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft lowered Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $16.55.

Grocery Outlet Trading Down 0.4 %

NASDAQ GO opened at $15.74 on Wednesday. Grocery Outlet has a twelve month low of $13.60 and a twelve month high of $29.19. The business’s fifty day moving average is $16.26 and its 200 day moving average is $17.18. 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 company has a market cap of $1.53 billion, a price-to-earnings ratio of 30.86, a price-to-earnings-growth ratio of 9.08 and a beta of 0.32.

Hedge Funds Weigh In On Grocery Outlet

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC lifted its position in shares of Grocery Outlet by 1,224.1% during the 3rd quarter. Barclays PLC now owns 300,393 shares of the company’s stock valued at $5,271,000 after acquiring an additional 277,706 shares during the period. Jane Street Group LLC boosted its position in shares of Grocery Outlet by 357.7% during the 3rd quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock worth $9,118,000 after purchasing an additional 406,039 shares in the last quarter. Choreo LLC acquired a new stake in shares of Grocery Outlet in the 4th quarter valued at about $245,000. Cerity Partners LLC increased its position in Grocery Outlet by 887.1% in the 3rd quarter. Cerity Partners LLC now owns 105,675 shares of the company’s stock valued at $1,855,000 after buying an additional 94,969 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Grocery Outlet during the 3rd quarter worth approximately $511,000. 99.87% of the stock is currently owned by institutional investors.

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.