Grocery Outlet Holding Corp. (NASDAQ:GO) Receives $18.00 Average PT from Analysts

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have received an average recommendation of “Hold” from the twelve research firms that are currently covering the stock, MarketBeat reports. One research 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. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $18.00.

Several equities analysts have issued reports on GO shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Wells Fargo & Company dropped their price target on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. UBS Group reduced 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 dropped their target price 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. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $18.00 price target on shares of Grocery Outlet in a report on Thursday, December 19th.

Grocery Outlet Price Performance

Shares of NASDAQ:GO opened at $16.50 on Wednesday. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 4.81 and a beta of 0.31. Grocery Outlet has a one year low of $13.60 and a one year high of $29.19. The company has a 50-day simple moving average of $17.76 and a 200-day simple moving average of $18.14. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46.

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 analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $1.11 billion during 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%. During the same period last year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, analysts predict that Grocery Outlet will post 0.63 EPS for the current year.

Insider Buying and Selling

In other Grocery Outlet news, Director Erik D. Ragatz bought 110,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was purchased at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the acquisition, the director now owns 539,785 shares of the company’s stock, valued at $9,851,076.25. The trade was a 25.59 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 4.50% of the stock is currently owned by insiders.

Institutional Trading of Grocery Outlet

Several large investors have recently modified their holdings of GO. Barclays PLC lifted 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 in the last quarter. Jane Street Group LLC raised its position in shares of Grocery Outlet by 357.7% in 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 last quarter. Cerity Partners LLC lifted its stake in shares of Grocery Outlet by 887.1% during the third 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 during the period. Y Intercept Hong Kong Ltd acquired a new stake in Grocery Outlet during the third quarter worth approximately $511,000. Finally, GSA Capital Partners LLP purchased a new stake in Grocery Outlet in the 3rd quarter worth approximately $2,507,000. 99.87% of the stock is currently owned by institutional investors and hedge funds.

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.