Grocery Outlet (NASDAQ:GO) Rating Reiterated by Telsey Advisory Group

Grocery Outlet (NASDAQ:GO)‘s stock had its “outperform” rating reaffirmed by equities researchers at Telsey Advisory Group in a research note issued on Wednesday, Benzinga reports. They currently have a $31.00 price objective on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 47.13% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Roth Mkm decreased their target price on Grocery Outlet from $27.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. TD Cowen decreased their target price on Grocery Outlet from $43.00 to $25.00 and set a “buy” rating for the company in a report on Friday, May 10th. The Goldman Sachs Group decreased their target price on Grocery Outlet from $24.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, May 9th. Craig Hallum cut Grocery Outlet from a “buy” rating to a “hold” rating and set a $20.00 target price for the company. in a report on Wednesday. Finally, UBS Group decreased their target price on Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $27.36.

Grocery Outlet Stock Up 1.0 %

GO opened at $21.07 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.25 and a quick ratio of 0.30. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 3.85 and a beta of 0.09. The business has a 50-day moving average of $21.32 and a two-hundred day moving average of $24.27. Grocery Outlet has a 12 month low of $18.79 and a 12 month high of $36.54.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.10). The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Grocery Outlet had a net margin of 1.60% and a return on equity of 5.46%. On average, research analysts expect that Grocery Outlet will post 0.69 earnings per share for the current year.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, Director John E. Bachman bought 10,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were bought at an average cost of $20.09 per share, with a total value of $200,900.00. Following the transaction, the director now directly owns 25,872 shares in the company, valued at approximately $519,768.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director John E. Bachman purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average cost of $20.09 per share, with a total value of $200,900.00. Following the transaction, the director now owns 25,872 shares in the company, valued at approximately $519,768.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Luke D. Thompson sold 1,332 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $22.43, for a total value of $29,876.76. Following the sale, the executive vice president now directly owns 32,306 shares in the company, valued at $724,623.58. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GO. Boulder Hill Capital Management LP acquired a new position in shares of Grocery Outlet during the fourth quarter valued at $2,038,000. Charles Schwab Investment Management Inc. grew its holdings in Grocery Outlet by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 879,116 shares of the company’s stock worth $23,701,000 after acquiring an additional 38,506 shares during the period. WCM Investment Management LLC grew its holdings in Grocery Outlet by 4.8% during the fourth quarter. WCM Investment Management LLC now owns 946,674 shares of the company’s stock worth $25,532,000 after acquiring an additional 43,352 shares during the period. Capstone Investment Advisors LLC grew its holdings in Grocery Outlet by 161.1% during the first quarter. Capstone Investment Advisors LLC now owns 93,188 shares of the company’s stock worth $2,682,000 after acquiring an additional 57,496 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in Grocery Outlet by 4.6% during the fourth quarter. Mackenzie Financial Corp now owns 4,926,336 shares of the company’s stock worth $132,814,000 after acquiring an additional 216,257 shares during the period. 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.