Grocery Outlet (NASDAQ:GO) Earns Market Perform Rating from Telsey Advisory Group

Grocery Outlet (NASDAQ:GO)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Telsey Advisory Group in a note issued to investors on Thursday,Benzinga reports. They presently have a $18.00 target price on the stock. Telsey Advisory Group’s target price indicates a potential upside of 8.83% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Roth Mkm cut their target price on shares of 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 set a “hold” rating and a $17.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on Grocery Outlet from $29.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group lowered 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. Finally, UBS Group dropped their price objective on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. One equities 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $18.00.

Grocery Outlet Trading Down 3.0 %

Shares of GO opened at $16.54 on Thursday. 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 has a 52-week low of $13.60 and a 52-week high of $29.19. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 32.43, a PEG ratio of 4.74 and a beta of 0.25. The business’s fifty day moving average is $17.84 and its 200-day moving average is $18.77.

Grocery Outlet (NASDAQ:GO) last issued 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 return on equity of 5.25% and a net margin of 1.20%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The business’s quarterly revenue was up 10.4% on a year-over-year basis. Equities analysts anticipate that Grocery Outlet will post 0.63 EPS for the current fiscal year.

Insider Transactions at Grocery Outlet

In related news, Director Erik D. Ragatz purchased 110,000 shares of Grocery Outlet stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the completion of the acquisition, the director now owns 539,785 shares of the company’s stock, valued at $9,851,076.25. This trade represents a 25.59 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Grocery Outlet

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. raised its stake in Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after buying an additional 722 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Grocery Outlet during the third quarter valued at approximately $32,000. Innealta Capital LLC acquired a new position in shares of Grocery Outlet during the second quarter worth approximately $38,000. True Wealth Design LLC bought a new position in shares of Grocery Outlet in the 3rd quarter worth $75,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Grocery Outlet in the 2nd quarter worth $82,000. Institutional investors own 99.87% of the company’s stock.

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.