Grocery Outlet (NASDAQ:GO) Lowered to “Hold” Rating by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft lowered shares of Grocery Outlet (NASDAQ:GO) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, MarketBeat reports. Deutsche Bank Aktiengesellschaft currently has $12.00 price objective on the stock.

Several other research firms also recently weighed in on GO. UBS Group decreased their price target on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Wells Fargo & Company decreased their target price on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group cut their price target on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a report on Friday, November 1st. Roth Mkm reduced their price target on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Finally, Bank of America cut Grocery Outlet from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $29.00 to $17.00 in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Grocery Outlet presently has an average rating of “Hold” and a consensus target price of $15.58.

Grocery Outlet Price Performance

NASDAQ GO opened at $10.99 on Wednesday. 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 firm has a market capitalization of $1.07 billion, a P/E ratio of 21.55, a PEG ratio of 9.08 and a beta of 0.32. The company has a 50-day moving average price of $16.14 and a 200-day moving average price of $17.14. Grocery Outlet has a 52 week low of $10.26 and a 52 week high of $29.19.

Institutional Investors Weigh In On Grocery Outlet

A number of institutional investors have recently added to or reduced their stakes in the stock. Creative Planning bought a new stake in shares of Grocery Outlet during the third quarter valued at approximately $198,000. Blue Trust Inc. grew its stake in Grocery Outlet by 76.6% during the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Grocery Outlet in the 3rd quarter valued at $801,000. Nisa Investment Advisors LLC bought a new stake in Grocery Outlet in the 3rd quarter valued at $181,000. Finally, Pallas Capital Advisors LLC bought a new position in shares of Grocery Outlet during the 3rd quarter valued at about $474,000. 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.