Grocery Outlet (NASDAQ:GO) Given New $17.00 Price Target at Craig Hallum

Grocery Outlet (NASDAQ:GO) had its target price reduced by Craig Hallum from $20.00 to $17.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a hold rating on the stock.

GO has been the subject of a number of other reports. Bank of America downgraded Grocery Outlet from a “buy” rating to a “neutral” rating and decreased their price target for the company from $29.00 to $17.00 in a report on Wednesday, October 30th. TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and decreased their price target for the company from $25.00 to $16.00 in a report on Wednesday. Telsey Advisory Group cut Grocery Outlet from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $27.00 to $19.00 in a research report on Wednesday, October 30th. Loop Capital assumed coverage on Grocery Outlet in a research report on Thursday, October 17th. They issued a “hold” rating and a $17.00 price objective for the company. Finally, UBS Group cut their price objective on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $18.17.

Grocery Outlet Stock Performance

Shares of Grocery Outlet stock traded up $0.55 on Wednesday, reaching $16.66. 122,833 shares of the stock were exchanged, compared to its average volume of 1,812,992. The company has a quick ratio of 0.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. Grocery Outlet has a twelve month low of $13.60 and a twelve month high of $29.98. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 3.42 and a beta of 0.13. The business has a 50 day moving average price of $16.66 and a two-hundred day moving average price of $19.75.

Grocery Outlet (NASDAQ:GO) last released its earnings results on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. 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 company posted $0.25 earnings per share. The company’s revenue was up 10.4% compared to the same quarter last year. Analysts anticipate that Grocery Outlet will post 0.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the completion of the sale, the director now directly owns 70,938 shares in the company, valued at approximately $1,340,728.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the transaction, the director now owns 70,938 shares of the company’s stock, valued at $1,155,580.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the transaction, the director now directly owns 70,938 shares in the company, valued at approximately $1,340,728.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 500,095 shares of company stock worth $8,876,548. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Grocery Outlet

Several hedge funds have recently bought and sold shares of the company. Thrivent Financial for Lutherans lifted its stake in Grocery Outlet by 5.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 209,531 shares of the company’s stock worth $3,677,000 after acquiring an additional 11,615 shares in the last quarter. Angeles Investment Advisors LLC increased its holdings in Grocery Outlet by 18.5% during the 3rd quarter. Angeles Investment Advisors LLC now owns 21,535 shares of the company’s stock worth $378,000 after purchasing an additional 3,355 shares during the period. Geneva Capital Management LLC increased its holdings in Grocery Outlet by 0.9% during the 3rd quarter. Geneva Capital Management LLC now owns 1,575,495 shares of the company’s stock worth $27,650,000 after purchasing an additional 13,561 shares during the period. Victory Capital Management Inc. increased its holdings in Grocery Outlet by 23.2% during the 3rd quarter. Victory Capital Management Inc. now owns 915,119 shares of the company’s stock worth $16,060,000 after purchasing an additional 172,050 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Grocery Outlet during the 3rd quarter worth about $2,507,000. Institutional investors and hedge funds 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.