Grocery Outlet (NASDAQ:GO) Rating Increased to B at TheStreet

Grocery Outlet (NASDAQ:GOGet Rating) was upgraded by investment analysts at TheStreet from a “c” rating to a “b” rating in a research report issued to clients and investors on Tuesday, TheStreetRatingsTable reports.

Other research analysts also recently issued research reports about the stock. Cowen boosted their target price on shares of Grocery Outlet from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, June 10th. Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Wednesday, May 11th. Telsey Advisory Group restated an “outperform” rating on shares of Grocery Outlet in a report on Thursday, February 24th. Deutsche Bank Aktiengesellschaft upgraded Grocery Outlet from a “hold” rating to a “buy” rating and lifted their price target for the company from $29.00 to $40.00 in a report on Wednesday, May 11th. Finally, Cowen lifted their price target on Grocery Outlet from $42.00 to $45.00 in a report on Friday, June 10th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Grocery Outlet currently has a consensus rating of “Moderate Buy” and an average target price of $36.56.

NASDAQ:GO opened at $40.88 on Tuesday. The company has a market capitalization of $3.94 billion, a PE ratio of 73.00, a price-to-earnings-growth ratio of 5.20 and a beta of -0.20. The company has a quick ratio of 0.68, a current ratio of 1.90 and a debt-to-equity ratio of 0.44. Grocery Outlet has a 52-week low of $21.01 and a 52-week high of $42.00. The stock has a fifty day simple moving average of $36.18 and a 200-day simple moving average of $31.25.

Grocery Outlet (NASDAQ:GOGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. The business had revenue of $831.40 million during the quarter, compared to the consensus estimate of $810.39 million. Grocery Outlet had a return on equity of 8.65% and a net margin of 1.74%. The business’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.23 EPS. As a group, equities analysts anticipate that Grocery Outlet will post 0.77 earnings per share for the current year.

In related news, Director Thomas F. Herman sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $34.07, for a total transaction of $68,140.00. Following the sale, the director now directly owns 43,517 shares of the company’s stock, valued at approximately $1,482,624.19. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Steven K. Wilson sold 5,555 shares of the company’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $32.81, for a total value of $182,259.55. Following the sale, the senior vice president now directly owns 155,993 shares in the company, valued at $5,118,130.33. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 652,766 shares of company stock worth $24,451,569. 11.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of GO. Point72 Hong Kong Ltd bought a new position in Grocery Outlet during the 3rd quarter worth $36,000. Advisor Group Holdings Inc. grew its stake in Grocery Outlet by 51.3% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,508 shares of the company’s stock worth $192,000 after buying an additional 1,868 shares during the last quarter. Sawtooth Solutions LLC bought a new position in Grocery Outlet during the 1st quarter worth $206,000. ProShare Advisors LLC bought a new position in Grocery Outlet during the 4th quarter worth $223,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Grocery Outlet in the fourth quarter worth $229,000. Hedge funds and other institutional investors own 96.41% of the company’s stock.

Grocery Outlet Company Profile (Get Rating)

Grocery Outlet Holding Corp. owns and operates a network of independently operated stores in the United States. The company's stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine.

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Analyst Recommendations for Grocery Outlet (NASDAQ:GO)

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