Grocery Outlet (NASDAQ:GO) Upgraded to “B” by TheStreet

TheStreet upgraded shares of Grocery Outlet (NASDAQ:GO – Get Rating) from a c rating to a b rating in a research note released on Tuesday morning, TheStreetRatingsTable reports.

Several other equities analysts also recently weighed in on the stock. Bank of America raised shares of Grocery Outlet from an underperform rating to a buy rating and lifted their price target for the company from $23.00 to $37.00 in a report on Friday, April 29th. They noted that the move was a valuation call. Cowen lifted their price target on shares of Grocery Outlet from $42.00 to $45.00 and gave the company an outperform rating in a report on Friday, June 10th. Cowen lifted their price target on shares of Grocery Outlet from $42.00 to $45.00 in a report on Friday, June 10th. Craig Hallum raised shares of Grocery Outlet from a hold rating to a buy rating and set a $43.00 price target on the stock in a report on Wednesday, May 11th. Finally, Deutsche Bank Aktiengesellschaft raised shares of 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. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $36.56.

Shares of GO stock opened at $40.88 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 1.90 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $3.94 billion, a PE ratio of 73.00, a P/E/G ratio of 5.20 and a beta of -0.20. The company has a 50 day moving average price of $36.18 and a 200-day moving average price of $31.25. Grocery Outlet has a 52 week low of $21.01 and a 52 week high of $42.00.

Grocery Outlet (NASDAQ:GO – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $831.40 million for the quarter, compared to the consensus estimate of $810.39 million. Grocery Outlet had a net margin of 1.74% and a return on equity of 8.65%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share. Analysts anticipate that Grocery Outlet will post 0.77 earnings per share for the current year.

In other news, SVP Steven K. Wilson sold 5,555 shares of the stock in a transaction 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 owns 155,993 shares of the company’s stock, valued at $5,118,130.33. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas F. Herman sold 2,000 shares of the company’s stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $34.07, for a total transaction of $68,140.00. Following the completion of the transaction, the director now owns 43,517 shares in the company, valued at $1,482,624.19. The disclosure for this sale can be found here. In the last three months, insiders sold 652,766 shares of company stock worth $24,451,569. Insiders own 11.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new position in Grocery Outlet during the 3rd quarter worth about $36,000. Advisor Group Holdings Inc. grew its holdings 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 acquiring an additional 1,868 shares in the last quarter. Sawtooth Solutions LLC bought a new position in Grocery Outlet during the 1st quarter worth about $206,000. ProShare Advisors LLC bought a new position in Grocery Outlet during the 4th quarter worth about $223,000. Finally, Crossmark Global Holdings Inc. bought a new position in Grocery Outlet during the 4th quarter worth about $229,000. Hedge funds and other institutional investors own 96.41% of the company’s stock.

About Grocery Outlet (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.

See Also