Analysts Set Grocery Outlet Holding Corp. (NASDAQ:GO) Price Target at $28.90

Grocery Outlet Holding Corp. (NASDAQ:GOGet Free Report) has received a consensus recommendation of “Hold” from the ten research firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $28.90.

Several equities research analysts recently issued reports on the stock. Craig Hallum raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Wednesday, February 28th. Telsey Advisory Group decreased their price target on shares of Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. The Goldman Sachs Group decreased their price target on shares of Grocery Outlet from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, May 9th. UBS Group reduced their target price on shares of Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Finally, Roth Mkm reduced their target price on shares of Grocery Outlet from $27.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th.

Get Our Latest Stock Report on GO

Grocery Outlet Price Performance

Shares of Grocery Outlet stock opened at $21.96 on Friday. The company has a quick ratio of 0.30, a current ratio of 1.25 and a debt-to-equity ratio of 0.23. Grocery Outlet has a twelve month low of $19.73 and a twelve month high of $36.54. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 33.94, a price-to-earnings-growth ratio of 3.69 and a beta of 0.09. The company has a 50-day simple moving average of $23.10 and a two-hundred day simple moving average of $25.49.

Grocery Outlet (NASDAQ:GOGet Free Report) last released its earnings results on Tuesday, May 7th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.10). Grocery Outlet had a net margin of 1.60% and a return on equity of 5.46%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. Analysts forecast that Grocery Outlet will post 0.72 EPS for the current year.

Insider Activity at Grocery Outlet

In other Grocery Outlet news, Director Thomas F. Herman sold 1,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total transaction of $29,000.00. Following the completion of the sale, the director now owns 10,400 shares in the company, valued at approximately $301,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Grocery Outlet news, EVP Luke D. Thompson sold 1,332 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $22.43, for a total transaction of $29,876.76. Following the completion of the sale, the executive vice president now owns 32,306 shares in the company, valued at approximately $724,623.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas F. Herman sold 1,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total transaction of $29,000.00. Following the sale, the director now owns 10,400 shares of the company’s stock, valued at approximately $301,600. The disclosure for this sale can be found here. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of Grocery Outlet

Several institutional investors have recently made changes to their positions in GO. 12 West Capital Management LP grew its stake in shares of Grocery Outlet by 383.3% in the 1st quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company’s stock worth $104,328,000 after acquiring an additional 2,875,000 shares in the last quarter. Capital World Investors grew its position in Grocery Outlet by 281.4% during the first quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after buying an additional 2,641,016 shares during the period. Norges Bank bought a new position in Grocery Outlet during the fourth quarter valued at about $24,588,000. Verition Fund Management LLC bought a new position in Grocery Outlet during the fourth quarter valued at about $16,049,000. Finally, Geneva Capital Management LLC grew its position in Grocery Outlet by 48.1% during the fourth quarter. Geneva Capital Management LLC now owns 1,373,378 shares of the company’s stock valued at $37,026,000 after buying an additional 446,198 shares during the period. Institutional investors own 99.87% of the company’s stock.

Grocery Outlet Company Profile

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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.

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Analyst Recommendations for Grocery Outlet (NASDAQ:GO)

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