Telsey Advisory Group Reiterates Outperform Rating for Grocery Outlet (NASDAQ:GO)

Grocery Outlet (NASDAQ:GO)‘s stock had its “outperform” rating reiterated by research analysts at Telsey Advisory Group in a research report issued on Wednesday,Benzinga reports. They currently have a $17.00 target price on the stock. Telsey Advisory Group’s price target points to a potential upside of 49.38% from the company’s previous close.

A number of other brokerages also recently issued reports on GO. DA Davidson cut their price objective on Grocery Outlet from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. UBS Group dropped their price target on shares of Grocery Outlet from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grocery Outlet in a research note on Wednesday, October 8th. Morgan Stanley raised shares of Grocery Outlet from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $13.00 to $16.00 in a research note on Wednesday, August 6th. Finally, Bank of America cut their price target on shares of Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Grocery Outlet presently has a consensus rating of “Hold” and a consensus target price of $15.55.

Grocery Outlet Trading Up 0.6%

GO opened at $11.38 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.30 and a quick ratio of 0.25. Grocery Outlet has a fifty-two week low of $10.21 and a fifty-two week high of $19.97. The company’s 50 day moving average price is $13.51 and its two-hundred day moving average price is $14.55. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -227.60, a PEG ratio of 1.79 and a beta of 0.47.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. Grocery Outlet had a positive return on equity of 5.86% and a negative net margin of 0.10%.Grocery Outlet’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 earnings per share. Grocery Outlet has set its FY 2025 guidance at 0.780-0.80 EPS. As a group, research analysts predict that Grocery Outlet will post 0.63 earnings per share for the current year.

Insider Buying and Selling at Grocery Outlet

In other news, EVP Steven K. Wilson sold 25,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $12.53, for a total transaction of $313,250.00. Following the completion of the transaction, the executive vice president directly owned 116,923 shares of the company’s stock, valued at $1,465,045.19. The trade was a 17.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC boosted its holdings in Grocery Outlet by 213.5% in the 2nd quarter. Parallel Advisors LLC now owns 2,025 shares of the company’s stock worth $25,000 after buying an additional 1,379 shares during the last quarter. Bayforest Capital Ltd acquired a new position in Grocery Outlet in the 3rd quarter valued at $29,000. Hantz Financial Services Inc. raised its stake in Grocery Outlet by 591.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,033 shares of the company’s stock valued at $33,000 after purchasing an additional 1,739 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Grocery Outlet by 32.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company’s stock valued at $37,000 after purchasing an additional 719 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Grocery Outlet by 64.2% during the 1st quarter. US Bancorp DE now owns 3,024 shares of the company’s stock worth $42,000 after purchasing an additional 1,182 shares during the last quarter. 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.