Grocery Outlet’s (GO) “Neutral” Rating Reiterated at DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Grocery Outlet (NASDAQ:GO) in a research report report published on Thursday,Benzinga reports. They currently have a $15.00 price objective on the stock.

GO has been the subject of several other research reports. Bank of America reduced their price target on shares of Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Grocery Outlet in a report on Wednesday, October 8th. Zacks Research cut shares of Grocery Outlet from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Telsey Advisory Group reiterated an “outperform” rating and issued a $17.00 price target on shares of Grocery Outlet in a research report on Wednesday. Finally, 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 note 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.55.

Grocery Outlet Price Performance

NASDAQ GO opened at $11.34 on Thursday. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -226.80, a PEG ratio of 1.79 and a beta of 0.47. Grocery Outlet has a 1-year low of $10.21 and a 1-year high of $19.97. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.30 and a quick ratio of 0.25. The business’s fifty day moving average price is $13.42 and its 200-day moving average price is $14.54.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GO. Bayforest Capital Ltd purchased a new stake in Grocery Outlet in the 3rd quarter worth $29,000. Parallel Advisors LLC lifted its position in shares of Grocery Outlet by 213.5% in the second quarter. Parallel Advisors LLC now owns 2,025 shares of the company’s stock valued at $25,000 after acquiring an additional 1,379 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Grocery Outlet by 591.5% in the third quarter. Hantz Financial Services Inc. now owns 2,033 shares of the company’s stock worth $33,000 after acquiring an additional 1,739 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Grocery Outlet by 32.3% during the second quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company’s stock worth $37,000 after purchasing an additional 719 shares in the last quarter. Finally, US Bancorp DE grew its position in shares of Grocery Outlet by 64.2% during the first quarter. US Bancorp DE now owns 3,024 shares of the company’s stock worth $42,000 after purchasing an additional 1,182 shares in the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

About Grocery Outlet

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.