Telsey Advisory Group Issues Pessimistic Forecast for Grocery Outlet (NASDAQ:GO) Stock Price

Grocery Outlet (NASDAQ:GO) had its target price decreased by equities research analysts at Telsey Advisory Group from $17.00 to $15.00 in a report released on Tuesday, MarketBeat Ratings reports. The brokerage presently has an “outperform” rating on the stock. Telsey Advisory Group’s price target points to a potential upside of 45.35% from the stock’s previous close.

A number of other brokerages have also recently issued reports on GO. Zacks Research cut shares of Grocery Outlet from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. Bank of America dropped 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. Morgan Stanley decreased their price objective on Grocery Outlet from $14.00 to $11.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Wells Fargo & Company dropped their target price on Grocery Outlet from $19.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, December 19th. Finally, TD Cowen decreased their price target on Grocery Outlet from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $14.32.

Grocery Outlet Price Performance

Shares of GO stock opened at $10.32 on Tuesday. Grocery Outlet has a 12 month low of $8.96 and a 12 month high of $19.41. The company has a market capitalization of $1.01 billion, a P/E ratio of -206.40, a P/E/G ratio of 2.00 and a beta of 0.49. The stock has a 50 day moving average of $9.92 and a two-hundred day moving average of $13.27. The company has a current ratio of 1.30, a quick ratio of 0.25 and a debt-to-equity ratio of 0.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in Grocery Outlet by 5.8% in the 1st quarter. Royal Bank of Canada now owns 122,565 shares of the company’s stock valued at $1,713,000 after acquiring an additional 6,736 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Grocery Outlet by 14.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 357,856 shares of the company’s stock valued at $5,003,000 after purchasing an additional 44,214 shares during the last quarter. CWM LLC increased its holdings in shares of Grocery Outlet by 883.6% in the second quarter. CWM LLC now owns 14,872 shares of the company’s stock valued at $185,000 after purchasing an additional 13,360 shares in the last quarter. TD Asset Management Inc raised its position in Grocery Outlet by 113.3% in the 2nd quarter. TD Asset Management Inc now owns 168,452 shares of the company’s stock worth $2,092,000 after purchasing an additional 89,478 shares during the last quarter. Finally, AlphaQuest LLC lifted its holdings in Grocery Outlet by 327.7% during the 2nd quarter. AlphaQuest LLC now owns 5,761 shares of the company’s stock worth $72,000 after buying an additional 4,414 shares in the last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

About Grocery Outlet

Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.

The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.