Grocery Outlet Holding Corp. (NASDAQ:GO) Given Average Recommendation of “Hold” by Brokerages

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have received an average recommendation of “Hold” from the ten analysts that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $28.90.

Several equities research analysts have recently issued reports on GO shares. Craig Hallum upgraded shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Wednesday, February 28th. Roth Mkm reduced their price target on shares of Grocery Outlet from $27.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. TD Cowen reduced their price target on shares of Grocery Outlet from $43.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. The Goldman Sachs Group reduced their price target on shares of Grocery Outlet from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, May 9th. Finally, UBS Group reduced their price target on shares of Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th.

Insider Buying and Selling

In other Grocery Outlet news, Director Erik D. Ragatz acquired 100,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was bought at an average cost of $20.91 per share, with a total value of $2,091,000.00. Following the completion of the purchase, the director now directly owns 429,785 shares in the company, valued at $8,986,804.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Grocery Outlet news, EVP Luke D. Thompson sold 1,332 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $22.43, for a total value of $29,876.76. Following the completion of the transaction, the executive vice president now directly owns 32,306 shares in the company, valued at $724,623.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Erik D. Ragatz bought 100,000 shares of Grocery Outlet stock in a transaction on Friday, May 10th. The stock was purchased at an average price of $20.91 per share, with a total value of $2,091,000.00. Following the completion of the acquisition, the director now directly owns 429,785 shares of the company’s stock, valued at approximately $8,986,804.35. The disclosure for this purchase can be found here. 4.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Grocery Outlet

A number of large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Grocery Outlet during the first quarter valued at about $25,000. Acadian Asset Management LLC acquired a new position in Grocery Outlet in the 3rd quarter worth approximately $113,000. Daiwa Securities Group Inc. acquired a new position in Grocery Outlet in the 1st quarter worth approximately $127,000. Headlands Technologies LLC increased its holdings in Grocery Outlet by 32,200.0% in the 4th quarter. Headlands Technologies LLC now owns 4,845 shares of the company’s stock worth $131,000 after buying an additional 4,830 shares during the period. Finally, Quest Partners LLC acquired a new position in Grocery Outlet in the 4th quarter worth approximately $193,000. 99.87% of the stock is currently owned by institutional investors.

Grocery Outlet Price Performance

Shares of NASDAQ:GO opened at $21.22 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.25 and a quick ratio of 0.30. Grocery Outlet has a 1-year low of $19.73 and a 1-year high of $36.54. The company has a market capitalization of $2.12 billion, a P/E ratio of 33.16, a P/E/G ratio of 3.68 and a beta of 0.09. The firm’s 50 day simple moving average is $23.10 and its two-hundred day simple moving average is $25.54.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.03 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.02 billion. Research analysts expect that Grocery Outlet will post 0.72 EPS for the current fiscal year.

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.