Grocery Outlet (NASDAQ:GO) Receives New Coverage from Analysts at Melius Research

Research analysts at Melius Research assumed coverage on shares of Grocery Outlet (NASDAQ:GO) in a research report issued on Monday, Benzinga reports. The brokerage set a “hold” rating and a $17.00 price target on the stock. Melius Research’s price objective suggests a potential upside of 4.81% from the company’s current price.

GO has been the subject of several other reports. Telsey Advisory Group decreased their price objective on shares of Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Craig Hallum lowered Grocery Outlet from a “buy” rating to a “hold” rating and cut their price objective for the company from $32.00 to $20.00 in a report on Wednesday, July 31st. UBS Group lowered their target price on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Roth Capital upgraded shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Roth Mkm dropped their target price on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Grocery Outlet has an average rating of “Hold” and an average price target of $22.11.

Grocery Outlet Trading Up 1.6 %

NASDAQ GO traded up $0.25 during mid-day trading on Monday, hitting $16.22. The company’s stock had a trading volume of 729,458 shares, compared to its average volume of 1,744,810. Grocery Outlet has a 52-week low of $15.72 and a 52-week high of $29.98. The stock’s fifty day simple moving average is $18.69 and its two-hundred day simple moving average is $22.25. The firm has a market capitalization of $1.62 billion, a P/E ratio of 25.38, a price-to-earnings-growth ratio of 3.16 and a beta of 0.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.29.

Grocery Outlet (NASDAQ:GO) last announced its earnings results on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the business posted $0.23 EPS. The company’s revenue was up 11.7% on a year-over-year basis. Research analysts expect that Grocery Outlet will post 0.68 EPS for the current year.

Insider Transactions at Grocery Outlet

In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the completion of the transaction, the director now owns 70,938 shares in the company, valued at approximately $1,340,728.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 300,000 shares of company stock valued at $5,617,000 over the last three months. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

Several institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new position in Grocery Outlet during the 1st quarter worth approximately $25,000. Innealta Capital LLC acquired a new stake in shares of Grocery Outlet during the 2nd quarter valued at $38,000. Canada Pension Plan Investment Board bought a new stake in Grocery Outlet during the 2nd quarter worth $82,000. Daiwa Securities Group Inc. acquired a new position in Grocery Outlet in the 1st quarter worth about $127,000. Finally, Quest Partners LLC bought a new position in Grocery Outlet in the fourth quarter valued at about $193,000. 99.87% of the stock is currently owned by institutional investors.

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.