Craig Hallum Has Lowered Expectations for Grocery Outlet (NASDAQ:GO) Stock Price

Grocery Outlet (NASDAQ:GO - Free Report) had its price target decreased by Craig Hallum from $20.00 to $17.00 in a report released on Wednesday, Benzinga reports. Craig Hallum currently has a hold rating on the stock.

GO has been the topic of a number of other research reports. Telsey Advisory Group lowered shares of Grocery Outlet from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $27.00 to $19.00 in a report on Wednesday, October 30th. Bank of America lowered shares of Grocery Outlet from a "buy" rating to a "neutral" rating and cut their price target for the stock from $29.00 to $17.00 in a report on Wednesday, October 30th. Wells Fargo & Company cut their price target on shares of Grocery Outlet from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. The Goldman Sachs Group cut their price target on shares of Grocery Outlet from $17.00 to $15.00 and set a "sell" rating on the stock in a report on Friday, November 1st. Finally, Roth Mkm cut their price target 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 equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $18.17.

Grocery Outlet Price Performance

NASDAQ:GO traded up $1.55 during trading hours on Wednesday, hitting $16.11. The stock had a trading volume of 5,552,821 shares, compared to its average volume of 1,820,757. The company has a 50 day simple moving average of $16.66 and a two-hundred day simple moving average of $19.75. 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 has a one year low of $13.60 and a one year high of $29.98. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 29.83, a P/E/G ratio of 3.57 and a beta of 0.13.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.10 billion. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The business's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the company posted $0.25 EPS. Research analysts forecast that Grocery Outlet will post 0.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the completion of the transaction, the director now directly owns 70,938 shares of the company's stock, valued at $1,155,580.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the completion of the transaction, the director now directly owns 70,938 shares of the company's stock, valued at $1,155,580.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the transaction, the director now directly owns 70,938 shares of the company's stock, valued at $1,340,728.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 500,095 shares of company stock valued at $8,876,548. Insiders own 4.50% of the company's stock.

Institutional Trading of Grocery Outlet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in shares of Grocery Outlet in the first quarter worth approximately $25,000. Blue Trust Inc. boosted its position in shares of Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company's stock worth $29,000 after purchasing an additional 722 shares during the period. Innealta Capital LLC bought a new position in shares of Grocery Outlet in the second quarter worth approximately $38,000. Capital Performance Advisors LLP bought a new position in shares of Grocery Outlet in the third quarter worth approximately $32,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Grocery Outlet in the second quarter worth approximately $82,000. 99.87% of the stock is owned by hedge funds and other 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.