Brokerages Set Grocery Outlet Holding Corp. (NASDAQ:GO) Target Price at $18.00

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) have earned an average recommendation of "Hold" from the twelve analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $18.00.

Several brokerages have recently weighed in on GO. UBS Group decreased their price target on Grocery Outlet from $21.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 6th. Craig Hallum reduced their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a "hold" rating for the company in a research report on Wednesday, November 6th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $18.00 price objective on shares of Grocery Outlet in a report on Thursday, December 19th. Loop Capital began coverage on shares of Grocery Outlet in a research report on Thursday, October 17th. They issued a "hold" rating and a $17.00 target price on the stock. Finally, Bank of America lowered shares of Grocery Outlet from a "buy" rating to a "neutral" rating and lowered their price target for the company from $29.00 to $17.00 in a report on Wednesday, October 30th.

Grocery Outlet Stock Up 0.3 %

NASDAQ:GO traded up $0.05 during trading hours on Wednesday, reaching $16.32. The company had a trading volume of 1,306,343 shares, compared to its average volume of 1,602,469. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 32.00, a P/E/G ratio of 4.81 and a beta of 0.31. The business's 50-day simple moving average is $17.64 and its two-hundred day simple moving average is $18.26. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. Grocery Outlet has a twelve month low of $13.60 and a twelve month high of $29.19.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. Grocery Outlet's revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 EPS. On average, equities analysts expect that Grocery Outlet will post 0.63 earnings per share for the current year.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz purchased 110,000 shares of the company's stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the completion of the purchase, the director now owns 539,785 shares of the company's stock, valued at approximately $9,851,076.25. The trade was a 25.59 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.50% of the company's stock.

Institutional Trading of Grocery Outlet

A number of hedge funds have recently added to or reduced their stakes in GO. Blue Trust Inc. grew its stake in Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company's stock valued at $29,000 after acquiring an additional 722 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Grocery Outlet in the 3rd quarter valued at about $32,000. True Wealth Design LLC acquired a new stake in shares of Grocery Outlet during the 3rd quarter worth approximately $75,000. Canada Pension Plan Investment Board purchased a new stake in shares of Grocery Outlet during the 2nd quarter valued at approximately $82,000. Finally, Nisa Investment Advisors LLC purchased a new position in Grocery Outlet in the third quarter worth approximately $181,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Grocery Outlet Company Profile

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.