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

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) have received an average recommendation of "Hold" from the twelve analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $18.00.

GO has been the topic of several recent analyst reports. Loop Capital initiated coverage on shares of Grocery Outlet in a research note on Thursday, October 17th. They set a "hold" rating and a $17.00 price objective on the stock. Bank of America lowered shares of Grocery Outlet from a "buy" rating to a "neutral" rating and decreased their price target for the company from $29.00 to $17.00 in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Grocery Outlet from $29.00 to $26.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Roth Mkm decreased their price target on shares of Grocery Outlet from $20.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company decreased their price target on shares of Grocery Outlet from $26.00 to $23.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 6th.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz acquired 110,000 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average cost of $18.25 per share, with a total value of $2,007,500.00. Following the acquisition, the director now owns 539,785 shares in the company, valued at approximately $9,851,076.25. This represents a 25.59 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The stock was 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 approximately $1,155,580.02. This trade represents a 73.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.50% of the company's stock.

Institutional Trading of Grocery Outlet

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new position in Grocery Outlet in the 1st quarter worth $25,000. Blue Trust Inc. increased 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 valued at $29,000 after acquiring an additional 722 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Grocery Outlet in the third quarter valued at about $32,000. Innealta Capital LLC purchased a new position in shares of Grocery Outlet in the second quarter valued at about $38,000. Finally, True Wealth Design LLC purchased a new position in shares of Grocery Outlet in the third quarter valued at about $75,000. Hedge funds and other institutional investors own 99.87% of the company's stock.

Grocery Outlet Trading Up 4.3 %

Shares of GO stock traded up $0.77 on Tuesday, hitting $18.63. The stock had a trading volume of 2,456,303 shares, compared to its average volume of 1,849,798. Grocery Outlet has a twelve month low of $13.60 and a twelve month high of $29.80. The firm has a market cap of $1.81 billion, a P/E ratio of 35.02, a PEG ratio of 4.45 and a beta of 0.13. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The company has a fifty day moving average price of $16.64 and a two-hundred day moving average price of $19.21.

Grocery Outlet (NASDAQ:GO - Get Free Report) last announced 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. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the business earned $0.25 EPS. The firm's revenue was up 10.4% on a year-over-year basis. As a group, analysts forecast that Grocery Outlet will post 0.63 earnings per share 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.