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

Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) has been given an average recommendation of "Hold" by the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $18.00.

GO has been the subject of a number of recent analyst reports. 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 price objective for the company. TD Cowen downgraded Grocery Outlet from a "buy" rating to a "hold" rating and decreased their price target for the company from $25.00 to $16.00 in a research report on Wednesday, November 6th. The Goldman Sachs Group dropped their price target on Grocery Outlet from $17.00 to $15.00 and set a "sell" rating on the stock in a report on Friday, November 1st. Craig Hallum reduced their price objective on Grocery Outlet from $20.00 to $17.00 and set a "hold" rating for the company in a research note on Wednesday, November 6th. Finally, Telsey Advisory Group lowered their target price on Grocery Outlet from $19.00 to $18.00 and set a "market perform" rating on the stock in a research note on Wednesday, November 6th.

Insider Buying and Selling

In other Grocery Outlet news, Director Erik D. Ragatz purchased 110,000 shares of the business's stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the completion of the transaction, the director now directly owns 539,785 shares in the company, valued at approximately $9,851,076.25. This represents a 25.59 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the transaction, the director now owns 70,938 shares in the company, valued at approximately $1,155,580.02. This represents a 73.83 % decrease in their position. The disclosure for this sale can be found here. 4.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Grocery Outlet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GO. Blue Trust Inc. grew its position in shares of Grocery Outlet by 76.6% in the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company's stock worth $29,000 after buying an additional 722 shares during the last quarter. Innealta Capital LLC purchased a new stake in Grocery Outlet in the second quarter worth $38,000. Capital Performance Advisors LLP bought a new stake in Grocery Outlet in the third quarter valued at $32,000. Canada Pension Plan Investment Board purchased a new position in Grocery Outlet during the 2nd quarter valued at $82,000. Finally, True Wealth Design LLC bought a new position in Grocery Outlet in the 3rd quarter worth $75,000. 99.87% of the stock is currently owned by institutional investors.

Grocery Outlet Trading Down 0.3 %

Shares of NASDAQ:GO traded down $0.06 during midday trading on Friday, reaching $19.11. The company's stock had a trading volume of 1,214,423 shares, compared to its average volume of 1,835,778. The firm has a 50 day moving average price of $17.80 and a two-hundred day moving average price of $18.87. Grocery Outlet has a fifty-two week low of $13.60 and a fifty-two week high of $29.80. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 4.74 and a beta of 0.25. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46.

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