Grocery Outlet (NASDAQ:GO) Shares Up 4.2% - Time to Buy?

Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) was up 4.2% during trading on Tuesday . The stock traded as high as $15.78 and last traded at $15.68. Approximately 327,562 shares were traded during trading, a decline of 82% from the average daily volume of 1,816,119 shares. The stock had previously closed at $15.05.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GO shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Grocery Outlet from $29.00 to $26.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Roth Mkm decreased their price target on Grocery Outlet from $20.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, November 6th. Bank of America downgraded Grocery Outlet from a "buy" rating to a "neutral" rating and cut their price objective for the company from $29.00 to $17.00 in a research report on Wednesday, October 30th. Loop Capital began coverage on Grocery Outlet in a research report on Thursday, October 17th. They set a "hold" rating and a $17.00 target price for the company. Finally, Craig Hallum cut their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a "hold" rating on the stock in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Grocery Outlet has a consensus rating of "Hold" and an average price target of $18.00.

Grocery Outlet Trading Up 3.7 %

The company's 50 day simple moving average is $17.71 and its two-hundred day simple moving average is $18.43. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 30.61, a P/E/G ratio of 4.74 and a beta of 0.25. 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 (NASDAQ:GO - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, topping 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 return on equity of 5.25% and a net margin of 1.20%. The company's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. As a group, research analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Insider Activity

In other Grocery Outlet news, Director Erik D. Ragatz bought 110,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $18.25 per share, with a total value of $2,007,500.00. Following the completion of the acquisition, the director now directly owns 539,785 shares in the company, valued at approximately $9,851,076.25. This trade represents a 25.59 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.50% of the company's stock.

Institutional Investors Weigh In On Grocery Outlet

A number of hedge funds and other institutional investors have recently made changes to their positions in GO. Dimensional Fund Advisors LP increased its position in shares of Grocery Outlet by 22.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company's stock valued at $79,933,000 after buying an additional 655,065 shares in the last quarter. Van Berkom & Associates Inc. raised its position in shares of Grocery Outlet by 21.1% during the 2nd quarter. Van Berkom & Associates Inc. now owns 3,498,533 shares of the company's stock worth $77,388,000 after purchasing an additional 609,871 shares during the last quarter. State Street Corp lifted its stake in Grocery Outlet by 0.6% in the 3rd quarter. State Street Corp now owns 3,407,152 shares of the company's stock valued at $59,796,000 after buying an additional 21,237 shares in the last quarter. Millennium Management LLC boosted its holdings in Grocery Outlet by 677.6% in the 2nd quarter. Millennium Management LLC now owns 1,981,558 shares of the company's stock worth $43,832,000 after buying an additional 1,726,741 shares during the last quarter. Finally, Solel Partners LP acquired a new position in shares of Grocery Outlet during the second quarter valued at approximately $35,980,000. Institutional investors and hedge funds own 99.87% of the company's stock.

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.