Grocery Outlet (NASDAQ:GO) Price Target Cut to $15.00 by Analysts at The Goldman Sachs Group

Grocery Outlet (NASDAQ:GO - Free Report) had its price target trimmed by The Goldman Sachs Group from $17.00 to $15.00 in a research report report published on Friday, Benzinga reports. The firm currently has a sell rating on the stock.

Several other brokerages also recently issued reports on GO. Wells Fargo & Company lowered their price target on Grocery Outlet from $28.00 to $26.00 and set an "overweight" rating for the company in a report on Wednesday. Telsey Advisory Group cut Grocery Outlet from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $27.00 to $19.00 in a research note on Wednesday. UBS Group lowered their target price on Grocery Outlet from $27.00 to $21.00 and set a "neutral" rating for the company in a report on Wednesday, August 7th. Roth Mkm cut their price target on Grocery Outlet from $22.00 to $20.00 and set a "neutral" rating on the stock in a report on Wednesday, August 7th. Finally, Loop Capital assumed coverage on shares of Grocery Outlet in a research note on Thursday, October 17th. They set a "hold" rating and a $17.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $19.73.

Grocery Outlet Trading Up 5.2 %

Shares of NASDAQ GO traded up $0.75 during midday trading on Friday, hitting $15.05. The stock had a trading volume of 3,442,909 shares, compared to its average volume of 1,798,509. The firm has a market cap of $1.47 billion, a P/E ratio of 27.87, a price-to-earnings-growth ratio of 2.67 and a beta of 0.10. Grocery Outlet has a fifty-two week low of $13.60 and a fifty-two week high of $29.98. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.29. The company's 50-day simple moving average is $16.81 and its 200 day simple moving average is $20.01.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.05. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the firm posted $0.23 earnings per share. Grocery Outlet's revenue for the quarter was up 11.7% compared to the same quarter last year. Research analysts anticipate that Grocery Outlet will post 0.68 EPS for the current year.

Insiders Place Their Bets

In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the completion of the sale, the director now directly owns 70,938 shares in the company, valued at approximately $1,340,728.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the completion of the transaction, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction dated 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 sale, the director now owns 70,938 shares in the company, valued at $1,155,580.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 500,095 shares of company stock worth $8,876,548 in the last quarter. 4.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Grocery Outlet

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Grocery Outlet during the first quarter worth $25,000. Blue Trust Inc. boosted its holdings in shares of 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. Innealta Capital LLC bought a new stake in Grocery Outlet during the 2nd quarter worth $38,000. Capital Performance Advisors LLP acquired a new position in Grocery Outlet in the 3rd quarter worth about $32,000. Finally, Canada Pension Plan Investment Board bought a new position in Grocery Outlet in the second quarter valued at about $82,000. 99.87% of the stock is owned by institutional investors and hedge funds.

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.