Grocery Outlet (NASDAQ:GO) Price Target Lowered to $20.00 at Roth Mkm

Grocery Outlet (NASDAQ:GO) had its target price decreased by stock analysts at Roth Mkm from $22.00 to $20.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Roth Mkm’s price target indicates a potential upside of 2.25% from the company’s previous close.

A number of other analysts also recently weighed in on GO. Telsey Advisory Group decreased their target price on shares of Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday. The Goldman Sachs Group decreased their target price on shares of Grocery Outlet from $24.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, May 9th. UBS Group decreased their target price on shares of Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Wells Fargo & Company started coverage on shares of Grocery Outlet in a research report on Thursday, July 18th. They set an “overweight” rating and a $28.00 target price for the company. Finally, TD Cowen decreased their target price on shares of Grocery Outlet from $43.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $25.40.

Grocery Outlet Price Performance

Shares of GO stock traded up $1.02 on Wednesday, reaching $19.56. The company had a trading volume of 3,681,066 shares, compared to its average volume of 1,730,251. The stock has a market capitalization of $1.95 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 3.55 and a beta of 0.09. The company has a quick ratio of 0.30, a current ratio of 1.25 and a debt-to-equity ratio of 0.23. Grocery Outlet has a one year low of $18.16 and a one year high of $36.54. The business’s 50-day moving average is $20.95 and its 200 day moving average is $24.00.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a net margin of 1.60% and a return on equity of 5.46%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business earned $0.23 EPS. Equities research analysts forecast that Grocery Outlet will post 0.69 EPS for the current fiscal year.

Insider Activity

In other Grocery Outlet news, Director Erik D. Ragatz purchased 100,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was acquired at an average price of $20.91 per share, for a total transaction of $2,091,000.00. Following the purchase, the director now owns 429,785 shares of the company’s stock, valued at approximately $8,986,804.35. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Grocery Outlet news, Director Erik D. Ragatz purchased 100,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was acquired at an average price of $20.91 per share, for a total transaction of $2,091,000.00. Following the purchase, the director now owns 429,785 shares of the company’s stock, valued at approximately $8,986,804.35. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Luke D. Thompson sold 1,332 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $22.43, for a total transaction of $29,876.76. Following the sale, the executive vice president now owns 32,306 shares of the company’s stock, valued at approximately $724,623.58. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Grocery Outlet

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Treasurer of the State of North Carolina lifted its holdings in Grocery Outlet by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 42,093 shares of the company’s stock valued at $1,135,000 after purchasing an additional 410 shares during the last quarter. Versor Investments LP lifted its holdings in Grocery Outlet by 1.5% during the fourth quarter. Versor Investments LP now owns 37,341 shares of the company’s stock valued at $1,007,000 after purchasing an additional 550 shares during the last quarter. State of Michigan Retirement System lifted its holdings in Grocery Outlet by 2.5% during the first quarter. State of Michigan Retirement System now owns 24,380 shares of the company’s stock valued at $702,000 after purchasing an additional 600 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in Grocery Outlet by 2.5% during the first quarter. Louisiana State Employees Retirement System now owns 28,600 shares of the company’s stock valued at $823,000 after purchasing an additional 700 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Grocery Outlet during the first quarter valued at about $25,000. 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.