Brokerages Set Grocery Outlet Holding Corp. (NASDAQ:GO) Target Price at $22.75

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have been given a consensus rating of “Hold” by the nine ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $22.75.

GO has been the subject of a number of analyst reports. UBS Group lowered their price target on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Telsey Advisory Group lowered their price target on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Roth Mkm lowered their price target on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Wells Fargo & Company initiated coverage on 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, Craig Hallum downgraded Grocery Outlet from a “buy” rating to a “hold” rating and decreased their target price for the stock from $32.00 to $20.00 in a research report on Wednesday, July 31st.

Grocery Outlet Stock Down 2.2 %

NASDAQ GO opened at $16.95 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.29 and a current ratio of 1.29. The company has a market capitalization of $1.66 billion, a P/E ratio of 26.48, a P/E/G ratio of 3.31 and a beta of 0.10. Grocery Outlet has a one year low of $16.86 and a one year high of $30.72. The stock has a 50 day moving average price of $19.60 and a 200-day moving average price of $22.84.

Grocery Outlet (NASDAQ:GO) last posted its earnings results on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 EPS. As a group, equities analysts predict that Grocery Outlet will post 0.68 EPS for the current fiscal year.

Insider Transactions at Grocery Outlet

In other 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 transaction of $1,890,000.00. Following the sale, the director now owns 70,938 shares in the company, valued at $1,340,728.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 300,000 shares of company stock worth $5,617,000. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GO. Allspring Global Investments Holdings LLC purchased a new stake in shares of Grocery Outlet in the first quarter valued at approximately $25,000. Innealta Capital LLC purchased a new stake in shares of Grocery Outlet in the second quarter valued at approximately $38,000. Canada Pension Plan Investment Board purchased a new stake in shares of Grocery Outlet in the second quarter valued at approximately $82,000. Daiwa Securities Group Inc. purchased a new stake in shares of Grocery Outlet in the first quarter valued at approximately $127,000. Finally, Quest Partners LLC purchased a new stake in shares of Grocery Outlet in the fourth quarter valued at approximately $193,000. 99.87% of the stock is owned by institutional investors and hedge funds.

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.