Roth Mkm Issues Pessimistic Forecast for Grocery Outlet (NASDAQ:GO) Stock Price

Grocery Outlet (NASDAQ:GO) had its price objective reduced by investment analysts at Roth Mkm from $20.00 to $16.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Roth Mkm’s price objective would suggest a potential downside of 6.92% from the company’s current price.

GO has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft lowered 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. Bank of America downgraded Grocery Outlet from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $29.00 to $17.00 in a report on Wednesday, October 30th. UBS Group cut their target price on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Roth Capital upgraded shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Loop Capital began coverage on shares of Grocery Outlet in a report on Thursday, October 17th. They set a “hold” rating and a $17.00 price objective for the company. Two research analysts have 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 to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.17.

Grocery Outlet Trading Up 6.7 %

GO opened at $17.19 on Wednesday. The company’s 50 day moving average price is $16.59 and its two-hundred day moving average price is $19.72. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 33.63, a PEG ratio of 3.42 and a beta of 0.13. 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.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results 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 return on equity of 5.18% and a net margin of 1.30%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The business’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, research analysts predict that Grocery Outlet will post 0.66 earnings per share for the current year.

Insider Activity at Grocery Outlet

In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction on 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 directly owns 70,938 shares in the company, valued at approximately $1,340,728.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the completion of the sale, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now owns 70,938 shares of the company’s stock, valued at $1,340,728.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 500,095 shares of company stock worth $8,876,548. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Grocery Outlet by 0.7% during the first quarter. Vanguard Group Inc. now owns 9,333,850 shares of the company’s stock valued at $268,628,000 after buying an additional 60,830 shares during the last quarter. 12 West Capital Management LP lifted its stake in shares of Grocery Outlet by 383.3% in the 1st quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company’s stock valued at $104,328,000 after acquiring an additional 2,875,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Grocery Outlet by 22.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company’s stock valued at $79,933,000 after acquiring an additional 655,065 shares during the period. Capital World Investors grew its position in Grocery Outlet by 281.4% during the 1st quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock worth $103,023,000 after acquiring an additional 2,641,016 shares during the last quarter. Finally, Van Berkom & Associates Inc. increased its stake in Grocery Outlet by 21.1% in 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 period. Hedge funds and other institutional investors 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.