Grocery Outlet Holding Corp. (NASDAQ:GO) Given Average Rating of "Hold" by Brokerages

Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) has been given a consensus recommendation of "Hold" by the fourteen research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $15.62.

A number of brokerages have recently commented on GO. Morgan Stanley dropped their price target on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a research note on Wednesday, February 26th. The Goldman Sachs Group lowered their target price on Grocery Outlet from $14.00 to $11.00 and set a "sell" rating for the company in a report on Thursday, February 27th. Bank of America cut their price target on Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company boosted their price target on Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 price objective for the company. in a research note on Wednesday, February 26th.

Insider Activity at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz acquired 19,000 shares of the stock in a transaction dated Friday, May 9th. The stock was purchased at an average cost of $14.46 per share, with a total value of $274,740.00. Following the transaction, the director now owns 19,000 shares in the company, valued at approximately $274,740. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 4.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Grocery Outlet

Large investors have recently added to or reduced their stakes in the business. Amundi increased its stake in Grocery Outlet by 0.6% in the fourth quarter. Amundi now owns 116,139 shares of the company's stock valued at $1,895,000 after purchasing an additional 719 shares in the last quarter. Cedar Wealth Management LLC grew its stake in shares of Grocery Outlet by 3.9% in the 4th quarter. Cedar Wealth Management LLC now owns 20,370 shares of the company's stock valued at $318,000 after buying an additional 765 shares during the period. US Bancorp DE grew its stake in shares of Grocery Outlet by 64.2% in the 1st quarter. US Bancorp DE now owns 3,024 shares of the company's stock valued at $42,000 after buying an additional 1,182 shares during the period. Integrated Wealth Concepts LLC increased its position in Grocery Outlet by 9.6% in the 4th quarter. Integrated Wealth Concepts LLC now owns 15,671 shares of the company's stock valued at $245,000 after buying an additional 1,377 shares in the last quarter. Finally, Guggenheim Capital LLC increased its position in Grocery Outlet by 9.1% in the 4th quarter. Guggenheim Capital LLC now owns 16,955 shares of the company's stock valued at $265,000 after buying an additional 1,408 shares in the last quarter. Institutional investors and hedge funds own 99.87% of the company's stock.

Grocery Outlet Price Performance

Grocery Outlet stock traded up $0.14 during midday trading on Friday, reaching $13.63. The company's stock had a trading volume of 4,534,595 shares, compared to its average volume of 2,517,040. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The stock has a market cap of $1.34 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 9.08 and a beta of 0.32. Grocery Outlet has a 52 week low of $10.26 and a 52 week high of $22.55. The business has a 50-day moving average price of $14.50 and a 200-day moving average price of $15.35.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.06. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $0.09 EPS. On average, sell-side analysts predict that Grocery Outlet will post 0.63 EPS for the current year.

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.