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

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) have been given an average recommendation of "Hold" by the fourteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $15.62.

Several research analysts have weighed in on GO shares. Deutsche Bank Aktiengesellschaft downgraded Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 target price on the stock. in a research note on Wednesday, February 26th. Telsey Advisory Group reiterated a "market perform" rating and issued a $16.00 target price on shares of Grocery Outlet in a research note on Wednesday, April 30th. UBS Group lifted their target price on Grocery Outlet from $14.50 to $17.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Bank of America lowered their target price 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. Finally, Morgan Stanley lowered their target price on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating on the stock in a research note on Wednesday, February 26th.

Grocery Outlet Price Performance

Shares of NASDAQ GO opened at $13.69 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. Grocery Outlet has a fifty-two week low of $10.26 and a fifty-two week high of $22.55. The firm has a market capitalization of $1.34 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 9.08 and a beta of 0.32. The stock's 50-day simple moving average is $14.51 and its 200-day simple moving average is $15.45.

Grocery Outlet (NASDAQ:GO - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.06. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the company earned $0.09 EPS. The business's quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts forecast that Grocery Outlet will post 0.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Erik D. Ragatz acquired 19,000 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was purchased at an average price of $14.46 per share, for a total transaction of $274,740.00. Following the transaction, the director now owns 19,000 shares in the company, valued at $274,740. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Steven K. Wilson sold 6,682 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $13.16, for a total transaction of $87,935.12. Following the completion of the transaction, the executive vice president now directly owns 166,923 shares of the company's stock, valued at $2,196,706.68. The trade was a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,906 shares of company stock worth $131,197. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GO. Aster Capital Management DIFC Ltd acquired a new position in Grocery Outlet in the fourth quarter valued at $41,000. Quadrant Capital Group LLC increased its stake in Grocery Outlet by 276.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company's stock valued at $43,000 after purchasing an additional 2,036 shares during the last quarter. US Bancorp DE increased its stake in Grocery Outlet by 64.2% in the first quarter. US Bancorp DE now owns 3,024 shares of the company's stock valued at $42,000 after purchasing an additional 1,182 shares during the last quarter. KBC Group NV increased its stake in Grocery Outlet by 62.7% in the fourth quarter. KBC Group NV now owns 4,506 shares of the company's stock valued at $70,000 after purchasing an additional 1,736 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Grocery Outlet by 472.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,896 shares of the company's stock valued at $76,000 after purchasing an additional 4,040 shares during the last quarter. Institutional investors and hedge funds 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.

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