Grocery Outlet (NASDAQ:GO) Trading Up 3.9% - What's Next?

Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) shares rose 3.9% during trading on Friday . The company traded as high as $13.68 and last traded at $13.70. Approximately 1,102,157 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 2,524,255 shares. The stock had previously closed at $13.19.

Analyst Upgrades and Downgrades

Several analysts recently commented on GO shares. Morgan Stanley reduced their target price on shares of Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a report on Wednesday, February 26th. Jefferies Financial Group raised shares of Grocery Outlet from a "hold" rating to a "buy" rating and lifted their price target for the company from $13.00 to $18.00 in a report on Wednesday, April 16th. Bank of America reduced their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 target price on the stock. in a research report on Wednesday, February 26th. Finally, Telsey Advisory Group restated a "market perform" rating and set a $16.00 price objective on shares of Grocery Outlet in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Grocery Outlet has an average rating of "Hold" and a consensus target price of $15.62.

Grocery Outlet Trading Down 5.0%

The stock has a market cap of $1.27 billion, a P/E ratio of 25.39, a PEG ratio of 9.08 and a beta of 0.32. The stock's fifty day moving average price is $14.47 and its 200 day moving average price is $15.09. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34.

Grocery Outlet (NASDAQ:GO - Get Free Report) last issued its quarterly earnings data 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 net margin of 1.20% and a return on equity of 5.25%. The firm had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter in the prior year, the business earned $0.09 EPS. The business's quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts expect that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz bought 19,000 shares of Grocery Outlet stock in a transaction on Friday, May 9th. The shares were bought at an average price of $14.46 per share, for a total transaction of $274,740.00. Following the completion of the transaction, the director now directly owns 19,000 shares of the company's stock, valued at $274,740. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of Grocery Outlet

Several institutional investors and hedge funds have recently added to or reduced their stakes in GO. Aster Capital Management DIFC Ltd acquired a new stake in shares of Grocery Outlet during the fourth quarter worth $41,000. Quadrant Capital Group LLC grew 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 worth $43,000 after purchasing an additional 2,036 shares in the last quarter. US Bancorp DE grew 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 worth $42,000 after purchasing an additional 1,182 shares in the last quarter. PNC Financial Services Group Inc. boosted 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 acquiring an additional 4,040 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Grocery Outlet by 236.0% during the first quarter. GAMMA Investing LLC now owns 5,188 shares of the company's stock valued at $73,000 after buying an additional 3,644 shares during the last quarter. 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.