Grocery Outlet (GO) Stock Forecast, Price & News

9 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Grocery Outlet in the last twelve months. There are currently 1 sell rating, 4 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" GO shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in GO, but not buy additional shares or sell existing shares.
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9 Wall Street research analysts have issued twelve-month price targets for Grocery Outlet's shares. Their GO share price forecasts range from $25.00 to $53.00. On average, they anticipate the company's share price to reach $39.00 in the next year. This suggests a possible upside of 37.5% from the stock's current price.
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Grocery Outlet's stock was trading at $29.19 on January 1st, 2023. Since then, GO stock has decreased by 2.8% and is now trading at $28.36.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, August 8th 2023.
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Grocery Outlet Holding Corp. (NASDAQ:GO) announced its earnings results on Tuesday, May, 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.04. The business had revenue of $965.47 million for the quarter, compared to analyst estimates of $948.49 million. Grocery Outlet had a trailing twelve-month return on equity of 7.41% and a net margin of 1.81%.

ETFs with the largest weight of Grocery Outlet (NASDAQ:GO) stock in their portfolio include SPDR S&P Retail ETF (XRT), Direxion Daily Retail Bull 3X Shares (RETL), First Trust Consumer Staples AlphaDEX Fund (FXG), First Trust Horizon Managed Volatility Small/Mid ETF (HSMV), ETC 6 Meridian Low Beta Equity Strategy ETF (SIXL), Invesco S&P MidCap 400 Equal Weight ETF (EWMC), VictoryShares US Small Cap Volatility Wtd (CSA) and Syntax Stratified MidCap ETF (SMDY).

Grocery Outlet updated its FY23 earnings guidance on Tuesday, May, 9th. The company provided earnings per share guidance of $0.96-1.00 for the period, compared to the consensus estimate of $0.98. The company issued revenue guidance of approx. $3.9 billion, compared to the consensus revenue estimate of $3.89 billion.

142 employees have rated Grocery Outlet Chief Executive Officer Eric Lindberg/ MacGregor Read on Glassdoor.com. Eric Lindberg/ MacGregor Read has an approval rating of 93% among the company's employees. This puts Eric Lindberg/ MacGregor Read in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

(GO) raised $275 million in an IPO on Thursday, June 20th 2019. The company issued 17,200,000 shares at $15.00-$17.00 per share. BofA Merrill Lynch, Morgan Stanley, Deutsche Bank Securities, Jefferies, Barclays, Goldman Sachs, Guggenheim Securities, UBS Investment Bank and Cowen acted as the underwriters for the IPO and Telsey Advisory Group, Drexel Hamilton and Penserra Securities were co-managers.

Grocery Outlet trades on the NASDAQ under the ticker symbol "GO."

Grocery Outlet's stock is owned by many different retail and institutional investors. Top institutional shareholders include BlackRock Inc. (9.03%), Jackson Square Partners LLC (6.25%), Parnassus Investments LLC (6.17%), Mackenzie Financial Corp (4.87%), Providence Capital Advisors LLC (4.50%) and Bank of New York Mellon Corp (3.62%). Insiders that own company stock include Brian Mcandrews, Charles Bracher, Eric J Jr Lindberg, Eric J Jr Lindberg, Erik D Ragatz, Heather L Mayo, Jeffrey York, Lindsay E Gray, Luke D Thompson, Pamela B Burke, Robert Joseph Jr Sheedy, S Macgregor Jr Read, Steven K Wilson, Steven K Wilson, Thomas F Herman, Thomas F Herman and Thomas H Mcmahon.
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Shares of GO stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of GO stock can currently be purchased for approximately $28.36.

Grocery Outlet (NASDAQ:GO) has a market capitalization of $2.79 billion and generates $3.58 billion in revenue each year. The company earns $65.05 million in net income (profit) each year or $0.67 on an earnings per share basis.

The company employs 803 workers across the globe.

Grocery Outlet's mailing address is 5650 HOLLIS STREET, EMERYVILLE CA, 94608. The official website for the company is www.groceryoutlet.com. The company can be reached via phone at (510) 845-1999 or via email at investor.relations@groceryoutlet.com.