Grocery Outlet’s (GO) “Market Perform” Rating Reiterated at Telsey Advisory Group

Grocery Outlet (NASDAQ:GO)‘s stock had its “market perform” rating restated by Telsey Advisory Group in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $18.00 target price on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 18.34% from the company’s previous close.

GO has been the topic of a number of other research reports. UBS Group dropped their target price on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft dropped their target price on Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Wells Fargo & Company dropped their price objective on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Bank of America downgraded Grocery Outlet from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $29.00 to $17.00 in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group dropped their price objective on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.00.

Grocery Outlet Trading Down 4.6 %

NASDAQ GO traded down $0.74 on Wednesday, hitting $15.21. 1,909,667 shares of the company were exchanged, compared to its average volume of 1,629,209. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. Grocery Outlet has a twelve month low of $13.60 and a twelve month high of $29.19. The firm has a market capitalization of $1.48 billion, a P/E ratio of 29.82, a price-to-earnings-growth ratio of 16.92 and a beta of 0.31. The company’s 50 day moving average price is $17.66 and its 200-day moving average price is $17.85.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. The business’s quarterly revenue was up 10.4% on a year-over-year basis. Analysts predict that Grocery Outlet will post 0.63 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Erik D. Ragatz bought 110,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $18.25 per share, with a total value of $2,007,500.00. Following the completion of the transaction, the director now directly owns 539,785 shares in the company, valued at $9,851,076.25. This trade represents a 25.59 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. raised its stake in Grocery Outlet by 1.8% during the third quarter. Franklin Resources Inc. now owns 29,987 shares of the company’s stock worth $526,000 after acquiring an additional 529 shares in the last quarter. Blue Trust Inc. raised its stake in Grocery Outlet by 76.6% during the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Grocery Outlet by 2.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 46,875 shares of the company’s stock worth $732,000 after acquiring an additional 1,240 shares in the last quarter. KBC Group NV raised its stake in Grocery Outlet by 62.7% during the fourth quarter. KBC Group NV now owns 4,506 shares of the company’s stock worth $70,000 after acquiring an additional 1,736 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Grocery Outlet during the third quarter worth $32,000. 99.87% of the stock is owned by 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.