TD Cowen Has Lowered Expectations for Grocery Outlet (NASDAQ:GO) Stock Price

Grocery Outlet (NASDAQ:GO) had its target price cut by analysts at TD Cowen from $18.00 to $16.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. TD Cowen’s target price would indicate a potential upside of 21.88% from the company’s previous close.

Several other research firms have also weighed in on GO. Morgan Stanley upgraded shares of Grocery Outlet from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $13.00 to $16.00 in a report on Wednesday, August 6th. Bank of America reduced their price target on Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday. DA Davidson set a $15.00 price target on shares of Grocery Outlet in a research note on Wednesday. Craig Hallum raised Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grocery Outlet in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.83.

Grocery Outlet Price Performance

Shares of GO traded down $1.04 during mid-day trading on Wednesday, hitting $13.13. 4,609,864 shares of the company traded hands, compared to its average volume of 3,137,460. Grocery Outlet has a one year low of $10.26 and a one year high of $21.67. The company has a current ratio of 1.21, a quick ratio of 0.25 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average of $16.17 and a 200 day moving average of $15.19. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 187.60, a PEG ratio of 3.01 and a beta of 0.33.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Grocery Outlet had a return on equity of 6.34% and a net margin of 0.18%.The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 EPS. Grocery Outlet has set its FY 2025 guidance at 0.780-0.80 EPS. As a group, equities analysts expect that Grocery Outlet will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Grocery Outlet

In other news, EVP Steven K. Wilson sold 5,000 shares of Grocery Outlet stock in a transaction on Friday, August 15th. The stock was sold at an average price of $18.24, for a total transaction of $91,200.00. Following the completion of the sale, the executive vice president owned 141,923 shares of the company’s stock, valued at approximately $2,588,675.52. This trade represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Savant Capital LLC acquired a new position in Grocery Outlet in the 3rd quarter valued at approximately $517,000. Hantz Financial Services Inc. increased its position in Grocery Outlet by 591.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,033 shares of the company’s stock valued at $33,000 after acquiring an additional 1,739 shares during the period. Van Berkom & Associates Inc. boosted its holdings in Grocery Outlet by 16.9% in the third quarter. Van Berkom & Associates Inc. now owns 3,757,022 shares of the company’s stock valued at $60,300,000 after acquiring an additional 543,535 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in Grocery Outlet in the third quarter valued at approximately $2,696,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Grocery Outlet in the third quarter valued at approximately $175,000. Institutional investors 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.