Grocery Outlet Holding Corp. (NASDAQ:GO) Receives $14.50 Consensus Price Target from Brokerages

Grocery Outlet Holding Corp. (NASDAQ:GO) has earned a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $14.50.

Several research firms have commented on GO. Bank of America dropped their price objective on shares of Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Morgan Stanley lowered their price target on shares of Grocery Outlet from $14.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Grocery Outlet in a report on Wednesday, December 3rd. DA Davidson reiterated a “neutral” rating and issued a $15.00 price objective on shares of Grocery Outlet in a research note on Thursday, December 4th. Finally, UBS Group reissued a “neutral” rating and set a $11.50 target price on shares of Grocery Outlet in a report on Thursday, December 18th.

Grocery Outlet Trading Down 0.4%

NASDAQ:GO opened at $9.55 on Friday. Grocery Outlet has a 12 month low of $8.96 and a 12 month high of $19.41. The company has a current ratio of 1.30, a quick ratio of 0.25 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average is $10.42 and its 200 day moving average is $13.82. The stock has a market capitalization of $937.24 million, a PE ratio of -191.00, a price-to-earnings-growth ratio of 1.91 and a beta of 0.47.

Grocery Outlet (NASDAQ:GO) last released its earnings results on Tuesday, November 4th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. Grocery Outlet had a positive return on equity of 5.86% and a negative net margin of 0.10%.The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the business posted $0.28 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Grocery Outlet has set its FY 2025 guidance at 0.780-0.80 EPS. Sell-side analysts expect that Grocery Outlet will post 0.63 earnings per share for the current year.

Insider Activity

In related news, EVP Steven K. Wilson sold 25,000 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $12.53, for a total transaction of $313,250.00. Following the sale, the executive vice president owned 116,923 shares of the company’s stock, valued at approximately $1,465,045.19. This represents a 17.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

A number of institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its position in Grocery Outlet by 32.3% during the second quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company’s stock worth $37,000 after buying an additional 719 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Grocery Outlet by 1.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 72,087 shares of the company’s stock valued at $895,000 after acquiring an additional 739 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Grocery Outlet by 5.1% during the 2nd quarter. Bank of Montreal Can now owns 16,525 shares of the company’s stock valued at $205,000 after acquiring an additional 803 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Grocery Outlet by 3.5% during the third quarter. Amalgamated Bank now owns 28,875 shares of the company’s stock worth $463,000 after purchasing an additional 967 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Grocery Outlet by 213.5% in the second quarter. Parallel Advisors LLC now owns 2,025 shares of the company’s stock worth $25,000 after purchasing an additional 1,379 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

About Grocery Outlet

Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.

The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.