Analysts Set Grocery Outlet Holding Corp. (NASDAQ:GO) PT at $31.44

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have earned an average rating of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $31.44.

Several equities analysts have recently commented on GO shares. Telsey Advisory Group reduced their price target on shares of Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. UBS Group decreased their target price on Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Finally, Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Wednesday, February 28th.

Grocery Outlet Price Performance

Shares of NASDAQ:GO opened at $25.71 on Friday. The company has a market cap of $2.57 billion, a P/E ratio of 32.54, a P/E/G ratio of 2.47 and a beta of 0.13. The business has a fifty day simple moving average of $26.95 and a 200-day simple moving average of $27.10. Grocery Outlet has a 52 week low of $23.41 and a 52 week high of $36.54. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 0.24.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $989.82 million for the quarter, compared to the consensus estimate of $982.44 million. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. Equities research analysts forecast that Grocery Outlet will post 0.95 EPS for the current year.

Insider Transactions at Grocery Outlet

In related news, Director Thomas F. Herman sold 2,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $29.00, for a total transaction of $58,000.00. Following the completion of the sale, the director now directly owns 11,400 shares in the company, valued at $330,600. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Thomas F. Herman sold 1,000 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total transaction of $29,000.00. Following the transaction, the director now owns 10,400 shares in the company, valued at approximately $301,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas F. Herman sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $29.00, for a total value of $58,000.00. Following the transaction, the director now owns 11,400 shares in the company, valued at $330,600. The disclosure for this sale can be found here. Insiders sold 506,588 shares of company stock valued at $13,367,577 over the last three months. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of Grocery Outlet

Hedge funds have recently added to or reduced their stakes in the business. Geneva Capital Management LLC increased its stake in Grocery Outlet by 0.3% during the first quarter. Geneva Capital Management LLC now owns 1,377,552 shares of the company’s stock valued at $39,646,000 after acquiring an additional 4,174 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of Grocery Outlet during the first quarter valued at $127,000. Capstone Investment Advisors LLC lifted its holdings in shares of Grocery Outlet by 161.1% during the first quarter. Capstone Investment Advisors LLC now owns 93,188 shares of the company’s stock valued at $2,682,000 after acquiring an additional 57,496 shares during the period. Oak Ridge Investments LLC increased its position in shares of Grocery Outlet by 1.2% during the 1st quarter. Oak Ridge Investments LLC now owns 73,820 shares of the company’s stock worth $2,125,000 after purchasing an additional 876 shares in the last quarter. Finally, Norden Group LLC bought a new position in Grocery Outlet during the 1st quarter valued at about $442,000. 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.