Analysts Set Grocery Outlet Holding Corp. (NASDAQ:GO) Target Price at $16.33

Grocery Outlet Holding Corp. (NASDAQ:GO) has received an average rating of “Hold” from the thirteen ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $16.3333.

A number of research analysts have issued reports on GO shares. Weiss Ratings reissued a “sell (d)” rating on shares of Grocery Outlet in a research report on Wednesday, October 8th. Craig Hallum raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Wednesday, August 6th. Telsey Advisory Group raised shares of Grocery Outlet from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $16.00 to $20.00 in a research report on Wednesday, October 1st. Finally, Morgan Stanley raised shares of Grocery Outlet from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $13.00 to $16.00 in a research report on Wednesday, August 6th.

Grocery Outlet Trading Down 0.5%

NASDAQ:GO opened at $15.39 on Friday. The company has a fifty day moving average of $17.16 and a 200 day moving average of $15.09. Grocery Outlet has a 52 week low of $10.26 and a 52 week high of $21.67. The company has a quick ratio of 0.25, a current ratio of 1.21 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $1.51 billion, a P/E ratio of 219.89, a P/E/G ratio of 3.25 and a beta of 0.29.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Grocery Outlet had a net margin of 0.18% and a return on equity of 6.34%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. On average, research analysts predict that Grocery Outlet will post 0.63 earnings per share for the current year.

Insider Buying and Selling at Grocery Outlet

In other news, EVP Steven K. Wilson sold 5,000 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $18.24, for a total value of $91,200.00. Following the sale, the executive vice president directly owned 141,923 shares of the company’s stock, valued at $2,588,675.52. This represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of Grocery Outlet

Hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC grew its position in shares of Grocery Outlet by 213.5% in the 2nd quarter. Parallel Advisors LLC now owns 2,025 shares of the company’s stock worth $25,000 after buying an additional 1,379 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Grocery Outlet by 32.3% in the 2nd 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 during the period. US Bancorp DE grew its position in shares of Grocery Outlet by 64.2% in the 1st quarter. US Bancorp DE now owns 3,024 shares of the company’s stock worth $42,000 after buying an additional 1,182 shares during the period. GAMMA Investing LLC grew its position in shares of Grocery Outlet by 236.0% in the 1st quarter. GAMMA Investing LLC now owns 5,188 shares of the company’s stock worth $73,000 after buying an additional 3,644 shares during the period. Finally, AlphaQuest LLC grew its position in shares of Grocery Outlet by 327.7% in the 2nd quarter. AlphaQuest LLC now owns 5,761 shares of the company’s stock worth $72,000 after buying an additional 4,414 shares during the period. 99.87% of the stock is owned by hedge funds and other institutional investors.

About Grocery Outlet

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.