Bank of America Cuts Grocery Outlet (NASDAQ:GO) Price Target to $17.00

Grocery Outlet (NASDAQ:GO) had its price target decreased by Bank of America from $20.00 to $17.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price target points to a potential upside of 8.01% from the stock’s current price.

Several other analysts have also issued reports on the stock. Craig Hallum reduced their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Wells Fargo & Company reduced their price objective on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a research report on Wednesday. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $18.00 target price on shares of Grocery Outlet in a report on Wednesday, January 22nd. Finally, TD Cowen lowered Grocery Outlet from a “buy” rating to a “hold” rating and dropped their price target for the stock from $25.00 to $16.00 in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Grocery Outlet presently has an average rating of “Hold” and an average target price of $16.55.

Grocery Outlet Stock Down 0.4 %

Shares of NASDAQ:GO opened at $15.74 on Wednesday. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 9.08 and a beta of 0.32. The business’s 50 day moving average is $16.26 and its 200 day moving average is $17.18. Grocery Outlet has a 12-month low of $13.60 and a 12-month high of $29.19. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34.

Institutional Trading of Grocery Outlet

Several hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Grocery Outlet by 8.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 313,642 shares of the company’s stock worth $4,896,000 after purchasing an additional 23,606 shares in the last quarter. Voloridge Investment Management LLC grew its stake in Grocery Outlet by 28.8% in the 4th quarter. Voloridge Investment Management LLC now owns 1,239,352 shares of the company’s stock valued at $19,346,000 after buying an additional 277,489 shares in the last quarter. Twinbeech Capital LP bought a new stake in Grocery Outlet during the 4th quarter valued at $4,040,000. Two Sigma Advisers LP purchased a new stake in shares of Grocery Outlet during the fourth quarter worth $1,033,000. Finally, Two Sigma Investments LP boosted its holdings in shares of Grocery Outlet by 188.3% in the fourth quarter. Two Sigma Investments LP now owns 396,445 shares of the company’s stock worth $6,189,000 after acquiring an additional 258,913 shares during the period. 99.87% of the stock is currently 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.