Analysts Set Grocery Outlet Holding Corp. (NASDAQ:GO) Target Price at $22.75

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have been given an average rating of “Hold” by the nine ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $22.75.

GO has been the subject of a number of recent analyst reports. Wells Fargo & Company initiated coverage on shares of Grocery Outlet in a research report on Thursday, July 18th. They set an “overweight” rating and a $28.00 price target for the company. Roth Capital raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Craig Hallum lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and cut their target price for the company from $32.00 to $20.00 in a research note on Wednesday, July 31st. Roth Mkm decreased their price target on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, UBS Group cut their price objective on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th.

Grocery Outlet Stock Performance

Grocery Outlet stock opened at $16.49 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.29. The firm’s fifty day moving average price is $19.40 and its 200 day moving average price is $22.73. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 25.77, a price-to-earnings-growth ratio of 3.31 and a beta of 0.10. Grocery Outlet has a 12-month low of $16.33 and a 12-month high of $30.48.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The company’s revenue was up 11.7% compared to the same quarter last year. On average, research analysts forecast that Grocery Outlet will post 0.68 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $18.44, for a total value of $1,844,000.00. Following the sale, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,308,096.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 300,000 shares of company stock valued at $5,617,000 over the last quarter. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in Grocery Outlet during the 1st quarter valued at $25,000. Innealta Capital LLC acquired a new stake in Grocery Outlet in the second quarter worth about $38,000. Canada Pension Plan Investment Board bought a new position in Grocery Outlet in the 2nd quarter valued at about $82,000. Daiwa Securities Group Inc. acquired a new position in Grocery Outlet during the 1st quarter valued at about $127,000. Finally, Quest Partners LLC bought a new stake in shares of Grocery Outlet during the 4th quarter worth about $193,000. 99.87% of the stock is owned by institutional investors and hedge funds.

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.