Grocery Outlet (NYSE:GO) issued its earnings results on Tuesday. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.07, Briefing.com reports. The company had revenue of $645.30 million for the quarter, compared to analysts’ expectations of $626.60 million. Grocery Outlet’s quarterly revenue was up 12.2% compared to the same quarter last year. Grocery Outlet updated its FY 2019 guidance to $0.68-0.71 EPS and its FY19 guidance to $0.68-0.71 EPS.

GO stock opened at $37.60 on Wednesday. The company has a 50-day moving average price of $35.74. Grocery Outlet has a 1-year low of $27.75 and a 1-year high of $39.56.

Several analysts recently weighed in on GO shares. Deutsche Bank started coverage on Grocery Outlet in a report on Tuesday, July 16th. They issued a “buy” rating and a $40.00 price objective for the company. Goldman Sachs Group started coverage on Grocery Outlet in a report on Monday, July 15th. They issued a “neutral” rating and a $32.00 price objective for the company. Barclays started coverage on Grocery Outlet in a report on Monday, July 15th. They issued an “equal weight” rating and a $32.00 price objective for the company. Guggenheim started coverage on Grocery Outlet in a report on Monday, July 15th. They issued a “neutral” rating for the company. Finally, Bank of America started coverage on Grocery Outlet in a report on Monday, July 15th. They issued a “neutral” rating and a $37.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $37.50.

In other news, SVP Steven K. Wilson bought 20,000 shares of Grocery Outlet stock in a transaction on Monday, June 24th. The stock was acquired at an average cost of $22.00 per share, for a total transaction of $440,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey York bought 25,000 shares of Grocery Outlet stock in a transaction on Monday, June 24th. The stock was purchased at an average price of $22.00 per share, with a total value of $550,000.00. The disclosure for this purchase can be found here. Insiders acquired 58,530 shares of company stock valued at $1,287,660 over the last quarter.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. owns and operates a chain of grocery stores in the United States. The company offers products in various categories, such as grocery, dairy and deli, produce, refrigerated and frozen, floral, beer and wine, general merchandise, and health and beauty care, as well as fresh meat and seafood; and natural, organic, specialty, and healthy products.

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