Grocery Outlet (NYSE:GO) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.68-0.71 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.59. The company issued revenue guidance of $2.5-2.53 billion, compared to the consensus revenue estimate of $2.51 billion.

Several research firms have weighed in on GO. Guggenheim began coverage on shares of Grocery Outlet in a research note on Monday, July 15th. They issued a neutral rating for the company. Jefferies Financial Group began coverage on shares of Grocery Outlet in a research note on Monday, July 15th. They issued a buy rating and a $41.00 price target for the company. Bank of America began coverage on shares of Grocery Outlet in a research note on Monday, July 15th. They issued a neutral rating and a $37.00 price target for the company. Morgan Stanley began coverage on shares of Grocery Outlet in a research note on Monday, July 15th. They issued an equal weight rating and a $30.00 price target for the company. Finally, Telsey Advisory Group began coverage on shares of Grocery Outlet in a research note on Monday, July 15th. They issued an outperform rating and a $40.00 price target for the company. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Grocery Outlet presently has a consensus rating of Hold and an average target price of $36.75.

Shares of NYSE:GO traded up $0.06 during midday trading on Tuesday, hitting $37.60. 575,600 shares of the company’s stock were exchanged, compared to its average volume of 532,338. The business’s 50 day moving average price is $35.72. Grocery Outlet has a 12 month low of $27.75 and a 12 month high of $39.56.

In other news, CFO Charles Bracher acquired 2,610 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, with a total value of $57,420.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Robert Joseph Jr. Sheedy acquired 10,000 shares of Grocery Outlet stock in a transaction on Monday, June 24th. The stock was purchased at an average cost of $22.00 per share, with a total value of $220,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 58,530 shares of company stock valued at $1,287,660.

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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