Grocery Outlet (NYSE:GO) had its target price hoisted by Jefferies Financial Group from $41.00 to $50.00 in a research report report published on Wednesday morning, The Fly reports. They currently have a buy rating on the stock. Jefferies Financial Group also issued estimates for Grocery Outlet’s Q3 2019 earnings at $0.18 EPS, Q4 2019 earnings at $0.18 EPS and FY2019 earnings at $0.71 EPS.

GO has been the subject of several other reports. Guggenheim assumed coverage on Grocery Outlet in a report on Monday, July 15th. They issued a neutral rating for the company. Bank of America boosted their target price on Grocery Outlet from $37.00 to $40.00 and gave the stock a neutral rating in a report on Wednesday. Cowen restated an outperform rating and issued a $48.00 target price (up from $42.00) on shares of Grocery Outlet in a report on Wednesday. Morgan Stanley started coverage on Grocery Outlet in a report on Monday, July 15th. They issued an equal weight rating and a $30.00 target price for the company. Finally, Barclays started coverage on Grocery Outlet in a research report on Monday, July 15th. They issued an equal weight rating and a $32.00 price target on the stock. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Grocery Outlet currently has an average rating of Hold and an average price target of $40.00.

GO opened at $46.64 on Wednesday. The stock has a 50 day moving average of $36.39. Grocery Outlet has a twelve month low of $27.75 and a twelve month high of $47.30.

Grocery Outlet (NYSE:GO) last posted its earnings results on Tuesday, August 13th. The company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.07. The company had revenue of $645.30 million during the quarter, compared to analyst estimates of $626.60 million. The business’s quarterly revenue was up 12.2% on a year-over-year basis.

In other Grocery Outlet news, SVP Steven K. Wilson purchased 20,000 shares of the company’s stock in a transaction on Monday, June 24th. The shares were bought at an average cost of $22.00 per share, with a total value of $440,000.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey York acquired 25,000 shares of the stock in a transaction dated Monday, June 24th. The shares were purchased at an average price of $22.00 per share, for a total transaction of $550,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 58,530 shares of company stock worth $1,287,660.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. bought a new stake in shares of Grocery Outlet during the second quarter valued at approximately $30,000. Tower Research Capital LLC TRC bought a new stake in shares of Grocery Outlet during the second quarter valued at approximately $43,000. First Mercantile Trust Co. bought a new stake in shares of Grocery Outlet during the second quarter valued at approximately $53,000. Victory Capital Management Inc. bought a new stake in shares of Grocery Outlet during the second quarter valued at approximately $132,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Grocery Outlet during the second quarter valued at approximately $147,000.

About Grocery Outlet

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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Analyst Recommendations for Grocery Outlet (NYSE:GO)

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