Grocery Outlet (NASDAQ:GO) Earns Market Perform Rating from Telsey Advisory Group

Grocery Outlet (NASDAQ:GO)‘s stock had its “market perform” rating reaffirmed by Telsey Advisory Group in a report issued on Wednesday,Benzinga reports. They currently have a $18.00 price objective on the stock. Telsey Advisory Group’s price objective points to a potential upside of 19.13% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Roth Mkm dropped their price objective on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and lowered their price target for the company from $25.00 to $16.00 in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lowered their price target on Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Craig Hallum lowered their price target on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Finally, Bank of America downgraded Grocery Outlet from a “buy” rating to a “neutral” rating and lowered their price target for the company from $29.00 to $17.00 in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.00.

Grocery Outlet Price Performance

NASDAQ:GO opened at $15.11 on Wednesday. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 29.63, a P/E/G ratio of 16.92 and a beta of 0.31. Grocery Outlet has a 52-week low of $13.60 and a 52-week high of $29.19. The stock has a fifty day moving average of $17.58 and a 200 day moving average of $17.83. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. On average, research analysts expect that Grocery Outlet will post 0.63 EPS for the current fiscal year.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz purchased 110,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the acquisition, the director now directly owns 539,785 shares in the company, valued at approximately $9,851,076.25. This trade represents a 25.59 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. boosted its position in Grocery Outlet by 1.8% during the 3rd quarter. Franklin Resources Inc. now owns 29,987 shares of the company’s stock valued at $526,000 after acquiring an additional 529 shares in the last quarter. Blue Trust Inc. raised its holdings in Grocery Outlet by 76.6% in the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Grocery Outlet by 2.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 46,875 shares of the company’s stock worth $732,000 after acquiring an additional 1,240 shares during the last quarter. KBC Group NV raised its holdings in Grocery Outlet by 62.7% in the 4th quarter. KBC Group NV now owns 4,506 shares of the company’s stock worth $70,000 after acquiring an additional 1,736 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Grocery Outlet in the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.

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.