Shares of Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) have received an average recommendation of "Moderate Buy" from the eleven brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $43.80.
Several analysts have recently commented on the company. Cowen increased their price objective on Grocery Outlet from $45.00 to $53.00 in a report on Thursday, August 11th. Morgan Stanley lowered Grocery Outlet from an "equal weight" rating to an "underweight" rating and increased their price objective for the company from $29.00 to $33.00 in a report on Tuesday, August 23rd. Telsey Advisory Group increased their price objective on Grocery Outlet from $48.00 to $50.00 and gave the company an "outperform" rating in a report on Wednesday, August 10th. DA Davidson lowered Grocery Outlet from a "buy" rating to a "neutral" rating and increased their price objective for the company from $36.00 to $43.00 in a report on Wednesday, July 6th. They noted that the move was a valuation call. Finally, TheStreet upgraded Grocery Outlet from a "c" rating to a "b" rating in a research note on Tuesday, June 21st.
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Grocery Outlet Stock Down 0.2 %
Shares of NASDAQ:GO opened at $39.04 on Wednesday. Grocery Outlet has a 52-week low of $21.01 and a 52-week high of $46.37. The stock has a market cap of $3.78 billion, a P/E ratio of 69.71, a price-to-earnings-growth ratio of 4.25 and a beta of -0.23. The business's 50 day moving average is $42.86 and its 200 day moving average is $36.78. The company has a quick ratio of 0.42, a current ratio of 1.65 and a debt-to-equity ratio of 0.36.
Grocery Outlet (NASDAQ:GO – Get Rating) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.05. Grocery Outlet had a return on equity of 8.57% and a net
margin of 1.69%. The company had revenue of $897.70 million for the quarter, compared to analysts' expectations of $859.80 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. Grocery Outlet's revenue was up 15.8% compared to the same quarter last year. Sell-side analysts predict that Grocery Outlet will post 0.78 EPS for the current year.
Insider Buying and Selling
In related news, CEO Eric J. Jr. Lindberg sold 25,000 shares of Grocery Outlet stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $37.81, for a total value of $945,250.00. Following the sale, the chief executive officer now directly owns 76,114 shares in the company, valued at approximately $2,877,870.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Grocery Outlet news, CFO Charles Bracher sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $38.66, for a total value of $386,600.00. Following the transaction, the chief financial officer now directly owns 77,234 shares of the company's stock, valued at approximately $2,985,866.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric J. Jr. Lindberg sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $37.81, for a total transaction of $945,250.00. Following the completion of the transaction, the chief executive officer now directly owns 76,114 shares in the company, valued at $2,877,870.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 306,322 shares of company stock worth $12,828,518. Insiders own 11.20% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors raised its position in shares of Grocery Outlet by 58.1% during the 2nd quarter. Captrust Financial Advisors now owns 762 shares of the company's stock valued at $32,000 after buying an additional 280 shares during the period. James Investment Research Inc. purchased a new stake in shares of Grocery Outlet during the 2nd quarter valued at approximately $58,000. FNY Investment Advisers LLC purchased a new stake in shares of Grocery Outlet during the 2nd quarter valued at approximately $74,000. Nisa Investment Advisors LLC purchased a new stake in shares of Grocery Outlet during the 2nd quarter valued at approximately $129,000. Finally, Prospera Financial Services Inc purchased a new stake in shares of Grocery Outlet during the 2nd quarter valued at approximately $137,000. 98.42% of the stock is owned by hedge funds and other institutional investors.
Grocery Outlet Company Profile
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Grocery Outlet Holding Corp. owns and operates a network of independently operated stores in the United States. The company's stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine.
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