Craig-Hallum Issues a Buy Rating on Grocery Outlet Holding (GO)

Craig-Hallum analyst Jeremy Hamblin assigned a Buy rating to the stock today. The company’s shares closed yesterday at $28.67.

Hamblin covers the Consumer Cyclical sector, focusing on stocks such as Citi Trends, Potbelly, and Carrols Restaurant Group. According to TipRanks, Hamblin has an average return of 10.3% and a 56.09% success rate on recommended stocks.

The word on The Street in general, suggests a Hold analyst consensus rating for Grocery Outlet Holding with a $30.71 average price target.

Based on Grocery Outlet Holding’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1 billion and a net profit of $27.14 million. In comparison, last year the company earned a revenue of $918.19 million and had a net profit of $17.5 million

Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GO in relation to earlier this year. Last month, Steven K. Wilson, the EVP, Chief Purchasing Officer of GO sold 62,017.00 shares for a total of $1,730,074.77.

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Grocery Outlet Holding (GO) Company Description:

Grocery Outlet Holding Corp. engages in the operation of retail stores. It offers name-brand consumables and fresh products through a network of independently operated stores. The company was founded by Jim Read in 1946 and is headquartered in Emeryville, CA.