Roth Mkm Cuts Grocery Outlet (NASDAQ:GO) Price Target to $16.00

Grocery Outlet (NASDAQ:GO) had its target price cut by Roth Mkm from $20.00 to $16.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday. Roth Capital upgraded shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. UBS Group reduced their price target on shares of Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their target price on Grocery Outlet from $29.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday. 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 report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Grocery Outlet presently has an average rating of “Hold” and an average target price of $18.17.

Grocery Outlet Trading Up 3.5 %

NASDAQ GO traded up $0.61 during trading on Wednesday, hitting $17.80. The company had a trading volume of 3,080,337 shares, compared to its average volume of 2,554,729. The company’s fifty day moving average is $16.55 and its 200-day moving average is $19.64. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 34.90, a price-to-earnings-growth ratio of 3.92 and a beta of 0.13. The company has a current ratio of 1.46, a quick ratio of 0.29 and a debt-to-equity ratio of 0.34. Grocery Outlet has a one year low of $13.60 and a one year high of $29.98.

Grocery Outlet (NASDAQ:GO) last announced its earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm 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 business’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 EPS. On average, sell-side analysts predict that Grocery Outlet will post 0.65 earnings per share for the current year.

Insider Transactions at Grocery Outlet

In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the transaction, the director now owns 70,938 shares in the company, valued at approximately $1,155,580.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the sale, the director now directly owns 70,938 shares in the company, valued at approximately $1,155,580.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the completion of the sale, the director now owns 70,938 shares in the company, valued at approximately $1,340,728.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 500,095 shares of company stock worth $8,876,548 in the last three months. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Grocery Outlet

Several institutional investors have recently made changes to their positions in GO. 12 West Capital Management LP grew its stake in Grocery Outlet by 383.3% in the first quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company’s stock valued at $104,328,000 after purchasing an additional 2,875,000 shares during the last quarter. Capital World Investors raised its stake in shares of Grocery Outlet by 281.4% during the 1st quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock worth $103,023,000 after acquiring an additional 2,641,016 shares in the last quarter. Millennium Management LLC lifted its position in Grocery Outlet by 677.6% during the second quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock valued at $43,832,000 after acquiring an additional 1,726,741 shares during the last quarter. Solel Partners LP acquired a new stake in Grocery Outlet in the second quarter valued at approximately $35,980,000. Finally, American Century Companies Inc. grew its holdings in Grocery Outlet by 889.9% in the second quarter. American Century Companies Inc. now owns 1,010,785 shares of the company’s stock worth $22,359,000 after purchasing an additional 908,680 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

About Grocery Outlet

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.