The Goldman Sachs Group Has Lowered Expectations for Grocery Outlet (NASDAQ:GO) Stock Price

Grocery Outlet (NASDAQ:GO) had its target price dropped by research analysts at The Goldman Sachs Group from $14.00 to $11.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s target price points to a potential downside of 4.53% from the stock’s current price.

A number of other equities research analysts have also recently commented on GO. Morgan Stanley decreased their target price on shares of Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research report on Wednesday. UBS Group cut their target price on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Bank of America cut their target price on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Roth Mkm decreased their price objective on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Grocery Outlet currently has an average rating of “Hold” and a consensus price target of $15.25.

Grocery Outlet Stock Performance

Shares of NASDAQ GO traded up $0.53 during trading on Thursday, reaching $11.52. 2,160,073 shares of the company traded hands, compared to its average volume of 2,316,988. The stock has a market capitalization of $1.12 billion, a PE ratio of 22.67, a P/E/G ratio of 9.08 and a beta of 0.32. Grocery Outlet has a 52-week low of $10.26 and a 52-week high of $29.19. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The firm has a 50 day simple moving average of $16.14 and a 200-day simple moving average of $17.14.

Hedge Funds Weigh In On Grocery Outlet

Several hedge funds and other institutional investors have recently made changes to their positions in GO. Blue Trust Inc. lifted its stake in shares of Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after buying an additional 722 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Grocery Outlet during the 3rd quarter worth $32,000. Decker Retirement Planning Inc. purchased a new stake in shares of Grocery Outlet in the 4th quarter valued at approximately $31,000. Aster Capital Management DIFC Ltd acquired a new position in Grocery Outlet during the fourth quarter worth $41,000. Finally, Quadrant Capital Group LLC grew its position in Grocery Outlet by 276.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock valued at $43,000 after acquiring an additional 2,036 shares in 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.