Analysts Set Grocery Outlet Holding Corp. (NASDAQ:GO) PT at $16.27

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have been assigned a consensus rating of “Hold” from the thirteen research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $15.7273.

Several research analysts recently issued reports on the stock. Zacks Research upgraded shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 16th. DA Davidson dropped their price target on Grocery Outlet from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday. Morgan Stanley upgraded Grocery Outlet from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $13.00 to $16.00 in a report on Wednesday, August 6th. TD Cowen reduced their price objective on Grocery Outlet from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Wednesday, August 6th.

Grocery Outlet Stock Performance

Shares of GO opened at $12.15 on Tuesday. Grocery Outlet has a 12-month low of $10.26 and a 12-month high of $21.67. The company has a current ratio of 1.30, a quick ratio of 0.25 and a debt-to-equity ratio of 0.40. The company has a market cap of $1.19 billion, a PE ratio of -243.00, a price-to-earnings-growth ratio of 2.74 and a beta of 0.33. The stock has a 50-day moving average price of $15.94 and a 200-day moving average price of $15.16.

Grocery Outlet (NASDAQ:GO) last announced its earnings results on Tuesday, November 4th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Grocery Outlet had a negative net margin of 0.10% and a positive return on equity of 5.86%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the firm posted $0.28 earnings per share. Grocery Outlet’s quarterly revenue was up 5.4% on a year-over-year basis. Grocery Outlet has set its FY 2025 guidance at 0.780-0.80 EPS. As a group, equities analysts forecast that Grocery Outlet will post 0.63 earnings per share for the current fiscal year.

Insider Activity at Grocery Outlet

In other news, EVP Steven K. Wilson sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $18.24, for a total value of $91,200.00. Following the completion of the sale, the executive vice president directly owned 141,923 shares in the company, valued at approximately $2,588,675.52. The trade was a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

Several institutional investors have recently added to or reduced their stakes in GO. Parallel Advisors LLC increased its position in shares of Grocery Outlet by 213.5% in the second quarter. Parallel Advisors LLC now owns 2,025 shares of the company’s stock valued at $25,000 after acquiring an additional 1,379 shares during the period. Bayforest Capital Ltd purchased a new stake in shares of Grocery Outlet during the third quarter worth about $29,000. Hantz Financial Services Inc. grew its stake in shares of Grocery Outlet by 591.5% in the third quarter. Hantz Financial Services Inc. now owns 2,033 shares of the company’s stock worth $33,000 after purchasing an additional 1,739 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Grocery Outlet by 32.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company’s stock valued at $37,000 after purchasing an additional 719 shares during the period. Finally, US Bancorp DE increased its holdings in Grocery Outlet by 64.2% during the 1st quarter. US Bancorp DE now owns 3,024 shares of the company’s stock valued at $42,000 after purchasing an additional 1,182 shares during the period. 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.