Grocery Outlet (NASDAQ:GO) Price Target Raised to $17.00

Grocery Outlet (NASDAQ:GO) had its target price lifted by UBS Group from $14.50 to $17.00 in a research report sent to investors on Wednesday morning, Marketbeat.com reports. UBS Group currently has a neutral rating on the stock.

A number of other equities research analysts have also issued reports on GO. Wells Fargo & Company upped their target price on shares of Grocery Outlet from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Wednesday. The Goldman Sachs Group dropped their price objective on shares of Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a research note on Thursday, February 27th. Morgan Stanley lowered their target price on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, February 26th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $16.00 price target on shares of Grocery Outlet in a report on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft lowered Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price objective on the stock. in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Grocery Outlet currently has a consensus rating of “Hold” and a consensus target price of $15.62.

Grocery Outlet Stock Performance

GO opened at $14.40 on Wednesday. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 9.08 and a beta of 0.42. The firm’s fifty day simple moving average is $14.11 and its two-hundred day simple moving average is $15.87. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. Grocery Outlet has a 52-week low of $10.26 and a 52-week high of $23.25.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.06. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Grocery Outlet’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 EPS. Equities analysts anticipate that Grocery Outlet will post 0.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Steven K. Wilson sold 6,682 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $13.16, for a total value of $87,935.12. Following the completion of the transaction, the executive vice president now owns 166,923 shares of the company’s stock, valued at approximately $2,196,706.68. This trade represents a 3.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Erik D. Ragatz bought 165,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $12.25 per share, for a total transaction of $2,021,250.00. Following the completion of the purchase, the director now owns 201,500 shares in the company, valued at $2,468,375. This trade represents a 452.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 200,000 shares of company stock worth $2,435,050 and have sold 17,756 shares worth $216,892. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Grocery Outlet

Hedge funds have recently bought and sold shares of the stock. Simcoe Capital Management LLC purchased a new position in shares of Grocery Outlet in the 4th quarter valued at about $53,185,000. Junto Capital Management LP purchased a new position in Grocery Outlet in the fourth quarter valued at approximately $39,128,000. Freestone Grove Partners LP acquired a new stake in Grocery Outlet during the fourth quarter worth approximately $13,602,000. FPR Partners LLC boosted its holdings in shares of Grocery Outlet by 15.2% in the 4th quarter. FPR Partners LLC now owns 5,991,474 shares of the company’s stock valued at $93,527,000 after buying an additional 791,474 shares in the last quarter. Finally, Senvest Management LLC grew its position in shares of Grocery Outlet by 88.3% in the 4th quarter. Senvest Management LLC now owns 1,569,656 shares of the company’s stock valued at $24,502,000 after buying an additional 735,931 shares during the last quarter. Institutional investors and hedge funds 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.