Grocery Outlet Holding Corp. (NASDAQ:GO) Receives Consensus Rating of “Hold” from Brokerages

Grocery Outlet Holding Corp. (NASDAQ:GO) has been given an average rating of “Hold” by the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $14.50.

Several research analysts have recently commented on the stock. DA Davidson restated a “neutral” rating and set a $15.00 price target on shares of Grocery Outlet in a research note on Thursday, December 4th. Morgan Stanley lowered their target price on shares of Grocery Outlet from $14.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. Weiss Ratings restated a “sell (d)” rating on shares of Grocery Outlet in a report on Thursday, January 22nd. Wells Fargo & Company decreased their price target on Grocery Outlet from $19.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, December 19th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $17.00 price objective on shares of Grocery Outlet in a report on Wednesday, December 3rd.

Grocery Outlet Trading Up 2.0%

Shares of NASDAQ GO opened at $10.28 on Thursday. The business has a 50 day simple moving average of $9.96 and a 200 day simple moving average of $13.32. Grocery Outlet has a 52 week low of $8.96 and a 52 week high of $19.41. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -205.60, a PEG ratio of 2.05 and a beta of 0.49. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.25 and a current ratio of 1.30.

Institutional Trading of Grocery Outlet

A number of institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in shares of Grocery Outlet by 5.8% during the 1st quarter. Royal Bank of Canada now owns 122,565 shares of the company’s stock worth $1,713,000 after buying an additional 6,736 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Grocery Outlet by 14.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 357,856 shares of the company’s stock valued at $5,003,000 after acquiring an additional 44,214 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Grocery Outlet in the second quarter valued at about $361,000. Inspire Investing LLC increased its stake in shares of Grocery Outlet by 27.5% in the second quarter. Inspire Investing LLC now owns 31,440 shares of the company’s stock worth $390,000 after purchasing an additional 6,788 shares during the period. Finally, CWM LLC lifted its position in shares of Grocery Outlet by 883.6% during the 2nd quarter. CWM LLC now owns 14,872 shares of the company’s stock worth $185,000 after purchasing an additional 13,360 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

About Grocery Outlet

Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.

The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.