UBS Group Cuts Grocery Outlet (NASDAQ:GO) Price Target to $16.00

Grocery Outlet (NASDAQ:GO) had its price target reduced by UBS Group from $18.00 to $16.00 in a research report released on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other brokerages have also commented on GO. TD Cowen lowered their price objective on shares of Grocery Outlet from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday. Telsey Advisory Group cut Grocery Outlet from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Craig Hallum raised Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Wednesday, August 6th. DA Davidson cut their price objective on Grocery Outlet from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Bank of America decreased their price objective on Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $15.73.

Grocery Outlet Stock Performance

NASDAQ:GO opened at $12.15 on Wednesday. The stock has a market cap of $1.19 billion, a P/E ratio of -243.00, a PEG ratio of 2.02 and a beta of 0.33. The company has a quick ratio of 0.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.40. The business’s 50-day moving average price is $15.82 and its two-hundred day moving average price is $15.13. Grocery Outlet has a twelve month low of $10.26 and a twelve month high of $21.67.

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

Insider Buying and Selling at Grocery Outlet

In other news, EVP Steven K. Wilson sold 5,000 shares of the business’s stock in a transaction dated Friday, August 15th. The stock was 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 owned 141,923 shares of the company’s stock, valued at approximately $2,588,675.52. The trade was a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

Several large investors have recently added to or reduced their stakes in GO. Heartland Advisors Inc. purchased a new position in Grocery Outlet during the 3rd quarter valued at $4,448,000. PNC Financial Services Group Inc. lifted its position in shares of Grocery Outlet by 62.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,788 shares of the company’s stock worth $77,000 after purchasing an additional 1,846 shares during the period. Public Sector Pension Investment Board boosted its stake in shares of Grocery Outlet by 14.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 382,696 shares of the company’s stock valued at $6,142,000 after purchasing an additional 48,472 shares in the last quarter. LSV Asset Management purchased a new position in shares of Grocery Outlet during the third quarter valued at about $340,000. Finally, Savant Capital LLC bought a new position in Grocery Outlet in the third quarter worth about $517,000. 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.