Goldman Sachs Group Initiates Coverage on Grocery Outlet (NYSE:GO)

Goldman Sachs Group began coverage on shares of Grocery Outlet (NYSE:GO) in a research note issued to investors on Monday morning, Benzinga reports. The brokerage issued a neutral rating and a $32.00 target price on the stock.

Separately, Telsey Advisory Group started coverage on Grocery Outlet in a report on Monday. They issued an outperform rating and a $40.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $36.75.

NYSE:GO opened at $35.45 on Monday. Grocery Outlet has a 1-year low of $27.75 and a 1-year high of $36.60.

In other Grocery Outlet news, CFO Charles Bracher purchased 2,610 shares of the stock in a transaction on Monday, June 24th. The stock was bought at an average cost of $22.00 per share, for a total transaction of $57,420.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey York purchased 25,000 shares of the stock in a transaction on Monday, June 24th. The stock was acquired at an average price of $22.00 per share, with a total value of $550,000.00. The disclosure for this purchase can be found here. Insiders acquired 58,530 shares of company stock valued at $1,287,660 over the last 90 days.

About Grocery Outlet

Grocery Outlet Holding Corp. owns and operates a chain of grocery stores in the United States. The company offers products in various categories, such as grocery, dairy and deli, produce, refrigerated and frozen, floral, beer and wine, general merchandise, and health and beauty care, as well as fresh meat and seafood; and natural, organic, specialty, and healthy products.

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Analyst Recommendations for Grocery Outlet (NYSE:GO)

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