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

Grocery Outlet (NASDAQ:GO) had its price target increased by UBS Group from $14.50 to $17.00 in a research report released on Wednesday, Marketbeat.com reports. They currently have a neutral rating on the stock.

A number of other research analysts have also issued reports on GO. Jefferies Financial Group raised Grocery Outlet from a “hold” rating to a “buy” rating and boosted their target price for the company from $13.00 to $18.00 in a report on Wednesday, April 16th. The Goldman Sachs Group reduced their target price 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. Deutsche Bank Aktiengesellschaft lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research note on Wednesday, February 26th. Wells Fargo & Company raised their price objective on shares of Grocery Outlet from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $16.00 target price on shares of Grocery Outlet in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Grocery Outlet has a consensus rating of “Hold” and an average target price of $15.62.

Grocery Outlet Stock Performance

Shares of Grocery Outlet stock opened at $14.40 on Wednesday. The stock has a market capitalization 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 200-day simple moving average is $15.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. Grocery Outlet has a 12 month low of $10.26 and a 12 month high of $23.25.

Grocery Outlet (NASDAQ:GO) last announced its earnings results on Tuesday, May 6th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 earnings per share. As a group, equities analysts forecast that Grocery Outlet will post 0.63 earnings per share for the current year.

Insider Buying and Selling at Grocery Outlet

In other news, CFO Christopher M. Miller purchased 10,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $11.68 per share, with a total value of $116,800.00. Following the purchase, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $116,800. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steven K. Wilson sold 6,682 shares of the business’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 transaction of $87,935.12. Following the completion of the transaction, the executive vice president now directly owns 166,923 shares of the company’s stock, valued at approximately $2,196,706.68. This represents a 3.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 200,000 shares of company stock worth $2,435,050 and sold 17,756 shares worth $216,892. 4.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Simcoe Capital Management LLC purchased a new stake in shares of Grocery Outlet in the fourth quarter valued at $53,185,000. Junto Capital Management LP acquired a new stake in Grocery Outlet in the 4th quarter worth about $39,128,000. Freestone Grove Partners LP purchased a new stake in Grocery Outlet in the 4th quarter valued at about $13,602,000. FPR Partners LLC increased its stake in shares of Grocery Outlet by 15.2% during the 4th quarter. FPR Partners LLC now owns 5,991,474 shares of the company’s stock valued at $93,527,000 after acquiring an additional 791,474 shares during the last quarter. Finally, Senvest Management LLC lifted its holdings in shares of Grocery Outlet by 88.3% during the 4th quarter. Senvest Management LLC now owns 1,569,656 shares of the company’s stock worth $24,502,000 after acquiring an additional 735,931 shares during the period. 99.87% of the stock is currently owned by institutional investors and hedge funds.

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.