Grocery Outlet’s (GO) Outperform Rating Reiterated at Telsey Advisory Group

Grocery Outlet (NASDAQ:GO)‘s stock had its “outperform” rating restated by analysts at Telsey Advisory Group in a report issued on Wednesday,Benzinga reports. They currently have a $17.00 price objective on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 50.31% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Bank of America decreased their price objective on Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. UBS Group decreased their price target on Grocery Outlet from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. DA Davidson dropped their target price on Grocery Outlet from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Morgan Stanley upgraded Grocery Outlet from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $13.00 to $16.00 in a research note on Wednesday, August 6th. Finally, Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.73.

Grocery Outlet Stock Performance

Shares of GO stock traded up $0.06 during trading hours on Wednesday, reaching $11.31. The company had a trading volume of 2,819,281 shares, compared to its average volume of 3,100,927. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.25 and a current ratio of 1.30. The firm has a market cap of $1.11 billion, a PE ratio of -226.20, a price-to-earnings-growth ratio of 1.78 and a beta of 0.47. The business has a fifty day moving average price of $13.67 and a 200-day moving average price of $14.60. Grocery Outlet has a one year low of $10.21 and a one year high of $20.08.

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

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, EVP Steven K. Wilson sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $12.53, for a total value of $313,250.00. Following the completion of the sale, the executive vice president directly owned 116,923 shares in the company, valued at $1,465,045.19. This represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.50% of the stock is owned by company insiders.

Institutional Trading of Grocery Outlet

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Grocery Outlet by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 10,717,454 shares of the company’s stock valued at $149,830,000 after acquiring an additional 582,822 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Grocery Outlet by 5.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,619,851 shares of the company’s stock worth $74,149,000 after purchasing an additional 221,693 shares in the last quarter. Marshall Wace LLP boosted its holdings in Grocery Outlet by 0.5% during the third quarter. Marshall Wace LLP now owns 4,577,371 shares of the company’s stock valued at $73,467,000 after purchasing an additional 20,819 shares in the last quarter. Van Berkom & Associates Inc. raised its stake in Grocery Outlet by 16.9% during the third quarter. Van Berkom & Associates Inc. now owns 3,757,022 shares of the company’s stock worth $60,300,000 after acquiring an additional 543,535 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Grocery Outlet by 3.8% in the third quarter. Wellington Management Group LLP now owns 3,548,106 shares of the company’s stock valued at $56,947,000 after buying an additional 129,090 shares in the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.

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.