Grocery Outlet (NASDAQ:GO) Receives “Market Perform” Rating from Telsey Advisory Group

Grocery Outlet (NASDAQ:GO)‘s stock had its “market perform” rating reiterated by stock analysts at Telsey Advisory Group in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $16.00 target price on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 20.39% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. UBS Group upped their price objective on shares of Grocery Outlet from $14.50 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Wells Fargo & Company boosted their target price on shares of Grocery Outlet from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Finally, Jefferies Financial Group raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and boosted their target price for the stock from $13.00 to $18.00 in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.62.

Grocery Outlet Price Performance

GO stock opened at $13.29 on Tuesday. The company has a 50 day simple moving average of $13.40 and a 200 day simple moving average of $14.26. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 83.07, a P/E/G ratio of 4.32 and a beta of 0.29. Grocery Outlet has a 1 year low of $10.26 and a 1 year high of $21.67. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.25 and a quick ratio of 0.25.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Grocery Outlet had a net margin of 0.39% and a return on equity of 6.21%. The firm’s quarterly 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 EPS. Research analysts anticipate that Grocery Outlet will post 0.63 EPS for the current fiscal year.

Insider Activity at Grocery Outlet

In other news, Director Erik D. Ragatz acquired 19,000 shares of Grocery Outlet stock in a transaction dated Friday, May 9th. The shares were bought at an average cost of $14.46 per share, with a total value of $274,740.00. Following the purchase, the director owned 19,000 shares in the company, valued at $274,740. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

Institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC boosted its stake in shares of Grocery Outlet by 53.9% in the 4th quarter. Sterling Capital Management LLC now owns 5,808 shares of the company’s stock valued at $91,000 after purchasing an additional 2,034 shares during the last quarter. Raymond James Financial Inc. bought a new position in Grocery Outlet during the fourth quarter worth $1,079,000. Invesco Ltd. boosted its stake in Grocery Outlet by 11.1% during the fourth quarter. Invesco Ltd. now owns 834,373 shares of the company’s stock worth $13,025,000 after acquiring an additional 83,043 shares in the last quarter. 111 Capital bought a new position in Grocery Outlet during the fourth quarter worth $207,000. Finally, D.A. Davidson & CO. bought a new position in Grocery Outlet during the first quarter worth $165,000. 99.87% of the stock is owned by institutional investors.

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.