Grocery Outlet Holding Corp. (NASDAQ:GO) Given Average Recommendation of “Hold” by Brokerages

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have earned an average rating of “Hold” from the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $15.58.

GO has been the topic of a number of recent analyst reports. Telsey Advisory Group lowered their price target on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a research report on Wednesday. Roth Mkm lowered their price target on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group lowered their price target on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research report on Friday, November 1st. Craig Hallum lowered their price target on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Finally, UBS Group decreased their target price on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th.

Grocery Outlet Stock Performance

Shares of GO stock opened at $10.99 on Thursday. The company has a market capitalization of $1.07 billion, a P/E ratio of 21.55, a P/E/G ratio of 9.08 and a beta of 0.32. The business’s 50 day moving average is $16.14 and its two-hundred day moving average is $17.14. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. Grocery Outlet has a 12-month low of $10.26 and a 12-month high of $29.19.

Institutional Investors Weigh In On Grocery Outlet

Several hedge funds and other institutional investors have recently made changes to their positions in GO. Creative Planning acquired a new stake in shares of Grocery Outlet in the third quarter valued at approximately $198,000. Blue Trust Inc. increased its holdings in shares of Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Grocery Outlet during the third quarter worth $801,000. Nisa Investment Advisors LLC acquired a new stake in Grocery Outlet during the third quarter worth $181,000. Finally, Pallas Capital Advisors LLC acquired a new stake in Grocery Outlet during the third quarter worth $474,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

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.