Grocery Outlet (NASDAQ:GO) Upgraded at Craig Hallum

Craig Hallum upgraded shares of Grocery Outlet (NASDAQ:GO) from a hold rating to a buy rating in a report issued on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has $17.00 price target on the stock.

GO has been the topic of several other research reports. Wells Fargo & Company upped their target price on Grocery Outlet from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. Jefferies Financial Group upgraded Grocery Outlet from a “hold” rating to a “buy” rating and upped their target price for the company from $13.00 to $18.00 in a research report on Wednesday, April 16th. Telsey Advisory Group restated a “market perform” rating and set a $16.00 target price on shares of Grocery Outlet in a research report on Tuesday, July 29th. Finally, UBS Group upped their target price on Grocery Outlet from $14.50 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Grocery Outlet has a consensus rating of “Hold” and an average target price of $16.08.

Grocery Outlet Trading Up 0.6%

Shares of GO stock opened at $18.54 on Wednesday. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 264.89, a PEG ratio of 4.23 and a beta of 0.27. The stock has a 50-day moving average of $13.67 and a 200-day moving average of $14.23. The company has a current ratio of 1.21, a quick ratio of 0.25 and a debt-to-equity ratio of 0.38. Grocery Outlet has a 1-year low of $10.26 and a 1-year high of $21.67.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Grocery Outlet had a return on equity of 6.34% and a net margin of 0.18%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. On average, equities research analysts forecast that Grocery Outlet will post 0.63 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GO. Pictet Asset Management Holding SA boosted its holdings in Grocery Outlet by 37.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 19,702 shares of the company’s stock worth $308,000 after acquiring an additional 5,411 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Grocery Outlet by 26.1% in the fourth quarter. Russell Investments Group Ltd. now owns 736,179 shares of the company’s stock worth $11,492,000 after acquiring an additional 152,572 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Grocery Outlet by 276.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock valued at $43,000 after purchasing an additional 2,036 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Grocery Outlet in the fourth quarter valued at approximately $41,000. Finally, Invesco Ltd. lifted its holdings in shares of Grocery Outlet by 11.1% in the fourth quarter. Invesco Ltd. now owns 834,373 shares of the company’s stock valued at $13,025,000 after purchasing an additional 83,043 shares in the last quarter. Institutional investors 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.