Grocery Outlet’s (GO) “Neutral” Rating Reiterated at DA Davidson

Grocery Outlet (NASDAQ:GO)‘s stock had its “neutral” rating reissued by stock analysts at DA Davidson in a research note issued on Thursday,Benzinga reports. They currently have a $15.00 price target on the stock. DA Davidson’s target price would suggest a potential upside of 33.87% from the stock’s previous close.

Several other analysts also recently commented on GO. Morgan Stanley dropped their target price on shares of Grocery Outlet from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Grocery Outlet in a research report on Wednesday. Zacks Research cut Grocery Outlet from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. TD Cowen cut their price target on Grocery Outlet from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grocery Outlet in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $15.55.

Grocery Outlet Trading Down 0.9%

Shares of NASDAQ GO traded down $0.11 during midday trading on Thursday, reaching $11.21. 1,968,427 shares of the stock were exchanged, compared to its average volume of 3,101,552. Grocery Outlet has a 12 month low of $10.21 and a 12 month high of $19.97. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -223.10, a P/E/G ratio of 1.78 and a beta of 0.47. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.30 and a quick ratio of 0.25. The business has a 50-day simple moving average of $13.59 and a two-hundred day simple moving average of $14.58.

Grocery Outlet (NASDAQ:GO) last posted its 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. Grocery Outlet had a positive return on equity of 5.86% and a negative net margin of 0.10%.The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Grocery Outlet has set its FY 2025 guidance at 0.780-0.80 EPS. As a group, equities research analysts expect that Grocery Outlet will post 0.63 EPS for the current year.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, EVP Steven K. Wilson sold 25,000 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $12.53, for a total transaction of $313,250.00. Following the transaction, the executive vice president directly owned 116,923 shares in the company, valued at approximately $1,465,045.19. This trade represents a 17.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

A number of hedge funds have recently made changes to their positions in the business. Rip Road Capital Partners LP raised its stake in shares of Grocery Outlet by 33.9% during the 1st quarter. Rip Road Capital Partners LP now owns 707,900 shares of the company’s stock valued at $9,896,000 after purchasing an additional 179,300 shares during the period. Intech Investment Management LLC purchased a new position in Grocery Outlet during the 2nd quarter valued at about $3,835,000. Inspire Investing LLC bought a new stake in shares of Grocery Outlet during the first quarter valued at about $345,000. Eisler Capital Management Ltd. lifted its holdings in shares of Grocery Outlet by 178.5% in the second quarter. Eisler Capital Management Ltd. now owns 227,101 shares of the company’s stock worth $2,821,000 after buying an additional 145,554 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in shares of Grocery Outlet by 113.3% in the second quarter. TD Asset Management Inc now owns 168,452 shares of the company’s stock valued at $2,092,000 after acquiring an additional 89,478 shares during the period. 99.87% of the stock is currently owned by institutional investors.

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.