Grocery Outlet Holding Corp. (NASDAQ:GO) Given Consensus Rating of “Hold” by Analysts

Grocery Outlet Holding Corp. (NASDAQ:GO) has been given an average rating of “Hold” by the thirteen research firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $14.50.

GO has been the subject of several recent analyst reports. Wells Fargo & Company dropped their target price on Grocery Outlet from $19.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, December 19th. Morgan Stanley dropped their price objective on Grocery Outlet from $14.00 to $11.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. Bank of America reduced their target price on Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Zacks Research cut shares of Grocery Outlet from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Finally, TD Cowen decreased their price objective on shares of Grocery Outlet from $18.00 to $16.00 and set a “hold” rating for the company in a report on Wednesday, November 5th.

Grocery Outlet Trading Down 1.5%

Shares of GO stock opened at $9.79 on Thursday. The company has a market cap of $960.76 million, a PE ratio of -195.80, a price-to-earnings-growth ratio of 1.98 and a beta of 0.49. Grocery Outlet has a 1 year low of $8.96 and a 1 year high of $19.41. The stock’s 50 day simple moving average is $10.02 and its two-hundred day simple moving average is $13.39. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.30 and a quick ratio of 0.25.

Institutional Investors Weigh In On Grocery Outlet

Several hedge funds have recently modified their holdings of the business. Bayforest Capital Ltd purchased a new position in Grocery Outlet during the third quarter valued at approximately $29,000. Hantz Financial Services Inc. lifted its holdings in Grocery Outlet by 591.5% during the third quarter. Hantz Financial Services Inc. now owns 2,033 shares of the company’s stock worth $33,000 after buying an additional 1,739 shares during the period. PNC Financial Services Group Inc. boosted its position in Grocery Outlet by 32.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company’s stock valued at $37,000 after acquiring an additional 719 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of Grocery Outlet by 327.7% in the 2nd quarter. AlphaQuest LLC now owns 5,761 shares of the company’s stock valued at $72,000 after acquiring an additional 4,414 shares during the period. Finally, State of Wyoming increased its holdings in shares of Grocery Outlet by 96.9% in the 4th quarter. State of Wyoming now owns 7,886 shares of the company’s stock valued at $80,000 after acquiring an additional 3,880 shares during the period. Hedge funds and other institutional investors own 99.87% of the company’s stock.

About Grocery Outlet

Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.

The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.