UBS Group Cuts Grocery Outlet (NASDAQ:GO) Price Target to $16.00

Grocery Outlet (NASDAQ:GO) had its target price lowered by UBS Group from $21.00 to $16.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price would indicate a potential downside of 1.54% from the company’s previous close.

A number of other analysts have also recently weighed in on the company. Wells Fargo & Company lowered their price objective on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday. Craig Hallum dropped their price target on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday. Roth Mkm dropped their price target on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday. Melius Research assumed coverage on Grocery Outlet in a research note on Monday, September 23rd. They set a “hold” rating and a $17.00 price target on the stock. Finally, Bank of America downgraded Grocery Outlet from a “buy” rating to a “neutral” rating and dropped their price target for the company from $29.00 to $17.00 in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $18.17.

Grocery Outlet Stock Up 11.6 %

NASDAQ GO traded up $1.69 during midday trading on Wednesday, hitting $16.25. 2,540,391 shares of the company traded hands, compared to its average volume of 1,806,745. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.29. The company has a market cap of $1.59 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 3.57 and a beta of 0.13. The company’s 50-day simple moving average is $16.74 and its 200-day simple moving average is $19.84. Grocery Outlet has a 52 week low of $13.60 and a 52 week high of $29.98.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 EPS. As a group, equities research analysts forecast that Grocery Outlet will post 0.66 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the transaction, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the completion of the transaction, the director now owns 70,938 shares of the company’s stock, valued at $1,340,728.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the sale, the director now owns 70,938 shares of the company’s stock, valued at $1,155,580.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 500,095 shares of company stock valued at $8,876,548. 4.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Grocery Outlet

Large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Grocery Outlet in the first quarter valued at approximately $25,000. Blue Trust Inc. grew its position 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 in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Grocery Outlet in the third quarter valued at approximately $32,000. Innealta Capital LLC purchased a new stake in shares of Grocery Outlet in the second quarter valued at approximately $38,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Grocery Outlet in the second quarter valued at approximately $82,000. 99.87% of the stock is currently owned by hedge funds and other 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.