Bank of America Has Lowered Expectations for Grocery Outlet (NASDAQ:GO) Stock Price

Grocery Outlet (NASDAQ:GO) had its price target reduced by Bank of America from $20.00 to $17.00 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also commented on GO. Telsey Advisory Group reiterated a “market perform” rating and set a $18.00 price objective on shares of Grocery Outlet in a research report on Wednesday, January 22nd. Craig Hallum decreased their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a report on Wednesday. UBS Group reduced their target price on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Finally, TD Cowen downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and lowered their price target for the stock from $25.00 to $16.00 in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.58.

Grocery Outlet Stock Down 30.2 %

GO opened at $10.99 on Wednesday. The business’s fifty day simple moving average is $16.14 and its 200 day simple moving average is $17.14. Grocery Outlet has a 52 week low of $10.26 and a 52 week high of $29.19. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The stock has a market cap of $1.07 billion, a PE ratio of 21.55, a P/E/G ratio of 9.08 and a beta of 0.32.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GO. Creative Planning bought a new stake in shares of Grocery Outlet in the 3rd quarter worth approximately $198,000. Blue Trust Inc. raised its holdings in shares of Grocery Outlet by 76.6% during the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Grocery Outlet in the third quarter valued at $801,000. Nisa Investment Advisors LLC bought a new stake in Grocery Outlet in the third quarter valued at $181,000. Finally, Pallas Capital Advisors LLC purchased a new position in Grocery Outlet during the 3rd quarter valued at $474,000. Hedge funds and other 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.