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

Grocery Outlet Holding Corp. (NYSE:GO) has been given an average recommendation of “Hold” by the ten brokerages that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $40.13.

A number of equities analysts have recently commented on GO shares. Deutsche Bank lifted their target price on Grocery Outlet from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Zacks Investment Research cut Grocery Outlet from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Bank of America lifted their target price on Grocery Outlet from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Cowen reiterated an “outperform” rating and issued a $48.00 target price (up previously from $42.00) on shares of Grocery Outlet in a report on Wednesday, August 14th. Finally, Jefferies Financial Group set a $51.00 target price on Grocery Outlet and gave the stock a “buy” rating in a report on Tuesday, October 8th.

In related news, Vice Chairman S. Macgregor Jr. Read sold 350,000 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $32.72, for a total transaction of $11,452,000.00. Also, CAO Pamela B. Burke sold 26,470 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $32.72, for a total value of $866,098.40. In the last quarter, insiders sold 12,119,742 shares of company stock valued at $396,557,958.

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new position in Grocery Outlet during the 2nd quarter valued at $25,921,000. Janus Henderson Group PLC purchased a new stake in shares of Grocery Outlet in the 2nd quarter worth $486,000. Morgan Stanley purchased a new stake in shares of Grocery Outlet in the 2nd quarter worth $1,795,000. BlueMountain Capital Management LLC purchased a new stake in shares of Grocery Outlet in the 2nd quarter worth $2,302,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Grocery Outlet in the 2nd quarter worth $390,000.

NYSE:GO opened at $31.94 on Thursday. Grocery Outlet has a 1 year low of $27.75 and a 1 year high of $47.57. The business has a 50 day moving average price of $31.80.

Grocery Outlet (NYSE:GO) last released its quarterly earnings data on Monday, November 11th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. The firm had revenue of $652.50 million during the quarter, compared to the consensus estimate of $652.60 million. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis.

About Grocery Outlet

Grocery Outlet Holding Corp. owns and operates a chain of grocery stores in the United States. The company offers products in various categories, such as grocery, dairy and deli, produce, refrigerated and frozen, floral, beer and wine, general merchandise, and health and beauty care, as well as fresh meat and seafood; and natural, organic, specialty, and healthy products.

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Analyst Recommendations for Grocery Outlet (NYSE:GO)

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