Grocery Outlet’s (GO) “Hold” Rating Reiterated at Barclays

Barclays restated their hold rating on shares of Grocery Outlet (NYSE:GO) in a report issued on Thursday, AnalystRatings.com reports. The brokerage currently has a $37.00 price target on the stock.

Several other equities research analysts have also recently weighed in on the company. Telsey Advisory Group assumed coverage on Grocery Outlet in a research note on Monday, July 15th. They issued an outperform rating and a $40.00 price target on the stock. Goldman Sachs Group assumed coverage on Grocery Outlet in a research note on Monday, July 15th. They issued a neutral rating and a $32.00 price target on the stock. Bank of America upped their price target on Grocery Outlet from $37.00 to $40.00 and gave the stock a neutral rating in a research note on Wednesday, August 14th. Morgan Stanley assumed coverage on Grocery Outlet in a research note on Monday, July 15th. They issued an equal weight rating and a $30.00 price target on the stock. Finally, Jefferies Financial Group upped their price target on Grocery Outlet from $41.00 to $50.00 and gave the stock a buy rating in a research note on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Grocery Outlet presently has a consensus rating of Hold and a consensus target price of $40.00.

Shares of GO stock opened at $46.64 on Thursday. The business has a fifty day moving average price of $36.39. Grocery Outlet has a twelve month low of $27.75 and a twelve month high of $47.30.

Grocery Outlet (NYSE:GO) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.07. The firm had revenue of $645.30 million during the quarter, compared to analysts’ expectations of $626.60 million. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year.

In related news, Director Jeffrey York bought 25,000 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were purchased at an average cost of $22.00 per share, with a total value of $550,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Robert Joseph Jr. Sheedy bought 10,000 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was bought at an average cost of $22.00 per share, for a total transaction of $220,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 58,530 shares of company stock worth $1,287,660.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD bought a new position in shares of Grocery Outlet during the second quarter valued at $52,501,000. Vanguard Group Inc. bought a new position in shares of Grocery Outlet during the second quarter valued at $33,674,000. JPMorgan Chase & Co. bought a new position in shares of Grocery Outlet during the second quarter valued at $25,921,000. Citadel Advisors LLC bought a new position in shares of Grocery Outlet during the second quarter valued at $26,055,000. Finally, Wasatch Advisors Inc. bought a new position in shares of Grocery Outlet during the second quarter valued at $21,111,000.

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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