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

Grocery Outlet (NASDAQ:GO) had its price target cut by analysts at Bank of America from $19.00 to $16.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s target price would indicate a potential upside of 31.69% from the company’s previous close.

GO has been the subject of several other reports. Zacks Research raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Telsey Advisory Group downgraded Grocery Outlet from an “outperform” rating to a “market perform” rating in a report on Wednesday. Morgan Stanley upgraded Grocery Outlet from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $13.00 to $16.00 in a research report on Wednesday, August 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Grocery Outlet in a research note on Wednesday, October 8th. Finally, Craig Hallum raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Grocery Outlet currently has an average rating of “Hold” and a consensus target price of $15.73.

Grocery Outlet Stock Performance

Shares of GO opened at $12.15 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.30 and a quick ratio of 0.25. The firm’s 50 day moving average is $15.94 and its 200-day moving average is $15.16. Grocery Outlet has a 12-month low of $10.26 and a 12-month high of $21.67. The stock has a market capitalization of $1.19 billion, a P/E ratio of -243.00, a P/E/G ratio of 2.74 and a beta of 0.33.

Grocery Outlet (NASDAQ:GO) last released its earnings results on Tuesday, November 4th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. Grocery Outlet had a negative net margin of 0.10% and a positive return on equity of 5.86%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.28 earnings per share. Grocery Outlet has set its FY 2025 guidance at 0.780-0.80 EPS. Equities research analysts anticipate that Grocery Outlet will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling

In other Grocery Outlet news, EVP Steven K. Wilson sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $18.24, for a total value of $91,200.00. Following the transaction, the executive vice president owned 141,923 shares in the company, valued at approximately $2,588,675.52. This represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

A number of large investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in Grocery Outlet by 236.0% during the first quarter. GAMMA Investing LLC now owns 5,188 shares of the company’s stock valued at $73,000 after buying an additional 3,644 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Grocery Outlet during the 1st quarter valued at about $199,000. Principal Financial Group Inc. raised its stake in shares of Grocery Outlet by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 482,178 shares of the company’s stock valued at $6,741,000 after acquiring an additional 11,080 shares in the last quarter. D.A. Davidson & CO. bought a new position in shares of Grocery Outlet in the 1st quarter valued at approximately $165,000. Finally, New York State Common Retirement Fund lifted its holdings in Grocery Outlet by 49.4% in the 1st quarter. New York State Common Retirement Fund now owns 131,983 shares of the company’s stock worth $1,845,000 after purchasing an additional 43,633 shares during the last quarter. 99.87% of the stock is currently owned by 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.