Telsey Advisory Group Has Lowered Expectations for Grocery Outlet (NASDAQ:GO) Stock Price

Grocery Outlet (NASDAQ:GO) had its price target decreased by research analysts at Telsey Advisory Group from $17.00 to $15.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Telsey Advisory Group’s target price points to a potential upside of 45.91% from the company’s current price.

A number of other brokerages have also recently issued reports on GO. Deutsche Bank Aktiengesellschaft set a $11.00 price target on shares of Grocery Outlet in a research report on Thursday, January 8th. TD Cowen dropped their price target on Grocery Outlet from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday, November 5th. Wells Fargo & Company reduced their price objective on Grocery Outlet from $19.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, December 19th. DA Davidson reissued a “neutral” rating and issued a $15.00 target price on shares of Grocery Outlet in a report on Thursday, December 4th. Finally, UBS Group restated a “neutral” rating and set a $11.50 price target on shares of Grocery Outlet in a report on Thursday, December 18th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $14.32.

Grocery Outlet Price Performance

Shares of GO stock opened at $10.28 on Tuesday. The business’s fifty day moving average is $9.96 and its 200 day moving average is $13.32. The company has a quick ratio of 0.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.40. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -205.60, a PEG ratio of 2.05 and a beta of 0.49. Grocery Outlet has a twelve month low of $8.96 and a twelve month high of $19.41.

Institutional Investors Weigh In On Grocery Outlet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd grew its position in Grocery Outlet by 1,030.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,532 shares of the company’s stock worth $26,000 after purchasing an additional 2,308 shares during the period. Bayforest Capital Ltd purchased a new position in shares of Grocery Outlet in the 3rd quarter worth $29,000. Hantz Financial Services Inc. grew its holdings in shares of Grocery Outlet by 591.5% in the third quarter. Hantz Financial Services Inc. now owns 2,033 shares of the company’s stock worth $33,000 after acquiring an additional 1,739 shares during the period. Kestra Advisory Services LLC purchased a new stake in Grocery Outlet during the fourth quarter valued at $35,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Grocery Outlet by 32.3% in the second quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company’s stock valued at $37,000 after acquiring an additional 719 shares during the period. Hedge funds and other institutional investors own 99.87% of the company’s stock.

About Grocery Outlet

Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.

The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.