Grocery Outlet (NASDAQ:GO) Price Target Lowered to $16.00 at Telsey Advisory Group

Grocery Outlet (NASDAQ:GO) had its price target cut by equities researchers at Telsey Advisory Group from $18.00 to $16.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Telsey Advisory Group’s price target suggests a potential upside of 1.65% from the company’s current price.

GO has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a research report on Wednesday. Wells Fargo & Company dropped their price objective on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. TD Cowen downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and cut their price target for the company from $25.00 to $16.00 in a research report on Wednesday, November 6th. Roth Mkm decreased their price objective on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group lowered their target price on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $16.55.

Grocery Outlet Stock Performance

Grocery Outlet stock opened at $15.74 on Wednesday. Grocery Outlet has a 1 year low of $13.60 and a 1 year high of $29.19. The company’s 50-day moving average is $16.26 and its two-hundred day moving average is $17.18. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The company has a market cap of $1.53 billion, a PE ratio of 30.86, a PEG ratio of 9.08 and a beta of 0.32.

Hedge Funds Weigh In On Grocery Outlet

A number of large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its stake in shares of Grocery Outlet by 1.8% during the 3rd quarter. Franklin Resources Inc. now owns 29,987 shares of the company’s stock worth $526,000 after acquiring an additional 529 shares in the last quarter. Amundi boosted its holdings in Grocery Outlet by 0.6% during the fourth quarter. Amundi now owns 116,139 shares of the company’s stock worth $1,895,000 after purchasing an additional 719 shares during the last quarter. Blue Trust Inc. grew its position in Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares in the last quarter. Cedar Wealth Management LLC increased its stake in Grocery Outlet by 3.9% in the 4th quarter. Cedar Wealth Management LLC now owns 20,370 shares of the company’s stock valued at $318,000 after buying an additional 765 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Grocery Outlet by 2.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 46,875 shares of the company’s stock worth $732,000 after buying an additional 1,240 shares in the last quarter. Institutional investors own 99.87% of the company’s stock.

About Grocery Outlet

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.