The Goldman Sachs Group Issues Pessimistic Forecast for Grocery Outlet (NASDAQ:GO) Stock Price

Grocery Outlet (NASDAQ:GO) had its target price dropped by investment analysts at The Goldman Sachs Group from $14.00 to $11.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price target suggests a potential downside of 4.53% from the company’s current price.

GO has been the topic of a number of other research reports. TD Cowen lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and decreased their target price for the stock from $25.00 to $16.00 in a research report on Wednesday, November 6th. Wells Fargo & Company dropped their price target on shares of Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price objective on the stock. in a report on Wednesday. Telsey Advisory Group lowered their target price on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a research note on Wednesday. Finally, Bank of America cut their price target on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.25.

Grocery Outlet Price Performance

Shares of GO traded up $0.53 during mid-day trading on Thursday, hitting $11.52. The company’s stock had a trading volume of 2,160,073 shares, compared to its average volume of 2,316,988. The firm has a 50-day simple moving average of $16.14 and a 200 day simple moving average of $17.14. 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 firm has a market capitalization of $1.12 billion, a P/E ratio of 22.67, a P/E/G ratio of 9.08 and a beta of 0.32. Grocery Outlet has a 1-year low of $10.26 and a 1-year high of $29.19.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Simcoe Capital Management LLC acquired a new stake in shares of Grocery Outlet during the 4th quarter worth approximately $53,185,000. Junto Capital Management LP bought a new stake in shares of Grocery Outlet during the fourth quarter valued at approximately $39,128,000. Freestone Grove Partners LP bought a new position in Grocery Outlet in the 4th quarter worth approximately $13,602,000. FPR Partners LLC increased its position in Grocery Outlet by 15.2% in the 4th quarter. FPR Partners LLC now owns 5,991,474 shares of the company’s stock valued at $93,527,000 after acquiring an additional 791,474 shares during the period. Finally, Point72 Asset Management L.P. raised its stake in Grocery Outlet by 159.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,235,078 shares of the company’s stock valued at $21,676,000 after acquiring an additional 759,697 shares in the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.

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.