Grocery Outlet (NYSE:GO) Earns “Outperform” Rating from Cowen

Cowen reissued their outperform rating on shares of Grocery Outlet (NYSE:GO) in a research note issued to investors on Wednesday morning, The Fly reports. Cowen currently has a $48.00 target price on the stock, up from their prior target price of $42.00.

Several other brokerages also recently issued reports on GO. Telsey Advisory Group began coverage on shares of Grocery Outlet in a research report on Monday, July 15th. They set an outperform rating and a $40.00 price objective on the stock. Morgan Stanley began coverage on shares of Grocery Outlet in a research report on Monday, July 15th. They set an equal weight rating and a $30.00 price objective on the stock. Barclays began coverage on shares of Grocery Outlet in a research report on Monday, July 15th. They set an equal weight rating and a $32.00 price objective on the stock. Deutsche Bank began coverage on shares of Grocery Outlet in a research report on Tuesday, July 16th. They set a buy rating and a $40.00 price objective on the stock. Finally, Bank of America began coverage on shares of Grocery Outlet in a research report on Monday, July 15th. They set a neutral rating and a $37.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $40.00.

NYSE GO opened at $46.64 on Wednesday. The firm has a fifty day moving average of $36.39. Grocery Outlet has a 12 month low of $27.75 and a 12 month high of $47.30.

Grocery Outlet (NYSE:GO) last posted its earnings results on Tuesday, August 13th. The company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.07. The company 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% on a year-over-year basis.

In other news, CFO Charles Bracher bought 2,610 shares of Grocery Outlet stock in a transaction dated Monday, June 24th. The stock was bought at an average price of $22.00 per share, for a total transaction of $57,420.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Robert Joseph Jr. Sheedy bought 10,000 shares of Grocery Outlet stock in a transaction dated Monday, June 24th. The stock was purchased at an average price of $22.00 per share, with a total value of $220,000.00. The disclosure for this purchase can be found here. Insiders bought a total of 58,530 shares of company stock valued at $1,287,660 in the last 90 days.

Hedge funds have recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. acquired a new stake in shares of Grocery Outlet in the 2nd quarter worth $2,150,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Grocery Outlet in the 2nd quarter worth $730,000. Emerald Advisers LLC acquired a new stake in shares of Grocery Outlet in the 2nd quarter worth $256,000. Janus Henderson Group PLC acquired a new stake in shares of Grocery Outlet in the second quarter valued at about $486,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Grocery Outlet in the second quarter valued at about $1,046,000.

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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The Fly

Analyst Recommendations for Grocery Outlet (NYSE:GO)

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