The stock of Grocery Outlet Holding Corp. (NASDAQ:GO) decreased by -$0.03 on Tuesday to $33.85, down -0.09 percent. The last five days have seen an average of 1,639,232 shares of common stock traded. 17 times new highs were reached in the current year, with a gain of $4.63. The average number of shares traded over the last 20 days was 1,211,508, while the average volume over the last 50 days totaled 984,509.
GO stock appreciated 1.62% since last month. On 07/17/23, the company’s shares reached a one-month low of $32.60. The stock touched a high of $42.90 on 08/09/23, after rallying from a low of $25.71 in 52 weeks. The price of GO stock has risen by 15.96% or $4.63 this year, reaching a new high 17 times. Still, the stock price is down -21.09% from the 52-week high.
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Insider Transactions
GO stock investors should be aware that Grocery Outlet Holding Corp. (GO) stock had its last reported insider trading activity 4 days ago on Aug 11. On Aug 11, Director Lindberg Eric J. Jr. sold 255,951 shares at $34.35 each. This transaction resulted in the insider making $8,793,094. On Aug 10, Lindberg Eric J. Jr. sold 246,449 shares at a price of US$34.70. After the transaction, the insider now owns 37,616 shares. Chief Stores Officer Burke Pamela B. had earlier sold 5,797 shares on Aug 10 for $35.00 a share. The transaction was completed for $202,895.
Valuation Metrics
Grocery Outlet Holding Corp. (GO) has a trailing price-to-earnings (P/E) ratio of 47.54. Beta for the stock is 0.03. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.88, the price-to-book (PB) ratio of 2.86, and the price-to-cash flow ratio of 28.07.
Financial Health
For the three months ended June 29, Grocery Outlet Holding Corp.’s quick ratio was 0.40, while its current ratio was 1.40, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.25, and the total debt to equity ratio is 0.25. As far as profitability goes, gross margin for the trailing twelve months is 31.10% percent. Grocery Outlet Holding Corp.’s EBITDA margin for the year ended June 29 was 4.84%, whereas its operating margin stood at 2.90% for the same period. Based on annual data, it had gross profit of $1.09 billion and revenue of $3.58 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. GO’s return on assets (ROA) during the last 12 months has been 2.60%. There was a 5.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 6.40%.
Earnings Surprise
According to Grocery Outlet Holding Corp.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.01 billion, while revenues rose by 11.08% to $965.47 million. It was predicted that Grocery Outlet Holding Corp.’s quarterly earnings would be $0.32, but it ended up being $0.26, beating the consensus by 23.10%. EBITDA was $57.83 million for the quarter. At the end of Grocery Outlet Holding Corp.’s most recent quarter ended June 29, its liabilities totaled 1.66 billion, while its total debt was $1.37 billion. Equity owned by shareholders amounts to $98.78 million.
Technical Picture
Here’s a quick look at Grocery Outlet Holding Corp.’s (GO) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 56.22%, suggesting the stock is Neutral, with a 24.62% historical volatility rate.
The stochastic %K and %D were 29.62% and 37.14% respectively, while the average true range (ATR) was 0.77. Based on the 14-day stochastic reading of 24.23%, the RSI (14) reading is 60.61%. On the 9-day MACD Oscillator, the stock is at 0.19, and the 14-day reading is at 0.34.
Analyst Ratings
In a note to investors, Telsey Advisory Group maintained its an Outperform rating on Grocery Outlet Holding Corp. (NASDAQ: GO). However, the firm raised their price target to $40, indicating a possible increase of 0.44% in the stock price. Analysts have assigned Grocery Outlet Holding Corp. (GO) an Overweight rating. GO is a stock that is recommended for selling by 1 brokerage firm, while 7 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 5 others recommend it as a buy.
What is GO’s price target for the next 12 months?
The current consensus forecast for the stock is between $25.00 and $41.00, with a median target price of $37.00. In analyzing these forecasts, the average price target given by analysts for Grocery Outlet Holding Corp. (GO) is $35.92.
