Grocery Outlet Holding Corp (GO) Receives a Hold from Barclays
Barclays analyst Karen Short maintained a Hold rating on Grocery Outlet Holding Corp (GO) yesterday and set a price target of $37. The company’s shares closed last Monday at $39.50, close to its 52-week high of $42.31.
According to TipRanks.com, Short is a 4-star analyst with an average return of 8.0% and a 63.6% success rate. Short covers the Services sector, focusing on stocks such as United Natural Foods, Sprouts Farmers, and Dollar General.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Grocery Outlet Holding Corp with a $38.86 average price target, which is a -5.5% downside from current levels. In a report released yesterday, Merrill Lynch also maintained a Hold rating on the stock with a $40 price target.
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Based on Grocery Outlet Holding Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $10.63 million. In comparison, last year the company had a net profit of $7.29 million.
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Grocery Outlet Holding Corp. engages in the operation of retail stores. It offers name-brand consumables and fresh products through a network of independently operated stores. The company was founded by Jim Read in 1946 and is headquartered in Emeryville, CA.