Streetbeat News

Grocery Outlet Holding Corp.

https://www.groceryoutlet.com

Industry

Grocery Stores

Grocery Outlet Holding Corp. owns and operates a network of independently operated stores in the United States. The company's stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine. As of August 09, 2022, it had 425 stores in eight states. The company was founded in 1946 and is headquartered in Emeryville, California.

Open

18.65

Mkt cap

1.7B

Volume

458K

High

18.79

P/E Ratio

35.31

52-wk high

29.80

Low

17.73

Div yield

N/A

52-wk low

13.60

Grocery Outlet Holding is facing persistent challenges with poor same-store sales and gross margin outlook. The 3Q24 earnings report indicates further deceleration in same-store sales and worsening unit economics, with declining margins. Despite a sharp valuation derating, significant uncertainties and competitive pressures suggest the stock will, at best, trade sideways.

Portfolio Pulse from

November 07, 2024 | 11:00 am

Grocery Outlet reported strong Q3 2024 results with a 10.4% increase in net sales, driven by a 1.2% rise in comparable store sales and new store openings.

Portfolio Pulse from

November 06, 2024 | 1:45 pm

Grocery Outlet Holding Corp. held its Q3 2024 earnings conference call, with key company figures including Eric Lindberg and Lindsay Gray participating. The call was conducted in a listen-only mode for participants.

Portfolio Pulse from

November 06, 2024 | 5:00 am

Grocery Outlet Holding Corp. (GO) reported Q3 earnings of $0.28 per share, surpassing the Zacks Consensus Estimate of $0.27. However, this is a decrease from last year's $0.31 per share.

Portfolio Pulse from

November 05, 2024 | 11:45 pm

Grocery Outlet Holding Corp. reported a 10.4% increase in net sales and a 1.2% growth in comparable store sales for Q3 fiscal 2024, driven by a 2.0% increase in transactions. The company also updated its key guidance for fiscal 2024.

Portfolio Pulse from

November 05, 2024 | 9:15 pm

Goldman Sachs analyst Kate McShane maintains a Sell rating on Grocery Outlet Holding (NASDAQ:GO) and lowers the price target from $17 to $15.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 5:10 pm

The article highlights three oversold stocks in the consumer staples sector: Grocery Outlet Holding Corp, Reynolds Consumer Products Inc, and Dollar Tree Inc. These stocks have experienced significant price declines and have RSI values indicating they are oversold, presenting potential buying opportunities.

Portfolio Pulse from Avi Kapoor

October 31, 2024 | 12:12 pm

B of A Securities has downgraded Grocery Outlet Holding from Buy to Neutral and reduced its price target from $29 to $17.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 6:00 pm

Telsey Advisory Group has downgraded Grocery Outlet Holding from Outperform to Market Perform and reduced its price target from $27 to $19.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 5:16 pm

Grocery Outlet's shares are declining following a reduction in its FY24 adjusted EBITDA guidance. Additionally, Wells Fargo has lowered its price target for the stock from $28 to $26.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 3:29 pm

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