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Why Grocery Outlet's Stock Is Trading Higher Today

Tanzeel Akhtar

Grocery Outlet (NASDAQ: GO) shares are trading higher on Tuesday after reporting first-quarter earnings.

Grocery Outlet reported quarterly earnings of 36c cents per share, which beat the analyst consensus estimate of 25 cents. The company reported quarterly sales of $760.3 million, which beat the analyst consensus estimate of $755.59 million.

Deutsche Bank maintained a Buy rating and raised its price target from $42 to $43. Morgan Stanley maintained an Equal-Weight rating, but raised its price target from $38 to $41.

Grocery Outlet is a grocery store operator in the U.S. Its buying model allows the company to offer quality, name-brand opportunistic products at prices generally 40% to 70% below those of conventional retailers.

View more earnings on GO

Grocery Outlet shares were trading up 3.48% at $37.95 on Tuesday. The stock has a 52-week range between $47.57 and $27.75.

Related links:

Grocery Outlet Trades Lower On Mixed Q3 Preliminary Results

Grocery Outlet Holding Opens Well Above IPO Price

Latest Ratings for GO

Date Firm Action From To
May 2020 UBS Maintains Neutral
May 2020 Deutsche Bank Maintains Buy
May 2020 Morgan Stanley Maintains Equal-Weight

View More Analyst Ratings for GO
View the Latest Analyst Ratings

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