Sprouts Farmers Market (NASDAQ:SFM) Stock Rating Cut to Neutral at Northcoast Research

Key Points

• Northcoast Research downgraded Sprouts Farmers Market from Buy to Neutral. Analysts overall have a Hold consensus and an average price target of $64.77.
• Sprouts reported quarterly EPS of $1.21, just below the $1.22 consensus, and revenue of $2.30 billion versus estimates of $2.33 billion. Revenue nevertheless increased 4.7% year over year.
• Shares opened at $54.40, up 3.6% that day, after falling within a 12-month range of $47.35 to $94.89.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) was downgraded by analysts at Northcoast Research from a "buy" rating to a "neutral" rating in a report released on Thursday, MarketBeat.com reports.

Several other research analysts also recently issued reports on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Sprouts Farmers Market in a research note on Monday, September 21st. Bank of America cut shares of Sprouts Farmers Market from a "buy" rating to an "underperform" rating and set a $47.00 price objective on the stock. in a research note on Thursday, October 29th. UBS Group reissued a "neutral" rating and issued a $74.00 price objective on shares of Sprouts Farmers Market in a research note on Monday, October 26th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Sprouts Farmers Market from $84.00 to $77.00 and set a "hold" rating for the company in a report on Friday, September 25th. Finally, The Goldman Sachs Group cut their price objective on Sprouts Farmers Market from $94.00 to $58.00 and set a "buy" rating for the company in a research report on Friday, October 30th. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Sprouts Farmers Market has an average rating of "Hold" and an average price target of $64.77.

Sprouts Farmers Market Trading Up 3.6%

Shares of SFM opened at $54.40 on Thursday. Sprouts Farmers Market has a twelve month low of $47.35 and a twelve month high of $94.89. The company has a current ratio of 0.97, a quick ratio of 0.39 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $5.02 billion, a P/E ratio of 10.44, a PEG ratio of 1.37 and a beta of 0.76. The firm's 50-day moving average is $67.86 and its two-hundred day moving average is $75.88.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.01). The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.33 billion. Sprouts Farmers Market had a net margin of 5.45% and a return on equity of 33.83%. Sprouts Farmers Market's revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.22 earnings per share. On average, research analysts predict that Sprouts Farmers Market will post 4.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jack Sinclair sold 10,788 shares of the firm's stock in a transaction on Monday, October 5th. The shares were sold at an average price of $64.48, for a total value of $695,610.24. Following the transaction, the chief executive officer owned 269,980 shares of the company's stock, valued at approximately $17,408,310.40. This trade represents a 3.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joseph O'Leary sold 2,597 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $82.57, for a total value of $214,434.29. Following the transaction, the director owned 14,710 shares in the company, valued at approximately $1,214,604.70. This represents a 15.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 35,253 shares of company stock valued at $2,523,984. Corporate insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On Sprouts Farmers Market

Large investors have recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Sprouts Farmers Market during the first quarter worth $25,000. Bell Investment Advisors Inc bought a new position in shares of Sprouts Farmers Market in the 2nd quarter worth about $29,000. Ameritas Advisory Services LLC bought a new position in shares of Sprouts Farmers Market in the 2nd quarter worth about $29,000. Trust Co. of Vermont acquired a new position in shares of Sprouts Farmers Market in the 2nd quarter valued at about $32,000. Finally, Geneos Wealth Management Inc. acquired a new position in shares of Sprouts Farmers Market in the 1st quarter valued at about $31,000.

Sprouts Farmers Market Company Profile

Sprouts Farmers Market, Inc NASDAQ: SFM is a specialty grocery retailer focused on fresh, natural and organic foods. Its stores offer a broad selection of fresh produce, meat and seafood, dairy products, bulk foods, vitamins and supplements, pantry staples, bakery items, deli products and prepared foods. The company emphasizes products that support healthy eating, including organic, plant-based and specialty-diet options.

Founded in 2002, Sprouts Farmers Market grew from its first store in Chandler, Arizona, into a national grocery chain.

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