Sprouts Farmers Market (NASDAQ:SFM) Price Target Cut to $61.00 by Analysts at Evercore ISI

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) had its target price lowered by equities researchers at Evercore ISI from $62.00 to $61.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an "in-line" rating on the stock. Evercore ISI's target price would suggest a potential downside of 2.07% from the stock's previous close.

Several other research firms have also weighed in on SFM. The Goldman Sachs Group boosted their price objective on shares of Sprouts Farmers Market from $56.00 to $71.00 and gave the stock a "buy" rating in a research note on Tuesday, March 5th. Bank of America upgraded shares of Sprouts Farmers Market from an "underperform" rating to a "buy" rating and upped their price target for the company from $30.00 to $70.00 in a research note on Tuesday, February 27th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Sprouts Farmers Market currently has a consensus rating of "Hold" and an average target price of $51.14.

Sprouts Farmers Market Stock Down 0.0 %

SFM traded down $0.03 during trading on Tuesday, hitting $62.29. The company had a trading volume of 894,991 shares, compared to its average volume of 1,281,707. The firm's 50-day moving average price is $60.36 and its 200 day moving average price is $50.84. The company has a quick ratio of 0.51, a current ratio of 1.10 and a debt-to-equity ratio of 0.12. Sprouts Farmers Market has a one year low of $32.12 and a one year high of $65.53. The company has a market capitalization of $6.30 billion, a PE ratio of 24.82, a PEG ratio of 2.28 and a beta of 0.50.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.45 by $0.04. Sprouts Farmers Market had a net margin of 3.79% and a return on equity of 26.71%. The firm had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.69 billion. During the same period in the previous year, the firm posted $0.42 EPS. The company's revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts expect that Sprouts Farmers Market will post 2.95 earnings per share for the current year.

Insiders Place Their Bets

In other Sprouts Farmers Market news, insider Brandon F. Lombardi sold 22,799 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $59.98, for a total transaction of $1,367,484.02. Following the transaction, the insider now owns 8,328 shares in the company, valued at approximately $499,513.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Timmi Zalatoris sold 5,353 shares of the company's stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $61.62, for a total transaction of $329,851.86. Following the completion of the sale, the insider now owns 10,895 shares of the company's stock, valued at approximately $671,349.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brandon F. Lombardi sold 22,799 shares of the company's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $59.98, for a total transaction of $1,367,484.02. Following the sale, the insider now directly owns 8,328 shares of the company's stock, valued at approximately $499,513.44. The disclosure for this sale can be found here. Insiders have sold a total of 160,852 shares of company stock worth $10,032,745 in the last quarter. Corporate insiders own 1.10% of the company's stock.

Institutional Trading of Sprouts Farmers Market

A number of institutional investors and hedge funds have recently made changes to their positions in the company. VisionPoint Advisory Group LLC bought a new position in Sprouts Farmers Market in the 3rd quarter valued at approximately $25,000. Rise Advisors LLC bought a new position in shares of Sprouts Farmers Market during the first quarter valued at $26,000. West Tower Group LLC raised its stake in shares of Sprouts Farmers Market by 314.5% during the fourth quarter. West Tower Group LLC now owns 630 shares of the company's stock valued at $30,000 after acquiring an additional 478 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Sprouts Farmers Market during the first quarter valued at $35,000. Finally, Ronald Blue Trust Inc. raised its stake in shares of Sprouts Farmers Market by 80.3% during the third quarter. Ronald Blue Trust Inc. now owns 831 shares of the company's stock valued at $36,000 after acquiring an additional 370 shares during the last quarter.

Sprouts Farmers Market Company Profile

Sprouts Farmers Market, Inc, together with its subsidiaries, engages in the retailing of fresh, natural, and organic food products under the Sprouts brand in the United States. It offers perishable product categories, including fresh produce, meat and meat alternatives, seafood, deli, bakery, floral, and dairy and dairy alternatives; and non-perishable product categories, such as grocery, vitamins and supplements, bulk items, frozen foods, beer and wine, and natural health and body care.