Sprouts Farmers Markets LLC Coverage Initiated at Credit Suisse (SFM)
Research analysts at Credit Suisse assumed coverage on shares of Sprouts Farmers Markets LLC (NYSE:SFM) in a report released on Tuesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $37.00 price target on the stock. Credit Suisse’s target price would suggest a potential downside of 5.20% from the stock’s previous close.
The analysts wrote, “We are initiating coverage on SFM with a Neutral rating and a $37 target price. We view SFM as one of the most compelling growth stories in consumer given its differentiated high-return model, strong leverage to the healthy living trend, large new store opportunity, and robust earnings momentum. That said, the market clearly appreciates the company’s outlook, as the stock is up sharply after its IPO and trades at a large premium to its peers.”
Shares of Sprouts Farmers Markets LLC (NYSE:SFM) traded down 3.02% during mid-day trading on Tuesday, hitting $37.85. 183,343 shares of the company’s stock traded hands. Sprouts Farmers Markets LLC has a 52-week low of $33.00 and a 52-week high of $41.85. The stock has a 50-day moving average of $38.50 and a 200-day moving average of $38.50. The company has a market cap of $5.542 billion and a P/E ratio of 159.31.
Sprouts Farmers Markets LLC (NYSE:SFM) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.10 EPS for the quarter. The company had revenue of $622.40 million for the quarter, compared to the consensus estimate of $430.00 million.
SFM has been the subject of a number of other recent research reports. Analysts at Goldman Sachs Group Inc. initiated coverage on shares of Sprouts Farmers Markets LLC (NYSE:SFM) in a research note to investors on Tuesday. They set a “neutral” rating and a $33.00 price target on the stock. Analysts at Bank of America Corp. initiated coverage on shares of Sprouts Farmers Markets LLC (NYSE:SFM) in a research note to investors on Tuesday. They set an “underperform” rating and a $37.00 price target on the stock.
Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Sprouts Farmers Markets LLC presently has a consensus rating of “Hold” and a consensus target price of $36.50.
Sprouts Farmers Market, LLC is a United States-based company that owns and operates a network of food retail stores.
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