Fairway Group Holdings Corp Downgraded to “Underperform” at Credit Suisse (FWM)
Fairway Group Holdings Corp (NYSE:FWM) was downgraded by investment analysts at Credit Suisse from a “neutral” rating to an “underperform” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports. They currently have a $18.00 target price on the stock, up from their previous target price of $8.00. Credit Suisse’s price target indicates a potential upside of 121.67% from the company’s current price.
The analysts wrote, “Although some of the issues look to be temporary (weather, calendar), we have become particularly concerned about the consistency of the earnings shortfalls, the disappointing store opening in Chelsea, reduced visibility on the real estate pipeline, increased competitive pressure, and the management changes. While the model appears to still have solid long-term potential with better execution, the recent issues have caused us to dramatically cut our 12-month valuation below FWM’s peers, our target price to $8, and ultimately our rating to Underperform as the stock seems likely to trail our coverage universe this year.”
FWM has been the subject of a number of other recent research reports. Analysts at Oppenheimer downgraded shares of Fairway Group Holdings Corp from an “outperform” rating to a “market perform” rating in a research note to investors on Friday. They now have a $10.00 price target on the stock, down previously from $20.00. Analysts at Jefferies Group cut their price target on shares of Fairway Group Holdings Corp from $30.00 to $23.00 in a research note to investors on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Fairway Group Holdings Corp presently has a consensus rating of “Hold” and a consensus target price of $15.80.
Shares of Fairway Group Holdings Corp (NYSE:FWM) opened at 8.12 on Friday. Fairway Group Holdings Corp has a 52 week low of $8.02 and a 52 week high of $28.87. The stock has a 50-day moving average of $14.15 and a 200-day moving average of $20.68. The company’s market cap is $336.1 million.
Fairway Group Holdings Corp (NYSE:FWM) last announced its earnings results on Thursday, February 6th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.70. The company had revenue of $205.70 million for the quarter, compared to the consensus estimate of $207.80 million. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. Analysts expect that Fairway Group Holdings Corp will post $-2.33 EPS for the current fiscal year.
Fairway Group Holdings Corp. operates in the retail food industry, selling fresh, natural and organic products, prepared foods, and specialty and gourmet offerings along with a assortment of conventional groceries.
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