Sprouts Farmers Market Rating Increased to Buy at UBS AG (SFM)
Sprouts Farmers Market (NYSE:SFM) was upgraded by equities research analysts at UBS AG from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $43.00 price objective on the stock, up from their previous price objective of $41.00. UBS AG’s target price points to a potential upside of 13.31% from the stock’s previous close.
The analysts wrote, “Sprouts has taken a conservative approach to its guidance, by assuming just 7-8% in 2014 comparable store sales growth after 10% growth in 2013. It also assumes ~75% new store productivity after generating ~90% productivity in 2013. On Mar-25 SFM disclosed Q1 comparable store sales growth of 12.5% and implied ~90% new store productivity, suggests the momentum can continue and guidance is too conservative.”
In other Sprouts Farmers Market news, major shareholder Apollo Management Holdings Gp, sold 9,408,458 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $32.65, for a total transaction of $307,186,153.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
SFM has been the subject of a number of other recent research reports. Analysts at Guggenheim raised their price target on shares of Sprouts Farmers Market from $38.00 to $40.00 in a research note on Monday. Separately, analysts at BMO Capital Markets raised their price target on shares of Sprouts Farmers Market from $37.00 to $40.00 in a research note on Monday, March 3rd. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Sprouts Farmers Market in a research note on Tuesday, February 25th. They now have a $45.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Sprouts Farmers Market currently has an average rating of “Hold” and a consensus target price of $39.13.
Sprouts Farmers Market (NYSE:SFM) opened at 35.42 on Monday. Sprouts Farmers Market has a 1-year low of $33.00 and a 1-year high of $49.45. The stock has a 50-day moving average of $37.09 and a 200-day moving average of $39.76. The company has a market cap of $5.233 billion and a P/E ratio of 99.14.
Sprouts Farmers Market (NYSE:SFM) last announced its earnings results on Thursday, February 27th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.06 by $0.01. The company had revenue of $608.20 million for the quarter, compared to the consensus estimate of $584.81 million. The company’s quarterly revenue was up 27.0% on a year-over-year basis. Analysts expect that Sprouts Farmers Market will post $0.61 EPS for the current fiscal year.
Sprouts Farmers Market, Inc (NYSE:SFM) is a specialty retailer of natural and organic food focusing on health and wellness.
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