Whole Foods Market Rating Reiterated by JPMorgan Chase & Co. (WFM)
Whole Foods Market (NYSE:WFM)‘s stock had its “overweight” rating reiterated by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Wednesday, American Banking and Market News reports. They currently have a $48.00 target price on the stock, down from their previous target price of $57.00. JPMorgan Chase & Co.’s target price would suggest a potential upside of 23.30% from the stock’s previous close.
Shares of Whole Foods Market (NYSE:WFM) traded down 18.81% during mid-day trading on Wednesday, hitting $38.93. The stock had a trading volume of 49,099,960 shares. Whole Foods Market has a one year low of $47.70 and a one year high of $65.59. The stock’s 50-day moving average is $50.7 and its 200-day moving average is $54.75. The company has a market cap of $14.481 billion and a price-to-earnings ratio of 31.97. Whole Foods Market also was the target of some unusual options trading activity on Monday. Stock investors acquired 10,457 call options on the stock. This is an increase of approximately 183% compared to the average volume of 3,693 call options.
Whole Foods Market (NYSE:WFM) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.38 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.41 by $0.03. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter last year, the company posted $0.76 earnings per share. Whole Foods Market’s revenue was up 9.7% compared to the same quarter last year. Analysts expect that Whole Foods Market will post $1.61 EPS for the current fiscal year.
WFM has been the subject of a number of other recent research reports. Analysts at Prime Executions downgraded shares of Whole Foods Market from a “buy” rating to a “neutral” rating in a research note on Wednesday. They now have a $40.00 price target on the stock, down previously from $62.00. Separately, analysts at Canaccord Genuity cut their price target on shares of Whole Foods Market from $63.00 to $49.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Argus upgraded shares of Whole Foods Market from a “hold” rating to a “buy” rating in a research note on Wednesday. They now have a $48.00 price target on the stock. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. Whole Foods Market presently has an average rating of “Hold” and a consensus price target of $51.76.
Whole Foods Market, Inc (NYSE:WFM), is a retailer of natural and organic foods.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.