Sprouts Farmers Market Trading 4.9% Higher on Earnings Beat (SFM)
Sprouts Farmers Market (NYSE:SFM) traded up 4.9% during trading on Thursday following a better than expected earnings announcement, Stock Ratings Network.com reports. The company traded as high as $29.53 and last traded at $28.73, with a volume of 2,183,100 shares traded. The stock had previously closed at $27.40.
The company reported $0.22 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.19 by $0.03. The company had revenue of $722.60 million for the quarter, compared to the consensus estimate of $706.73 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 26.0% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Oppenheimer cut their price target on shares of Sprouts Farmers Market from $35.00 to $32.00 in a research note on Thursday. They now have a “market perform” rating on the stock. Separately, analysts at Deutsche Bank downgraded shares of Sprouts Farmers Market from a “buy” rating to a “hold” rating in a research note on Wednesday. They now have a $30.00 price target on the stock, down previously from $45.00. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Sprouts Farmers Market in a research note on Friday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $36.88.
The stock’s 50-day moving average is $34.51 and its 200-day moving average is $37.86. The company has a market cap of $3.912 billion and a price-to-earnings ratio of 74.05.
Sprouts Farmers Market, Inc (NYSE:SFM) is a specialty retailer of natural and organic food focusing on health and wellness.
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