Wedbush Initiates Coverage on Sprouts Farmers Market (SFM)
Research analysts at Wedbush initiated coverage on shares of Sprouts Farmers Market (NYSE:SFM) in a report released on Wednesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $37.00 price target on the stock. Wedbush’s target price would indicate a potential upside of 19.74% from the company’s current price.
Shares of Sprouts Farmers Market (NYSE:SFM) opened at 30.90 on Wednesday. Sprouts Farmers Market has a 52-week low of $25.73 and a 52-week high of $49.45. The stock has a 50-day moving average of $30.93 and a 200-day moving average of $32.54. The company has a market cap of $4.631 billion and a P/E ratio of 54.69.
Sprouts Farmers Market (NYSE:SFM) last released its earnings data on Thursday, August 7th. The company reported $0.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.18 by $0.02. The company had revenue of $743.80 million for the quarter, compared to the consensus estimate of $741.05 million. During the same quarter last year, the company posted $0.14 earnings per share. Sprouts Farmers Market’s revenue was up 19.5% compared to the same quarter last year. Analysts expect that Sprouts Farmers Market will post $0.68 EPS for the current fiscal year.
In other Sprouts Farmers Market news, CFO Amin N. Maredia sold 45,000 shares of Sprouts Farmers Market stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $30.44, for a total value of $1,369,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of other analysts have also recently weighed in on SFM. Analysts at Imperial Capital reiterated an “in-line” rating on shares of Sprouts Farmers Market in a research note on Monday, August 11th. They now have a $35.00 price target on the stock, down previously from $36.00. Separately, analysts at Zacks downgraded shares of Sprouts Farmers Market from an “outperform” rating to a “neutral” rating in a research note on Friday, July 25th. They now have a $35.90 price target on the stock. Finally, analysts at Longbow Research initiated coverage on shares of Sprouts Farmers Market in a research note on Friday, July 11th. They set a “neutral” rating on the stock. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Sprouts Farmers Market has a consensus rating of “Hold” and an average price target of $35.08.
Sprouts Farmers Market, Inc (NYSE:SFM) is a specialty retailer of natural and organic food focusing on health and wellness.
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