Zacks Investment Research Lowers Smart (NYSE:SFS) to Hold
Smart (NYSE:SFS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “Smart & Final Stores, Inc. is a value-oriented food and everyday staples retailer that serves household and business customers. It operates grocery and foodservice stores under the Smart & Final, Smart & Final Extra! and Cash & Carry Smart Foodservice banners in California, Oregon, Washington, Arizona, Nevada, Idaho. The Company’s stores offer various products, including basic grocery, produce, dairy, meat, beverage, foodservice, packaging, and janitorial items. Smart & Final Stores, Inc. is headquartered in Los Angeles. “
Other equities analysts have also recently issued research reports about the stock. BidaskClub cut shares of Smart from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 13th. Royal Bank Of Canada reissued an “outperform” rating and issued a $19.00 price target on shares of Smart in a research report on Friday, July 21st. Loop Capital began coverage on shares of Smart in a research report on Monday, May 15th. They issued a “buy” rating and a $17.00 price target for the company. TheStreet cut shares of Smart from a “c-” rating to a “d+” rating in a research report on Tuesday, July 18th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $12.00 price target (down previously from $14.00) on shares of Smart in a research report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Smart presently has an average rating of “Hold” and a consensus target price of $18.83.
Shares of Smart (NYSE:SFS) traded down 1.31% during mid-day trading on Friday, hitting $7.55. The company had a trading volume of 825,475 shares. The firm has a market capitalization of $558.85 million, a price-to-earnings ratio of 62.92 and a beta of 0.28. The firm has a 50-day moving average price of $8.30 and a 200 day moving average price of $11.66. Smart has a 52-week low of $7.30 and a 52-week high of $15.45.
Smart (NYSE:SFS) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.04. Smart had a net margin of 0.21% and a return on equity of 4.14%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the business earned $0.20 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts expect that Smart will post $0.49 earnings per share for the current year.
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In other news, EVP Scott R. Drew sold 21,000 shares of Smart stock in a transaction on Monday, June 12th. The shares were sold at an average price of $13.02, for a total transaction of $273,420.00. Following the completion of the sale, the executive vice president now directly owns 64,648 shares of the company’s stock, valued at approximately $841,716.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Michael A. Mortensen sold 26,980 shares of Smart stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $13.42, for a total transaction of $362,071.60. Following the sale, the senior vice president now directly owns 48,191 shares of the company’s stock, valued at $646,723.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,940 shares of company stock valued at $1,097,389. Corporate insiders own 8.47% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Atria Investments LLC boosted its stake in Smart by 4.0% in the first quarter. Atria Investments LLC now owns 12,424 shares of the company’s stock valued at $150,000 after buying an additional 477 shares during the period. Aperio Group LLC purchased a new stake in Smart during the second quarter valued at about $125,000. American International Group Inc. boosted its stake in Smart by 7.1% in the first quarter. American International Group Inc. now owns 14,236 shares of the company’s stock valued at $172,000 after buying an additional 940 shares during the period. Trexquant Investment LP purchased a new stake in Smart during the second quarter valued at about $157,000. Finally, California Public Employees Retirement System purchased a new stake in Smart during the second quarter valued at about $165,000.
Smart Company Profile
Smart & Final Stores, Inc is a food retailer. The Company is engaged in the business of selling fresh perishables and everyday grocery items, together with foodservice, packaging and janitorial products. The Company operates through two segments: Smart & Final, and Cash and Carry. The Smart & Final segment focuses on both household and business customers.
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