Sprouts Farmers Market (SFM) Lowered to Underperform at Bank of America

Bank of America downgraded shares of Sprouts Farmers Market (NASDAQ:SFM) from a buy rating to an underperform rating in a research report sent to investors on Friday, MarketBeat reports. The firm currently has $21.00 price objective on the stock, down from their previous price objective of $35.00.

Other analysts have also issued research reports about the company. BMO Capital Markets reiterated a hold rating and set a $25.00 target price (up previously from $23.00) on shares of Sprouts Farmers Market in a report on Friday, August 3rd. William Blair reiterated an outperform rating on shares of Sprouts Farmers Market in a report on Tuesday, August 14th. Citigroup upped their target price on Sprouts Farmers Market from $27.00 to $29.00 and gave the stock a buy rating in a report on Wednesday, August 8th. UBS Group upped their target price on Sprouts Farmers Market from $28.00 to $33.00 and gave the stock a buy rating in a report on Monday, September 10th. Finally, TheStreet upgraded Sprouts Farmers Market from a c+ rating to a b rating in a report on Monday, August 6th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. Sprouts Farmers Market presently has an average rating of Hold and an average target price of $27.42.

SFM opened at $25.12 on Friday. Sprouts Farmers Market has a 52-week low of $20.63 and a 52-week high of $29.67. The stock has a market cap of $2.94 billion, a P/E ratio of 24.87, a P/E/G ratio of 1.49 and a beta of 0.79. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 1.15.

Sprouts Farmers Market (NASDAQ:SFM) last released its earnings results on Thursday, November 1st. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.01. Sprouts Farmers Market had a return on equity of 25.85% and a net margin of 3.65%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the company posted $0.23 earnings per share. Sprouts Farmers Market’s revenue was up 10.2% on a year-over-year basis. Equities research analysts predict that Sprouts Farmers Market will post 1.28 EPS for the current year.

In other Sprouts Farmers Market news, insider Theodore Edward Frumkin II sold 53,333 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $27.52, for a total transaction of $1,467,724.16. Following the transaction, the insider now owns 58,265 shares of the company’s stock, valued at $1,603,452.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Brandon F. Lombardi sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $28.28, for a total value of $1,414,000.00. Following the completion of the transaction, the insider now directly owns 93,581 shares in the company, valued at approximately $2,646,470.68. The disclosure for this sale can be found here. In the last three months, insiders have acquired 103,500 shares of company stock worth $2,366,855 and have sold 289,475 shares worth $8,032,053. 1.80% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Sprouts Farmers Market in the second quarter valued at approximately $102,000. Csenge Advisory Group acquired a new position in shares of Sprouts Farmers Market in the third quarter valued at approximately $195,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Sprouts Farmers Market in the third quarter valued at approximately $194,000. NumerixS Investment Technologies Inc grew its position in shares of Sprouts Farmers Market by 407.1% in the second quarter. NumerixS Investment Technologies Inc now owns 7,100 shares of the company’s stock valued at $159,000 after purchasing an additional 5,700 shares during the last quarter. Finally, Keybank National Association OH acquired a new position in shares of Sprouts Farmers Market in the third quarter valued at approximately $201,000. 91.52% of the stock is currently owned by institutional investors.

Sprouts Farmers Market Company Profile

Sprouts Farmers Market, Inc, a healthy grocery store, provides fresh, natural, and organic food products in the United States. Its stores offer fresh produce, meat and seafood, deli and baked goods, packaged groceries, vitamins and supplements, bulk foods, dairy and dairy alternatives, frozen foods, beer and wine, and natural body care and household items.

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Analyst Recommendations for Sprouts Farmers Market (NASDAQ:SFM)

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