Sprouts Farmers Market (NASDAQ:SFM) PT Raised to $62.00

Sprouts Farmers Market (NASDAQ:SFM) had its target price increased by equities researchers at Wells Fargo & Company from $48.00 to $62.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential downside of 13.82% from the company’s current price.

A number of other brokerages also recently issued reports on SFM. The Goldman Sachs Group lifted their price target on Sprouts Farmers Market from $56.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Bank of America upgraded shares of Sprouts Farmers Market from an “underperform” rating to a “buy” rating and lifted their target price for the company from $30.00 to $70.00 in a research report on Tuesday, February 27th. Evercore ISI decreased their price target on shares of Sprouts Farmers Market from $62.00 to $61.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Oppenheimer reaffirmed a “market perform” rating on shares of Sprouts Farmers Market in a research note on Monday. Finally, BMO Capital Markets lifted their price objective on Sprouts Farmers Market from $31.00 to $40.00 and gave the stock an “underperform” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $53.50.

Sprouts Farmers Market Price Performance

NASDAQ SFM traded up $7.65 on Thursday, hitting $71.94. The stock had a trading volume of 820,028 shares, compared to its average volume of 1,316,210. The firm has a 50-day moving average of $63.29 and a 200-day moving average of $52.52. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 1.10. Sprouts Farmers Market has a 52-week low of $32.12 and a 52-week high of $73.78. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 2.40 and a beta of 0.50.

Sprouts Farmers Market (NASDAQ:SFM) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.04. The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Sprouts Farmers Market had a net margin of 3.79% and a return on equity of 26.71%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Equities analysts expect that Sprouts Farmers Market will post 2.95 EPS for the current year.

Insider Activity

In other Sprouts Farmers Market news, insider Timmi Zalatoris sold 5,353 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $61.62, for a total value of $329,851.86. Following the completion of the transaction, the insider now directly owns 10,895 shares in the company, valued at $671,349.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Timmi Zalatoris sold 5,353 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $61.62, for a total value of $329,851.86. Following the sale, the insider now directly owns 10,895 shares in the company, valued at $671,349.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brandon F. Lombardi sold 3,865 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $62.21, for a total value of $240,441.65. Following the sale, the insider now directly owns 8,328 shares in the company, valued at $518,084.88. The disclosure for this sale can be found here. Insiders sold 160,852 shares of company stock valued at $10,032,745 in the last quarter. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sprouts Farmers Market

Several institutional investors have recently modified their holdings of the stock. VisionPoint Advisory Group LLC bought a new stake in Sprouts Farmers Market in the third quarter worth $25,000. Rise Advisors LLC bought a new stake in shares of Sprouts Farmers Market during the 1st quarter worth approximately $26,000. Blue Bell Private Wealth Management LLC bought a new position in Sprouts Farmers Market in the 1st quarter valued at $36,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Sprouts Farmers Market during the fourth quarter worth $38,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Sprouts Farmers Market during the fourth quarter valued at $43,000.

Sprouts Farmers Market Company Profile

Sprouts Farmers Market, Inc, together with its subsidiaries, engages in the retailing of fresh, natural, and organic food products under the Sprouts brand in the United States. It offers perishable product categories, including fresh produce, meat and meat alternatives, seafood, deli, bakery, floral, and dairy and dairy alternatives; and non-perishable product categories, such as grocery, vitamins and supplements, bulk items, frozen foods, beer and wine, and natural health and body care.