Evercore ISI Upgrades Sprouts Farmers Market (NASDAQ:SFM) to “Outperform”

Sprouts Farmers Market (NASDAQ:SFM) was upgraded by investment analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research note issued on Monday, MarketBeat reports. The firm presently has a $120.00 price target on the stock, up from their previous price target of $96.00. Evercore ISI’s price target suggests a potential upside of 12.33% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Bank of America boosted their target price on Sprouts Farmers Market from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. BMO Capital Markets upgraded Sprouts Farmers Market from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $40.00 to $102.00 in a research report on Tuesday, July 30th. UBS Group boosted their target price on Sprouts Farmers Market from $68.00 to $94.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Deutsche Bank Aktiengesellschaft boosted their target price on Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group boosted their target price on Sprouts Farmers Market from $89.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $99.22.

Sprouts Farmers Market Price Performance

Shares of SFM stock opened at $106.83 on Monday. The stock has a 50-day moving average price of $94.33 and a 200 day moving average price of $79.53. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 0.01. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 2.89 and a beta of 0.56. Sprouts Farmers Market has a 12 month low of $39.50 and a 12 month high of $107.90.

Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.16. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.84 billion. Sprouts Farmers Market had a return on equity of 27.53% and a net margin of 4.52%. The company’s revenue was up 12.3% on a year-over-year basis. During the same period last year, the company earned $0.71 earnings per share. Research analysts expect that Sprouts Farmers Market will post 3.37 EPS for the current year.

Insider Buying and Selling at Sprouts Farmers Market

In other Sprouts Farmers Market news, insider Dustin Hamilton sold 1,997 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $99.20, for a total value of $198,102.40. Following the sale, the insider now owns 26,172 shares in the company, valued at approximately $2,596,262.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Sprouts Farmers Market news, CEO Jack Sinclair sold 5,718 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $77.07, for a total value of $440,686.26. Following the sale, the chief executive officer now owns 256,716 shares in the company, valued at approximately $19,785,102.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dustin Hamilton sold 1,997 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $99.20, for a total value of $198,102.40. Following the sale, the insider now owns 26,172 shares in the company, valued at approximately $2,596,262.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 128,939 shares of company stock worth $12,571,295. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Sprouts Farmers Market

Institutional investors and hedge funds have recently made changes to their positions in the stock. Crewe Advisors LLC raised its stake in shares of Sprouts Farmers Market by 223.5% during the 2nd quarter. Crewe Advisors LLC now owns 317 shares of the company’s stock worth $27,000 after purchasing an additional 219 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Sprouts Farmers Market during the 2nd quarter worth approximately $29,000. Rise Advisors LLC acquired a new position in shares of Sprouts Farmers Market during the 1st quarter worth approximately $26,000. Quarry LP increased its holdings in shares of Sprouts Farmers Market by 1,425.8% during the 2nd quarter. Quarry LP now owns 473 shares of the company’s stock worth $40,000 after acquiring an additional 442 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC acquired a new position in shares of Sprouts Farmers Market during the 1st quarter worth approximately $36,000.

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.