Sprouts Farmers Market (NASDAQ:SFM) Upgraded by Northcoast Research to “Buy”

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Northcoast Research upgraded shares of Sprouts Farmers Market (NASDAQ:SFM) from a neutral rating to a buy rating in a report released on Thursday morning, BenzingaRatingsTable reports. Northcoast Research currently has $22.00 price objective on the stock.

A number of other analysts have also issued reports on SFM. Zacks Investment Research lowered Sprouts Farmers Market from a hold rating to a sell rating and set a $19.00 price target on the stock. in a research note on Friday, August 2nd. CIBC reissued a market perform rating on shares of Sprouts Farmers Market in a research note on Tuesday, July 23rd. Wells Fargo & Co decreased their price target on Sprouts Farmers Market from $23.00 to $20.00 and set a positive rating on the stock in a research note on Friday, June 21st. Deutsche Bank raised Sprouts Farmers Market from a hold rating to a buy rating in a research note on Monday, April 29th. Finally, BidaskClub lowered Sprouts Farmers Market from a sell rating to a strong sell rating in a research note on Thursday, May 23rd. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $23.17.

SFM opened at $17.90 on Thursday. The company has a quick ratio of 0.25, a current ratio of 0.85 and a debt-to-equity ratio of 3.02. The firm has a market cap of $2.10 billion, a P/E ratio of 13.88, a PEG ratio of 2.01 and a beta of 0.40. Sprouts Farmers Market has a 52 week low of $16.46 and a 52 week high of $29.67. The business’s fifty day simple moving average is $18.07 and its 200 day simple moving average is $20.85.

Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). Sprouts Farmers Market had a net margin of 2.61% and a return on equity of 26.10%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the business earned $0.32 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. As a group, equities analysts expect that Sprouts Farmers Market will post 1.1 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake in shares of Sprouts Farmers Market by 24.7% in the 2nd quarter. Renaissance Technologies LLC now owns 5,964,500 shares of the company’s stock valued at $112,669,000 after purchasing an additional 1,183,000 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of Sprouts Farmers Market by 1.3% in the 1st quarter. Clearbridge Investments LLC now owns 3,674,551 shares of the company’s stock valued at $79,150,000 after purchasing an additional 47,837 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Sprouts Farmers Market by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,763,323 shares of the company’s stock valued at $64,965,000 after purchasing an additional 130,215 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Sprouts Farmers Market by 4.2% in the 1st quarter. Victory Capital Management Inc. now owns 2,364,741 shares of the company’s stock valued at $50,936,000 after purchasing an additional 96,291 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its stake in shares of Sprouts Farmers Market by 51.1% in the 2nd quarter. Impax Asset Management Group plc now owns 1,839,150 shares of the company’s stock valued at $34,742,000 after purchasing an additional 621,658 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

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, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, baked goods, dairy products, frozen foods, beer and wine, natural body care and household items.

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Analyst Recommendations for Sprouts Farmers Market (NASDAQ:SFM)

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