Evercore ISI Raises Sprouts Farmers Market (NASDAQ:SFM) Price Target to $77.00

Sprouts Farmers Market (NASDAQ:SFM) had its price objective increased by equities research analysts at Evercore ISI from $75.00 to $77.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s target price would indicate a potential downside of 8.27% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Sprouts Farmers Market from $60.00 to $63.00 and gave the company a “hold” rating in a research report on Thursday, May 9th. BMO Capital Markets boosted their target price on shares of Sprouts Farmers Market from $31.00 to $40.00 and gave the stock an “underperform” rating in a research report on Thursday, May 2nd. UBS Group boosted their target price on shares of Sprouts Farmers Market from $68.00 to $94.00 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Company boosted their target price on shares of Sprouts Farmers Market from $48.00 to $62.00 and gave the stock an “underweight” rating in a research report on Thursday, May 2nd. Finally, Oppenheimer reissued a “market perform” rating on shares of Sprouts Farmers Market in a research report on Monday, April 29th. 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 MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $64.25.

Sprouts Farmers Market Price Performance

Shares of NASDAQ SFM traded up $0.37 during midday trading on Tuesday, reaching $83.94. The company’s stock had a trading volume of 207,933 shares, compared to its average volume of 1,332,036. The company has a current ratio of 1.19, a quick ratio of 0.65 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average price of $76.39 and a 200 day moving average price of $63.24. Sprouts Farmers Market has a one year low of $36.16 and a one year high of $84.46. The company has a market cap of $8.43 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 3.19 and a beta of 0.55.

Sprouts Farmers Market (NASDAQ:SFM) last released its quarterly earnings results on Wednesday, May 1st. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.12. Sprouts Farmers Market had a net margin of 4.25% and a return on equity of 26.77%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts expect that Sprouts Farmers Market will post 3.12 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Kim Coffin sold 1,322 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $75.05, for a total value of $99,216.10. Following the transaction, the senior vice president now owns 5,500 shares of the company’s stock, valued at approximately $412,775. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Kim Coffin sold 1,322 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $75.05, for a total value of $99,216.10. Following the sale, the senior vice president now directly owns 5,500 shares in the company, valued at approximately $412,775. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joe Fortunato sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $78.48, for a total transaction of $392,400.00. Following the completion of the sale, the director now owns 52,966 shares in the company, valued at $4,156,771.68. The disclosure for this sale can be found here. Insiders have sold a total of 60,433 shares of company stock valued at $4,522,865 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sprouts Farmers Market

Several hedge funds and other institutional investors have recently made changes to their positions in SFM. VisionPoint Advisory Group LLC bought a new position in Sprouts Farmers Market during the third quarter worth $25,000. Rise Advisors LLC bought a new position in Sprouts Farmers Market during the first quarter worth $26,000. Blue Bell Private Wealth Management LLC bought a new position in Sprouts Farmers Market during the first quarter worth $36,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Sprouts Farmers Market during the fourth quarter worth $38,000. Finally, GAMMA Investing LLC bought a new position in Sprouts Farmers Market during the fourth quarter worth $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.