Sprouts Farmers Market (NASDAQ:SFM) Upgraded to Outperform by Evercore ISI

Sprouts Farmers Market (NASDAQ:SFM) was upgraded by analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a report issued on Monday, MarketBeat Ratings reports. The brokerage currently 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 17.53% from the stock’s current price.

Several other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Sprouts Farmers Market from $89.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets upgraded shares of Sprouts Farmers Market from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $40.00 to $102.00 in a research report on Tuesday, July 30th. UBS Group lifted 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, June 28th. Wells Fargo & Company raised Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $62.00 to $90.00 in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $99.22.

Sprouts Farmers Market Stock Up 0.4 %

NASDAQ:SFM opened at $102.10 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.44 and a current ratio of 1.03. The firm has a market cap of $10.22 billion, a P/E ratio of 35.21, a P/E/G ratio of 2.89 and a beta of 0.56. Sprouts Farmers Market has a fifty-two week low of $39.50 and a fifty-two week high of $104.41. The firm has a 50-day simple moving average of $93.85 and a two-hundred day simple moving average of $79.22.

Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.16. Sprouts Farmers Market had a net margin of 4.52% and a return on equity of 27.53%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. Analysts predict that Sprouts Farmers Market will post 3.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Sprouts Farmers Market

In other news, insider Timmi Zalatoris sold 56,800 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $100.00, for a total value of $5,680,000.00. Following the transaction, the insider now owns 10,895 shares of the company’s stock, valued at $1,089,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Timmi Zalatoris sold 56,800 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $100.00, for a total value of $5,680,000.00. Following the completion of the sale, the insider now directly owns 10,895 shares of the company’s stock, valued at $1,089,500. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jack Sinclair sold 5,718 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $77.07, for a total transaction of $440,686.26. Following the sale, the chief executive officer now owns 256,716 shares in the company, valued at $19,785,102.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 128,939 shares of company stock valued at $12,571,295. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Sprouts Farmers Market

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

About Sprouts Farmers Market

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.