Sprouts Farmers Market (NASDAQ:SFM) Downgraded by BMO Capital Markets to “Underperform”

BMO Capital Markets lowered shares of Sprouts Farmers Market (NASDAQ:SFM) from a market perform rating to an underperform rating in a research report released on Friday morning, BenzingaRatingsTable reports. The firm currently has $15.00 target price on the stock.

Other equities research analysts also recently issued reports about the stock. Oppenheimer downgraded shares of Sprouts Farmers Market from an outperform rating to a market perform rating in a research report on Tuesday, July 23rd. Sanford C. Bernstein raised shares of Sprouts Farmers Market from an underperform rating to a market perform rating and set a $23.00 price objective on the stock in a research report on Monday, June 24th. Deutsche Bank raised shares of Sprouts Farmers Market from a hold rating to a buy rating in a research report on Monday, April 29th. Bank of America reissued an underperform rating and issued a $19.00 price objective (down from $21.00) on shares of Sprouts Farmers Market in a research report on Wednesday, May 29th. Finally, Wells Fargo & Co dropped their price objective on shares of Sprouts Farmers Market from $23.00 to $20.00 and set a positive rating on the stock in a research report on Friday, June 21st. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $23.79.

Sprouts Farmers Market stock traded down $0.43 during mid-day trading on Friday, reaching $17.74. 2,625,860 shares of the company’s stock were exchanged, compared to its average volume of 1,571,412. The firm has a market capitalization of $2.00 billion, a P/E ratio of 13.75, a P/E/G ratio of 1.75 and a beta of 0.41. Sprouts Farmers Market has a twelve month low of $16.46 and a twelve month high of $29.67. The company has a current ratio of 0.88, a quick ratio of 0.20 and a debt-to-equity ratio of 2.84. The stock’s fifty day simple moving average is $18.58.

Sprouts Farmers Market (NASDAQ:SFM) last released its earnings results on Thursday, August 1st. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.01). The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. Sprouts Farmers Market had a return on equity of 26.41% and a net margin of 2.78%. Sprouts Farmers Market’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 earnings per share. Equities research analysts forecast that Sprouts Farmers Market will post 1.24 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Clearbridge Investments LLC grew its position 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 buying an additional 47,837 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Sprouts Farmers Market in the 1st quarter valued at $304,000. Nordea Investment Management AB purchased a new position in shares of Sprouts Farmers Market in the 4th quarter valued at $3,926,000. Norges Bank acquired a new stake in Sprouts Farmers Market during the 4th quarter worth $41,565,000. Finally, Quadrant Capital Group LLC boosted its stake in Sprouts Farmers Market by 4,318.8% during the 1st quarter. Quadrant Capital Group LLC now owns 2,828 shares of the company’s stock worth $60,000 after purchasing an additional 2,764 shares during the period. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

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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