StockNews.com Upgrades Sprouts Farmers Market (NASDAQ:SFM) to "Buy"

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Wednesday.

Several other brokerages have also recently issued reports on SFM. Wells Fargo & Company raised their target price on shares of Sprouts Farmers Market from $90.00 to $130.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. Melius Research began coverage on shares of Sprouts Farmers Market in a report on Monday, September 23rd. They issued a "hold" rating and a $105.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of Sprouts Farmers Market from $127.00 to $159.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Evercore ISI raised their target price on Sprouts Farmers Market from $155.00 to $160.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. Finally, Bank of America upped their price target on Sprouts Farmers Market from $115.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $118.40.

Sprouts Farmers Market Price Performance

SFM traded up $1.93 during midday trading on Wednesday, hitting $140.00. The stock had a trading volume of 1,071,660 shares, compared to its average volume of 1,341,351. The company has a market cap of $14.00 billion, a P/E ratio of 40.46, a price-to-earnings-growth ratio of 2.23 and a beta of 0.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.59 and a current ratio of 1.13. Sprouts Farmers Market has a 1 year low of $48.98 and a 1 year high of $155.64. The business has a fifty day moving average of $141.66 and a 200 day moving average of $115.85.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.14. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.88 billion. Sprouts Farmers Market had a net margin of 4.73% and a return on equity of 28.24%. The firm's revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. As a group, equities analysts forecast that Sprouts Farmers Market will post 3.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Joseph L. Hurley sold 4,956 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $132.66, for a total transaction of $657,462.96. Following the sale, the insider now directly owns 11,184 shares of the company's stock, valued at approximately $1,483,669.44. This represents a 30.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph D. O'leary sold 350 shares of Sprouts Farmers Market stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $150.11, for a total transaction of $52,538.50. Following the completion of the transaction, the director now directly owns 17,991 shares of the company's stock, valued at $2,700,629.01. This trade represents a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,934 shares of company stock worth $8,370,950 in the last 90 days. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Accent Capital Management LLC purchased a new position in Sprouts Farmers Market in the 3rd quarter worth about $25,000. V Square Quantitative Management LLC bought a new stake in shares of Sprouts Farmers Market in the third quarter worth approximately $38,000. Quarry LP lifted its position in Sprouts Farmers Market by 1,425.8% during the second quarter. Quarry LP now owns 473 shares of the company's stock valued at $40,000 after purchasing an additional 442 shares during the period. First Horizon Advisors Inc. boosted its holdings in Sprouts Farmers Market by 80.6% in the third quarter. First Horizon Advisors Inc. now owns 363 shares of the company's stock worth $40,000 after purchasing an additional 162 shares during the last quarter. Finally, Waldron Private Wealth LLC bought a new stake in Sprouts Farmers Market in the 3rd quarter worth approximately $60,000.

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.