In a report released today, Rupesh Parikh from Oppenheimer maintained a Hold rating on Sprouts Farmers (SFM). The company’s shares closed last Wednesday at $27.15, close to its 52-week high of $28.00.
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 14.3% and a 62.5% success rate. Parikh covers the Consumer Goods sector, focusing on stocks such as Bj’s Wholesale Club Holdings, The Estée Lauder Companies, and Albertsons Companies.
The word on The Street in general, suggests a Hold analyst consensus rating for Sprouts Farmers with a $26.33 average price target, which is a -2.6% downside from current levels. In a report issued on July 21, Goldman Sachs also initiated coverage with a Hold rating on the stock with a $26.00 price target.
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Based on Sprouts Farmers’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.65 billion and net profit of $91.81 million. In comparison, last year the company earned revenue of $1.41 billion and had a net profit of $56.39 million.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SFM in relation to earlier this year.
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Sprouts Farmers Markets, Inc. engages in operating healthy grocery stores. It specializes in fresh, natural, and organic products. Its products include fresh produce, bulk foods, vitamins and supplements, grocery, meat and seafood, deli, bakery, dairy, frozen foods, body care, and natural household items. The company was founded by Stan Boney and Shon Alexander Boney on July 11, 2002 and is headquartered in Phoenix, AZ.
