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SFM

Sprouts Farmers Market

$27.03

0.4 (1.50%)

06:49
11/30/18
11/30
06:49
11/30/18
06:49

Sprouts Farmers Market downgraded to Underperform from Buy at BofA/Merrill

BofA/Merrill analyst Robert Ohems downgraded Sprouts Farmers Market to Underperform from Buy and cut its price target to $21 from $35 following CEO Amin Maredla's plans to leave the company. Ohems believes Maredla is leaving to pursue other interests, but said the transition comes at a difficult time given expectations Q4 and 1H 2019 are already expected to be challenging. The analyst expects Q4 margin headwinds from increased investments in technology, training and wages, which should persist into 1H 2019. Further, Ohems sees risk to the company's same-store-sales outlook due to produce deflation and lower comp contribution from new stores.

  • 04

    Dec

SFM Sprouts Farmers Market
$27.03

0.4 (1.50%)

11/30/18
LOOP
11/30/18
NO CHANGE
Target $29
LOOP
Hold
CEO departure at Sprouts Farmers Market not a sign of problem, says Loop Capital
Loop Capital analyst Andrew Wolf kept his Hold rating and $29 price target on Sprouts Farmers Market after its announcement that CEO Amin Maredia is stepping down at the end of the year. While the news was "abrupt", the analyst notes that his conversations with the company's management indicates that its positive outlook "should remain intact". Wolf also contends that Sprouts' relative valuation is "reasonable" based on its fundamental growth outlook, even though the stock is the "highest valued member" of his Food Retail group.
11/16/18
11/16/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Adobe (ADBE) initiated with a Buy at Nomura Instinet. 2. Target (TGT) was initiated with a Buy at Buckingham and an Overweight at KeyBanc. 3. Viad (VVI) initiated with a Buy at Janney Montgomery Scott. 4. Selective Insurance (SIGI) initiated with a Market Perform at JMP Securities. 5. Sprouts Farmers Market (SFM) initiated with an Underperform at Bernstein. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/16/18
BERN
11/16/18
INITIATION
Target $23
BERN
Underperform
Sprouts Farmers Market initiated with an Underperform at Bernstein
Bernstein initiated Sprouts Farmers Market with an Underperform and $23 price target.
11/05/18
LOOP
11/05/18
NO CHANGE
Target $29
LOOP
Hold
Sprouts Farmers Market price target raised to $29 from $25 at Loop Capital
Loop Capital analyst Andrew Wolf raised his price target on Sprouts Farmers Market to $29, citing its "modest" Q3 earnings beat and a 1.5% increase in same store sales in spite of operating in a "deflationary environment". The analyst notes that taken with a 1.8% food price deflation, real same store sales improved to 3.3% from 3.0% in Q2, while the company's new-store productivity trend is also healthy. Wolf is positive on Sprouts as a "viable growth story in a highly competitive and evolving food retailing environment", but also keeps his Hold rating given the elevated current valuation on the stock.

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