BMO Capital Reiterates a Buy Rating on Sprouts Farmers

By Austin Angelo

In a report issued on November 4, Kelly Bania from BMO Capital reiterated a Buy rating on Sprouts Farmers (NASDAQ: SFM), with a price target of $25. The company’s shares opened today at $20.61.

According to TipRanks.com, Bania is a 1-star analyst with an average return of -3.3% and a 34.9% success rate. Bania covers the Services sector, focusing on stocks such as Performance Food Group, The Chefs’ Warehouse, and United Natural Foods.

Currently, the analyst consensus on Sprouts Farmers is Moderate Buy and the average price target is $23.67, representing a 14.8% upside.

In a report issued on November 3, Jefferies also reiterated a Buy rating on the stock with a $23 price target.

Based on Sprouts Farmers’ latest earnings report from June 30, the company posted quarterly revenue of $1.03B and quarterly net profit of $37.21M. In comparison, last year the company earned revenue of $903.1M and had a net profit of $31.99M.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SFM in relation to earlier this year.

Sprouts Farmers Markets, Inc. engages in the operation of healthy grocery store that offers fresh, natural and organic food. 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.