Jefferies Reiterates Their Buy Rating on Sprouts Farmers

By Austin Angelo

Jefferies analyst Christopher Mandeville reiterated a Buy rating on Sprouts Farmers (NASDAQ: SFM) today and set a price target of $25. The company’s shares opened today at $21.41.

According to TipRanks.com, Mandeville is a 2-star analyst with an average return of 0.5% and a 44.8% success rate. Mandeville covers the Services sector, focusing on stocks such as Core-Mark Holding Company, Papa John’s International, and Walgreens Boots Alliance.

Currently, the analyst consensus on Sprouts Farmers is Strong Buy and the average price target is $25.14, representing a 17.4% upside.

In a report issued on June 16, Oppenheimer also upgraded the stock to Buy with a $24 price target.

Based on Sprouts Farmers’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.13 billion and quarterly net profit of $46.29 million. In comparison, last year the company earned revenue of $993 million and had a net profit of $46.21 million.

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock.

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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.,008SX3-E