|Bid||29.71 x 800|
|Ask||29.74 x 1000|
|Day's Range||29.71 - 30.63|
|52 Week Range||21.18 - 35.34|
|Beta (5Y Monthly)||0.43|
|PE Ratio (TTM)||12.22|
|Earnings Date||Nov 02, 2022 - Nov 07, 2022|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||28.77|
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Sprouts Farmers (SFM) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
The grocery-store industry is tough under normal conditions. The COVID-19 pandemic was a boon for grocery stores as spending shifted away from restaurants, but now, spending patterns are getting back to normal. Combine that headwind with historically high inflation and recession fears, and you have the makings of a very difficult environment for grocery stores.
Sprouts Farmers' (SFM) second-quarter comparable store sales increase 2% year over year. For the third quarter, the company expects comparable stores sales growth in the bracket of 1-2%.