Smart (SFS) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of Smart (NYSE:SFS) from a buy rating to a hold rating in a report issued on Friday.
According to Zacks, “Smart & Final Stores, Inc. is a value-oriented food and everyday staples retailer that serves household and business customers. It operates grocery and foodservice stores under the Smart & Final, Smart & Final Extra! and Cash & Carry Smart Foodservice banners in California, Oregon, Washington, Arizona, Nevada, Idaho. The Company’s stores offer various products, including basic grocery, produce, dairy, meat, beverage, foodservice, packaging, and janitorial items. Smart & Final Stores, Inc. is headquartered in Los Angeles. “
A number of other equities research analysts have also recently issued reports on the company. Morgan Stanley reaffirmed an underweight rating and set a $8.00 target price (down previously from $11.00) on shares of Smart in a research report on Monday, June 19th. Royal Bank Of Canada reaffirmed a buy rating and set a $19.00 target price on shares of Smart in a research report on Thursday, May 18th. BidaskClub cut Smart from a sell rating to a strong sell rating in a research report on Thursday, July 13th. Loop Capital started coverage on Smart in a research report on Monday, May 15th. They set a buy rating and a $17.00 target price for the company. Finally, TheStreet cut Smart from a c- rating to a d+ rating in a research report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Smart has a consensus rating of Hold and a consensus target price of $18.83.
Smart (NYSE SFS) traded down 1.31% on Friday, reaching $7.55. 825,475 shares of the company traded hands. The firm has a 50 day moving average price of $8.30 and a 200 day moving average price of $11.66. Smart has a 52-week low of $7.30 and a 52-week high of $15.45. The stock has a market capitalization of $558.85 million, a price-to-earnings ratio of 62.92 and a beta of 0.28.
Smart (NYSE:SFS) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.04. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. Smart had a net margin of 0.21% and a return on equity of 4.14%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 EPS. Equities research analysts predict that Smart will post $0.49 EPS for the current year.
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In related news, SVP Michael A. Mortensen sold 26,980 shares of the company’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $8.26, for a total value of $222,854.80. Following the completion of the transaction, the senior vice president now directly owns 48,191 shares in the company, valued at $398,057.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott R. Drew sold 21,000 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $13.02, for a total value of $273,420.00. Following the completion of the transaction, the executive vice president now owns 64,648 shares of the company’s stock, valued at $841,716.96. The disclosure for this sale can be found here. Insiders sold 101,940 shares of company stock valued at $1,097,389 over the last 90 days. 8.47% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp raised its position in shares of Smart by 11.0% in the fourth quarter. State Street Corp now owns 582,639 shares of the company’s stock worth $8,214,000 after buying an additional 57,747 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Smart by 37.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 442,587 shares of the company’s stock worth $6,240,000 after buying an additional 120,835 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Smart during the fourth quarter worth approximately $533,000. Teachers Advisors LLC raised its position in shares of Smart by 17.2% in the fourth quarter. Teachers Advisors LLC now owns 40,430 shares of the company’s stock worth $570,000 after buying an additional 5,929 shares during the last quarter. Finally, Atria Investments LLC raised its position in shares of Smart by 4.0% in the first quarter. Atria Investments LLC now owns 12,424 shares of the company’s stock worth $150,000 after buying an additional 477 shares during the last quarter.
Smart & Final Stores, Inc is a food retailer. The Company is engaged in the business of selling fresh perishables and everyday grocery items, together with foodservice, packaging and janitorial products. The Company operates through two segments: Smart & Final, and Cash and Carry. The Smart & Final segment focuses on both household and business customers.
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