RBC Capital Cuts Price Target on Natural Grocers (NGVC) Following 4Q Miss
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Rating Summary:
8 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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RBC Capital maintained a Sector Perform rating on Natural Grocers (NYSE: NGVC), and cut the price target to $15.00 (from $16.00), following the company's 4Q earnings report. Management reported revenue of $181m, compared to consensus estimate of $184.1m. $0.07 EPS slightly missed consensus of $0.08.
Analyst William Kirk commented, "NGVC's comp trends decelerated sequentially, but held well on a two-year basis. That said, FY17 comp guidance implies a meaningful two-year deceleration. 1Q will likely be the weakest FY17 quarter, given tougher prior-year comp and QTD trends that suggest bottom of full-year range. Without a catalyst, we remain on the sidelines. We reiterate our Sector Perform rating and lower our price target to $15 from $16."
For an analyst ratings summary and ratings history on Natural Grocers click here. For more ratings news on Natural Grocers click here.
Shares of Natural Grocers closed at $11.64 yesterday.
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