Jefferies Remains Sidelined on Whole Foods Market (WFM) Following 2Q EPS Beat
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Rating Summary:
6 Buy, 25 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 2 | Down: 3 | New: 2
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Jefferies maintained a Hold rating and $31.00 price target on Whole Foods Market (NASDAQ: WFM) following the company's 2Q earnings report. WFM reported an EPS of $0.44, beating the Street's estimates of $0.41. SG&A came in better-thanexpected and helped offset weak comps and gross margins, driving the EPS beat.
Analyst Mark Wiltamuth commented, "2Q16 EPS of $0.44 beat consensus of $0.41 as cost controls offset a disappointing comp and heavier gross margin sacrifice. While the company will gradually lap out of cannibalization and a sales step down in late 3Q16, the company is still facing a tough operating environment and gross margins are expected to fall further in 2H16. Maintain Hold rating."
For an analyst ratings summary and ratings history on Whole Foods Market click here. For more ratings news on Whole Foods Market click here.
Shares of Whole Foods Market closed at $28.51 yesterday.
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