Piper Jaffray Remain Bullish Following Meetings with Natural Grocers (NGVC)

Piper Jaffray reiterates an Overweight rating and $36 price target on Natural Grocers (NYSE: NGVC) following meetings with management. Analyst Sean Naughton said that there are several initiatives in place to re-accelerate growth.

Naughton commented on the even, saying, "We continue to recommend shares of NGVC following meetings with management over the last couple of days. We believe NGVC can re-accelerate sales growth as competitive pressures subside compared to recent history and the company makes progress on several growth initiatives. With its attractive growth prospects, strong expense control and execution, and differentiated product offering, we continue to believe Natural Grocers is an attractive name in the natural and organic category."

Naughton also added, "Outside of markets with new competition and geographies with negative employment implications from the drop in oil prices, many of Natural Grocers' stores are comping quite well. Despite that, the company has a number of incremental growth initiatives in place to continue to improve the Natural Grocers experience. A partnership with Instacart to drive online sales, grab n' go prepared foods to drive traffic, much improved website/branding and new loyalty program to increase customer stickiness and increase basket size are a few current initiatives worth noting."

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 $25.43 yesterday.

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