RBC Capital analyst William Kirk lowered his price target on Whole Foods Market (NASDAQ: WFM) to $46.00 (from $51.00) but maintained an Outperform rating following weaker-than-expected Q3 results.

Krik commented, "After a weaker-than-expected quarter, soft quarter-to-date trends, and commentary suggesting near-term comp growth isn't the priority, shareholders shouldn't expect a meaningful acceleration off these results. That said, we believe the valuation (8x EV/EBITDA in after-hours) is compelling and those with long time horizons can reap the benefits of increased demographic penetration achieved by the 365 proposition."

The firm's new EPS is $0.36 for 4Q15E (from $0.39) and $1.85 for FY16E (from $1.93).

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 $40.82 yesterday.

Analyst Comments Analyst EPS Change Analyst EPS View Analyst PT Change

Imperial Capital Cuts Price Target on Whole Foods Market (WFM) to $53 Following 3Q Results July 31, 2015 7:49 AM Whole Foods Market (WFM) PT Slashed to $35 at BMO Capital; 'Comp Trends and Visibility Remain Challenging'July 30, 2015 8:18 AM Wedbush Downgrades Whole Foods Market (WFM) to NeutralJuly 30, 2015 7:27 AM Whole Foods Market (WFM) PT Cut to $45 at SunTrust Robinson Humphrey; Maintains 'Buy'July 30, 2015 7:17 AM Morgan Stanley Downgrades Whole Foods Market (WFM) to EqualweightJuly 30, 2015 7:02 AM Canaccord Genuity Downgrades Whole Foods Market (WFM) to HoldJuly 30, 2015 6:48 AM Whole Foods Market (WFM) Misses Q3 EPS by 1c, Sees FY15 Comp Sales Growth in Low Single DigitsJuly 29, 2015 4:05 PM Whole Foods Market Reports Third Quarter ResultsJuly 29, 2015 4:04 PM