Smart (SFS) Trading Down 10.9%

Shares of Smart (NYSE:SFS) dropped 10.9% during mid-day trading on Monday . The stock traded as low as $6.90 and last traded at $6.95. Approximately 857,515 shares were traded during mid-day trading, an increase of 23% from the average daily volume of 696,905 shares. The stock had previously closed at $7.80.

SFS has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Smart from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Morgan Stanley reiterated an “underweight” rating and issued a $8.00 target price (down previously from $11.00) on shares of Smart in a research note on Monday, June 19th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $19.00 target price on shares of Smart in a research note on Friday, July 21st. TheStreet lowered shares of Smart from a “c-” rating to a “d+” rating in a research note on Tuesday, July 18th. Finally, BidaskClub lowered shares of Smart from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Smart presently has a consensus rating of “Hold” and a consensus price target of $19.47.

The company’s 50 day moving average is $7.33 and its 200-day moving average is $9.78. The firm has a market cap of $525.54 million, a price-to-earnings ratio of 59.17 and a beta of 0.36.

Smart (NYSE:SFS) last announced its earnings results on Tuesday, July 25th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.04). The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Smart had a return on equity of 4.14% and a net margin of 0.21%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 earnings per share. On average, analysts anticipate that Smart will post $0.49 EPS for the current year.

In other news, Director Joseph S. Tesoriero bought 5,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were acquired at an average cost of $6.95 per share, with a total value of $34,750.00. Following the completion of the transaction, the director now owns 20,140 shares of the company’s stock, valued at approximately $139,973. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael A. Mortensen sold 19,304 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $7.59, for a total value of $146,517.36. The disclosure for this sale can be found here. Company insiders own 8.47% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its position in Smart by 8.1% in the second quarter. Victory Capital Management Inc. now owns 3,229,048 shares of the company’s stock worth $29,384,000 after purchasing an additional 242,135 shares during the last quarter. Franklin Resources Inc. boosted its position in Smart by 10.3% in the second quarter. Franklin Resources Inc. now owns 3,026,922 shares of the company’s stock worth $27,545,000 after purchasing an additional 282,997 shares during the last quarter. Vanguard Group Inc. boosted its position in Smart by 4.7% in the second quarter. Vanguard Group Inc. now owns 2,386,074 shares of the company’s stock worth $21,714,000 after purchasing an additional 107,655 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Smart by 50.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,121,872 shares of the company’s stock worth $10,209,000 after purchasing an additional 377,326 shares during the last quarter. Finally, Boston Partners purchased a new position in Smart in the second quarter worth about $4,876,000.

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About Smart

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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