Sweetgreen (NYSE:SG) Upgraded by Wall Street Zen to Sell Rating

Wall Street Zen upgraded shares of Sweetgreen (NYSE:SG) from a strong sell rating to a sell rating in a report published on Sunday.

Several other equities research analysts also recently weighed in on the company. BNP Paribas Exane increased their price target on Sweetgreen from $4.50 to $5.00 and gave the stock an “underperform” rating in a report on Friday, May 8th. Citigroup dropped their price objective on Sweetgreen from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, August 7th. JPMorgan Chase & Co. raised Sweetgreen from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $8.00 to $13.00 in a research report on Friday, May 22nd. DA Davidson reduced their target price on Sweetgreen from $7.00 to $5.50 and set a “neutral” rating on the stock in a research note on Monday, August 10th. Finally, Royal Bank Of Canada decreased their target price on Sweetgreen from $7.00 to $6.50 and set an “outperform” rating for the company in a research report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.10.

Sweetgreen Trading Down 0.4%

Sweetgreen stock opened at $6.25 on Friday. Sweetgreen has a 12-month low of $4.49 and a 12-month high of $10.63. The firm has a 50-day moving average price of $7.43 and a 200-day moving average price of $6.80. The firm has a market capitalization of $744.36 million, a PE ratio of 62.54 and a beta of 2.20.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.09). Sweetgreen had a negative return on equity of 32.94% and a net margin of 2.01%.The firm had revenue of $192.66 million during the quarter, compared to analysts’ expectations of $194.50 million. During the same period last year, the company earned ($0.20) earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that Sweetgreen will post -0.98 earnings per share for the current fiscal year.

Institutional Trading of Sweetgreen

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new stake in shares of Sweetgreen in the 2nd quarter valued at about $2,792,000. Versant Capital Management Inc increased its holdings in shares of Sweetgreen by 241.5% in the 2nd quarter. Versant Capital Management Inc now owns 10,518 shares of the company’s stock valued at $93,000 after acquiring an additional 7,438 shares during the period. Eastern Bank increased its holdings in shares of Sweetgreen by 29.1% in the 2nd quarter. Eastern Bank now owns 25,224 shares of the company’s stock valued at $222,000 after acquiring an additional 5,693 shares during the period. Quantinno Capital Management LP raised its position in shares of Sweetgreen by 495.3% in the 1st quarter. Quantinno Capital Management LP now owns 193,757 shares of the company’s stock worth $1,006,000 after acquiring an additional 161,209 shares in the last quarter. Finally, SummitTX Capital L.P. bought a new position in shares of Sweetgreen in the 1st quarter worth $98,000. 95.75% of the stock is owned by hedge funds and other institutional investors.

About Sweetgreen

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.