Why Sprouts Farmers Market Is Rocketing Higher Today
Shares of attribute-focused, specialty grocery chain Sprouts Farmers Market (NASDAQ: SFM) are up 17% as of noon ET on Thursday following the company's excellent first-quarter earnings. While sales only inched 4% higher -- and earnings per share actually dipped 6% -- these figures outpaced Wall Street's low expectations. More importantly, management guided for full-year revenue growth of 5.5% and EPS of roughly $5.40, leaving the stock trading at just 15 times forward earnings, even after today's rise. With ...