United Natural Foods (NASDAQ:UNFI)‘s stock had its “neutral” rating reiterated by Zacks in a report released on Wednesday, American Banking and Market News reports. They currently have a $77.00 price target on the stock. Zacks‘ price objective points to a potential upside of 7.14% from the stock’s previous close.
Zacks‘ analyst wrote, “United Natural’s fourth quarter fiscal 2013 earnings of $0.65 per share beat the Zacks Consensus Estimate by 8.3% and the prior-year quarter by 27.5%, driven by top-line growth and margin improvement. Sales marginally beat the Zacks Consensus Estimate and increased 22.2% year over year on the back of consistent demand for the company s organic and natural food products and one additional week in the fourth quarter. We remain impressed with the company s decision to divest the non-foods and general merchandise lines, which has allowed it to concentrate on its core business of natural, organic, and specialty foods distribution. However, United Natural continues to be adversely affected by the continued shift in the company’s customer mix to lower-margin conventional supermarkets, which has impacted its gross margins over the last few quarters. We thus remain on the sidelines with a Neutral recommendation.”
Shares of United Natural Foods (NASDAQ:UNFI) traded down 1.80% during mid-day trading on Wednesday, hitting $71.87. 282,862 shares of the company’s stock traded hands. United Natural Foods has a 1-year low of $47.20 and a 1-year high of $69.35. The stock’s 50-day moving average is $60.56 and its 200-day moving average is $54.3. The company has a market cap of $3.545 billion and a P/E ratio of 33.57.
United Natural Foods (NASDAQ:UNFI) last issued its quarterly earnings data on Thursday, September 12th. The company reported $0.65 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.60 by $0.05. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, analysts predict that United Natural Foods will post $2.51 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on UNFI. Analysts at UBS AG downgraded shares of United Natural Foods from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday. They now have a $73.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at BMO Capital Markets initiated coverage on shares of United Natural Foods in a research note to investors on Tuesday, October 15th. They set an “outperform” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of United Natural Foods from $68.00 to $71.00 in a research note to investors on Monday, September 30th. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $67.20.
In other United Natural Foods news, Insider Craig Harder Smith sold 5,093 shares of United Natural Foods stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $68.82, for a total value of $350,500.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
United Natural Foods, Inc is a distributor of natural, organic and specialty foods and non-food products in the United States and Canada.
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