United Natural Foods (NASDAQ: UNFI)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Friday. They currently have a $53.00 price target on the stock.
Zacks‘ analyst wrote, “United Natural delivered in-line second quarter fiscal 2013 earnings of $0.50 per share, which increased 11.1% from the prior-year quarter, driven by top-line growth and improved operational efficiency. Sales lagged the Zacks Consensus Estimate but were ahead of the prior-year quarter on the back of continuous increase in demand for the company’s organic and natural food products. Also, its decision to divest the company’s non-foods and general merchandise lines has allowed it to concentrate on its core business of the distribution of natural, organic, and specialty foods. However, United Natural remains severely impacted by the continued shift in the company’s customer mix. Despite this, we remain impressed with the company’s warehouse management system, operational productivity and its focus on increasing service levels. We thus remain on the sidelines with a Neutral recommendation.”
A number of other firms have also recently commented on UNFI. Analysts at Goldman Sachs cut their price target on shares of United Natural Foods from $58.00 to $51.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Separately, analysts at BMO Capital Markets reiterated an “outperform” rating on shares of United Natural Foods in a research note to investors on Wednesday. They now have a $70.00 price target on the stock. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of United Natural Foods in a research note to investors on Tuesday, December 4th.
Nine research analysts have rated the stock with a buy rating, one has given an overweight rating, seven have given a hold rating, and one has given a sell rating to the company’s stock. The company presently has an average rating of “overweight” and a consensus target price of $58.67.
United Natural Foods traded down 0.59% on Friday, hitting $50.32. United Natural Foods has a 52-week low of $44.08 and a 52-week high of $61.26. The stock’s 50-day moving average is currently $53.21. The company has a market cap of $2.480 billion and a price-to-earnings ratio of 25.46.
United Natural Foods last posted its quarterly earnings results on Tuesday, February 26th. The company reported $0.46 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.50 by $0.04. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the company posted $0.45 earnings per share. United Natural Foods’s revenue was up 12.4% compared to the same quarter last year. United Natural Foods has set its FY13 guidance at $2.15-2.21 EPS. Analysts expect that United Natural Foods will post $2.20 EPS for the current fiscal year.
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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