United Natural Foods (UNFI) Posts Quarterly Earnings Results, Meets Expectations
United Natural Foods (NASDAQ:UNFI) announced its earnings results on Thursday. The company reported $0.60 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.60, RTT News reports. United Natural Foods had a net margin of 1.40% and a return on equity of 8.10%. During the same period in the prior year, the company earned $0.58 EPS. United Natural Foods updated its FY18 guidance to ~$2.72-2.80 EPS.
Shares of United Natural Foods (UNFI) opened at $49.53 on Friday. United Natural Foods has a 1-year low of $29.53 and a 1-year high of $52.69. The firm has a market cap of $2,510.83, a PE ratio of 19.23, a PEG ratio of 3.62 and a beta of 1.46. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.36 and a quick ratio of 0.90.
United Natural Foods announced that its board has authorized a share repurchase plan on Friday, October 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
Several research analysts recently commented on the stock. Susquehanna Bancshares set a $49.00 price target on shares of United Natural Foods and gave the stock a “hold” rating in a research note on Thursday. Loop Capital raised their price target on shares of United Natural Foods to $56.00 and gave the stock a “buy” rating in a research note on Friday. Oppenheimer reaffirmed a “hold” rating on shares of United Natural Foods in a research note on Tuesday. Royal Bank Of Canada reaffirmed an “underperform” rating and issued a $34.00 price target on shares of United Natural Foods in a research note on Monday. Finally, BidaskClub raised shares of United Natural Foods from a “hold” rating to a “buy” rating in a research note on Saturday, December 2nd. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $42.56.
About United Natural Foods
United Natural Foods, Inc is a distributor and retailer of natural, organic and specialty products. The Company’s segments include Wholesale and Other. The Wholesale segment is engaged in the national distribution of natural, organic and specialty foods, produce and related products in the United States and Canada.
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