Pivotal Research Analysts Give United Natural Foods (UNFI) a $34.00 Price Target
United Natural Foods (NASDAQ:UNFI) has been given a $34.00 price target by Pivotal Research in a research note issued on Monday. The brokerage presently has a “sell” rating on the stock. Pivotal Research’s price target points to a potential downside of 25.54% from the company’s previous close.
The analysts wrote, “We’ve now modeled capex at around 1.0% of sales for FY19-20 (from 0.6% previously). Despite surging revenue, guidance raise seems all tax cut driven – There is little substantive change in the pre-tax earnings range based on each recent guidance revision. After stripping out the impact of the tax rate changes, we estimate that the implied pre-tax income range for FY18 is around $229-$235 million (virtually unchanged from the prior range). The upside in the latest guidance appears to be driven almost entirely by the tax rate. The takeaway is that there is little or no flow through to earnings from the improving top-line outlook. We would infer that most of this incremental volume is coming from Amazon.””
Several other research analysts also recently weighed in on the company. Loop Capital set a $56.00 price target on United Natural Foods and gave the stock a “buy” rating in a research note on Friday, December 8th. Goldman Sachs Group reiterated a “neutral” rating and set a $41.00 price target on shares of United Natural Foods in a research note on Tuesday, November 14th. BMO Capital Markets set a $54.00 price target on United Natural Foods and gave the stock a “hold” rating in a research note on Saturday, December 9th. Stephens set a $51.00 price target on United Natural Foods and gave the stock a “hold” rating in a research note on Wednesday, January 17th. Finally, Northcoast Research upgraded United Natural Foods from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. United Natural Foods presently has a consensus rating of “Hold” and an average target price of $44.88.
United Natural Foods (NASDAQ:UNFI) last posted its quarterly earnings results on Thursday, March 8th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.17. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.45 billion. United Natural Foods had a return on equity of 8.49% and a net margin of 1.61%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 EPS. equities research analysts expect that United Natural Foods will post 3.07 earnings per share for the current fiscal year.
In related news, insider Christopher P. Testa sold 4,744 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $49.47, for a total transaction of $234,685.68. Following the sale, the insider now owns 14,782 shares of the company’s stock, valued at approximately $731,265.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Sean Griffin sold 12,351 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $49.41, for a total value of $610,262.91. The disclosure for this sale can be found here. Insiders have sold a total of 78,651 shares of company stock worth $3,919,614 in the last three months. 1.40% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC raised its holdings in shares of United Natural Foods by 80.0% in the 4th quarter. SG Americas Securities LLC now owns 24,980 shares of the company’s stock valued at $1,231,000 after acquiring an additional 11,100 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of United Natural Foods in the 3rd quarter valued at about $3,205,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of United Natural Foods in the 4th quarter valued at about $4,433,000. M&T Bank Corp purchased a new stake in shares of United Natural Foods in the 4th quarter valued at about $309,000. Finally, Old Mutual Global Investors UK Ltd. purchased a new stake in shares of United Natural Foods in the 4th quarter valued at about $112,000.
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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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