United Natural Foods Lowered to “Neutral” at UBS AG (UNFI)
United Natural Foods (NASDAQ:UNFI) was downgraded by UBS AG from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, TheFlyOnTheWall.com reports. They currently have a $73.00 target price on the stock. UBS AG’s price objective would indicate a potential upside of 1.57% from the company’s current price. The analysts noted that the move was a valuation call.
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 52 week low of $47.20 and a 52 week high of $69.35. The stock has a 50-day moving average of $60.56 and a 200-day moving average of $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 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue 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.
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 shares were sold at an average price of $68.82, for a total transaction of $350,500.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several other analysts have also recently commented on the stock. 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. Separately, 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. Finally, analysts at Deutsche Bank initiated coverage on shares of United Natural Foods in a research note to investors on Wednesday, September 25th. They set a “hold” rating and a $65.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $67.20.
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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