Barclays Maintains an 'Equalweight' on United Natural Foods (UNFI); Q3 Preview
Tweet Send to a FriendGet Alerts UNFI Hot Sheet
Price: $53.92 +0.02%
Rating Summary:
6 Buy, 5 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
6 Buy, 5 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade UNFI Now!
Barclays maintains an 'Equalweight' on United Natural Foods (NASDAQ: UNFI) price target of $40.00.
Analyst, Meredith Adler, said, "Our 3Q12 EPS estimate is $0.56, in line with consensus. We estimate sales for the quarter of $1.37 billion, an increase of 13.7%. Excluding an estimated $60 million from the addition of Safeway (NYSE: SWY) as a new customer and ~$20 million from last year's 3Q for the divested non-foods business, we are forecasting core sales growth of 10.5% across all divisions. We forecast the operating margin to be up 13 bp, with the gross margin down 35 bp and SG&A dollars growing by 10.0%."
Adler keeps an Equalweight rating on shares of UNFI, citing strong revenue growth as opposed to strong EPS growth...in simple terms, sales have gone up, but gross margins have gone down. Also the new warehouse management system is a positive, but may take years to implement and payoff.
For an analyst ratings summary and ratings history on United Natural Foods click here. For more ratings news on United Natural Foods click here.
Shares of United Natural Foods closed at $50.70 yesterday, with a 52 week range of $32.83-$51.92.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Meredith Adler, said, "Our 3Q12 EPS estimate is $0.56, in line with consensus. We estimate sales for the quarter of $1.37 billion, an increase of 13.7%. Excluding an estimated $60 million from the addition of Safeway (NYSE: SWY) as a new customer and ~$20 million from last year's 3Q for the divested non-foods business, we are forecasting core sales growth of 10.5% across all divisions. We forecast the operating margin to be up 13 bp, with the gross margin down 35 bp and SG&A dollars growing by 10.0%."
Adler keeps an Equalweight rating on shares of UNFI, citing strong revenue growth as opposed to strong EPS growth...in simple terms, sales have gone up, but gross margins have gone down. Also the new warehouse management system is a positive, but may take years to implement and payoff.
For an analyst ratings summary and ratings history on United Natural Foods click here. For more ratings news on United Natural Foods click here.
Shares of United Natural Foods closed at $50.70 yesterday, with a 52 week range of $32.83-$51.92.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Says Tesla (TSLA) 'Top Pick in U.S. Autos'
- UBS Survey Shows Signs of Strength for Gilead's (GILD) TAF
- Lazard Cuts PT on Aruba (ARUN) to $18; Cisco Pressure Lingers, But Fundamentals Solid
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS ViewRelated Entities
Barclays
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
