UBS Maintains a 'Neutral' on United Natural Foods (UNFI); Investment Thesis: Balancing Growth and Cash Flows
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Price: $54.53 -0.13%
Rating Summary:
6 Buy, 5 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
6 Buy, 5 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade UNFI Now!
UBS maintains a 'Neutral' on United Natural Foods (NASDAQ: UNFI) price target of $55.00 (from $53.00).
Analyst, Jason DeRise, said, "UNFI guided that it would achieve FCF in the $30-50m range despite capex rising from $31m to $70-80m (UBSe $75m, 1.25% of sales). In addition to an estimated incremental $18m in net income we expect working capital to improve ($27m). UNFI expects inventory days to improve, which we estimate improves to 48 days from 50 (though there was minimal improvement in H2 12FY vs expectations). In addition, accounts receivable will likely be less of headwind. These offset some of the ramp up in capex, allowing FCF to be $29m."
FY13 EPS estimate lowered from $2.38 to $2.24 and FY14 from $2.64 to $2.61.
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 $55.24 yesterday, with a 52 week range of $32.83-$61.21.
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Analyst, Jason DeRise, said, "UNFI guided that it would achieve FCF in the $30-50m range despite capex rising from $31m to $70-80m (UBSe $75m, 1.25% of sales). In addition to an estimated incremental $18m in net income we expect working capital to improve ($27m). UNFI expects inventory days to improve, which we estimate improves to 48 days from 50 (though there was minimal improvement in H2 12FY vs expectations). In addition, accounts receivable will likely be less of headwind. These offset some of the ramp up in capex, allowing FCF to be $29m."
FY13 EPS estimate lowered from $2.38 to $2.24 and FY14 from $2.64 to $2.61.
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 $55.24 yesterday, with a 52 week range of $32.83-$61.21.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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