UBS Maintains a 'Neutral' on United Natural Foods (UNFI); Raising PT & Estimates After Solid Q3
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Price: $48.42 -0.33%
Rating Summary:
11 Buy, 21 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
11 Buy, 21 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Neutral' on United Natural Foods (NASDAQ: UNFI) price target raised to $53.00 (from $50.00).
Analyst, Jason DeRise, said, "We believe that the natural/organic category has a long period of high growth ahead of it, which should allow UNFI to continue to deliver double digit sales growth. The upper end of UNFI’s new sales guidance range is now in line with our 12FY estimate. We estimate 15.5% sales growth in
Q.4 12FY, followed by 13% growth in 13FY (UBSe 13FY revenue is ~3-4% above consensus)."
"We increase our 12FY EPS by 1.5% to $1.95 (from $1.92), (vs guidance of $1.92-1.96). We reduce our 12FY capex to be inline with the new guidance of $35-40m (UBSe $38m), but increase 13FY capex by ~$10m to $74m (1.3% of sales) to reflect the delayed spend. A positive factor to cash flows is improved inventory days (UBSe reduced by 1.5%)." (FY13 EPS estimate raised from $2.27 to $2.30)
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 $51.20 yesterday.
Analyst, Jason DeRise, said, "We believe that the natural/organic category has a long period of high growth ahead of it, which should allow UNFI to continue to deliver double digit sales growth. The upper end of UNFI’s new sales guidance range is now in line with our 12FY estimate. We estimate 15.5% sales growth in
Q.4 12FY, followed by 13% growth in 13FY (UBSe 13FY revenue is ~3-4% above consensus)."
"We increase our 12FY EPS by 1.5% to $1.95 (from $1.92), (vs guidance of $1.92-1.96). We reduce our 12FY capex to be inline with the new guidance of $35-40m (UBSe $38m), but increase 13FY capex by ~$10m to $74m (1.3% of sales) to reflect the delayed spend. A positive factor to cash flows is improved inventory days (UBSe reduced by 1.5%)." (FY13 EPS estimate raised from $2.27 to $2.30)
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 $51.20 yesterday.
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