Analysts lowers targets on United Natural Foods Inc. (UNFI:NYE) after disappointing earnings

United Natural Foods Inc Stock Forecast:

UNFI Ratings by Stock Target Advisor

According to the predictions of 13 analysts, the average target price for United Natural Foods Inc over the next year is USD 41.92. The analysts’ consensus rating for the company is “Buy”. Stock Target Advisor has conducted its own analysis and predicts a positive outlook for the company, based on 11 positive signals and 4 negative signals. Currently, the stock is priced at USD 29.47. However, the stock has experienced significant decreases in value, with drops of -29.23% over the past week, -29.35% over the past month, and -25.71% over the past year.

Analysts Coverage Change:

  • Goldman Sachs & Co. maintains a “Neutral” rating for United Natural Foods Inc. and lowers the price target to $30 from $43.
  • Deutsche Bank  lowers the price target to $35 from $41.
  • CL King & Associates Downgrades United Natural Foods Inc to a “Neutral” rating.
  • Wells Fargo & Company lowers the price target to $28 from $40.
  • BMO Capital Markets maintains a “Market Perform” rating and lowers the price target to $28 from $40.

United Natural Foods Inc. News:

Shares of United Natural Foods (UNFI:NYE) took a hit after the organic and natural foods distributor and supermarket operator announced a disappointing earnings report for its fiscal second quarter of 2023. Although the company managed to exceed sales predictions, reporting $7.8 billion in sales, its earnings fell significantly short of Wall Street expectations.

The company’s non-GAAP profit, which is adjusted to exclude certain expenses, came in at just $0.78 per share, far lower than the expected $1.46 per share. And the generally accepted accounting principles (GAAP) number was even worse, with the company reporting a loss of $1.28 per share.

Investors reacted strongly to the earnings miss, with UNFI’s stock falling by 27.5% by mid-morning on Wednesday. The drop highlights the importance of meeting earnings expectations in the eyes of investors, who often react negatively to earnings misses.

The disappointing earnings report may also raise concerns about the company’s future performance, particularly as consumers continue to demand organic and natural foods. UNFI will need to address its earnings shortfall and demonstrate a solid plan for future growth in order to regain investor confidence and support.

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