Analyst Update: United Natural Foods, Spirit, FireEye

Analysts adjusted their ratings on United Natural Foods, Inc. (UNFI), Spirit Airlines Incorporated (SAVE), and FireEye Inc (FEYE)

Dec 8, 2015 at 1:26 PM
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Analysts are weighing in today on organic food distributor United Natural Foods, Inc. (NASDAQ:UNFI), travel concern Spirit Airlines Incorporated (NASDAQ:SAVE), and cybersecurity stock FireEye Inc (NASDAQ:FEYE). Here's a quick roundup of today's brokerage notes on UNFI, SAVE, and FEYE.

  • UNFI is trading 17% lower at $36.54, and just off a new near-four-year low of $36.12, after reporting disappointing quarterly earnings last night. The news earned United Natural Foods, Inc., which has lost nearly 53% of its value so far in 2015, a downgrade to "underweight" from "equal weight" at Barclays, along with no fewer than eight price-target cuts. Analysts were already bearish on UNFI heading into today's session, with nine out of 13 maintaining "hold" or worse ratings. Options traders had been pricing in a smaller post-earnings move of 7.8%, based on UNFI's near-term at-the-money straddle -- though this was still larger than the stock's average one-day swing of 3.1% over the last seven quarters. And UNFI's 50-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) of 4.94 is higher than 89% of readings from the past year -- indicating many bearish bettors should be happy with today's drop.

  • SAVE is on the downswing today, slipping 3.9% to trade at $40.99, despite receiving a price-target increase to $55 from $50 at Cowen and Company this morning. Today's slump is likely in sympathy with low-cost rival Southwest Airlines Co (NYSE:LUV), which reported an uninspiring fourth-quarter outlook today. Spirit Airlines Incorporated has continued to attract bullish attention over recent weeks, even while sitting on a 45.8% year-to-date loss -- and despite hitting a two-year low as recently as mid-November. The only sign that sentiment is turning on this underperformer is a 35.2% rise in short interest over the last two reporting periods.

  • FEYE is trading 7.7% higher at $21.74, after Citigroup raised its rating on the stock to "buy" from "neutral," and its price target to $35 from $31, citing the company's ability to "grow quickly" and "expand its product line." The cybersecurity firm saw a short-lived rally last week, after toymaker VTech Holdings called on the company's Mandiant Response team to review its handling of customer information in light of a recent data breach. But on Friday the shares slid again, hitting an all-time low at $19.76. Today's jump may give options traders hope, as FireEye Inc's 10-day call/put volume ratio on the ISE, CBOE, and PHLX is in the 94th annual percentile at 6.33. But the shares have been running into significant resistance at their downtrending 20-day moving average, which has guided FEYE lower since late June. Should any of FEYE's bulls abandon their positions, the stock could be poised to hit new lows.
For other stocks in analysts' crosshairs, read Analyst Upgrades: Amazon.com, Inc., TherapeuticsMD Inc, and Marriott International Inc and Analyst Downgrades: Ctrip.com International, Ltd., Outerwall Inc, and Seadrill Ltd.
 

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