Analyst Update: United Natural Foods, Spirit, FireEye

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.