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WFM

Whole Foods

$29.33

1.37 (4.90%)

, KR

Kroger

$29.25

-0.12 (-0.41%)

09:53
10/07/16
10/07
09:53
10/07/16
09:53

Whole Foods FY17 earnings risk not fully appreciated, says Pivotal Research

Pivotal Research said recent chatter involving Kroger (KR) and Whole Foods (WFM) follows a steady stream of bogus takeover rumors that seem to surface with little or no reasonable basis. The firm's analyst said this appears to be another head fake that distracts from core challenges facing Whole Foods ahead of 4Q16 results in early November and potential disappointing FY17 guidance. Pivotal said although Whole Foods multiple is not demanding, the extent of a FY17 earnings risk is not fully appreciated by the Street.

WFM

Whole Foods

$29.33

1.37 (4.90%)

KR

Kroger

$29.25

-0.12 (-0.41%)

WFM Whole Foods
$29.33

1.37 (4.90%)

07/26/16
07/26/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Disney (DIS) and Time Warner (TWX) downgraded to Market Perform from Outperform at FBR Capital with analyst Barton Crocket saying Disney's stock "will struggle to deliver much upside" from current levels. The analyst lowered his price target for the shares to $108 from $111. The analyst downgraded Time Warner citing valuation. 2. Chipotle (CMG) downgraded to Sell from Hold at Stifel with analyst Paul Westra citing the firm's belief that the U.S. economy will probably enter a recession within nine months. 3. Whole Foods (WFM) downgraded to Sell from Neutral at Goldman with analyst Stephen Tanal saying Whole Foods is losing share in its core natural and organic business to a variety of competitors that have raised the bar and driven a consistent deceleration in Whole Foods' same-store-sales and its first negative comps in the fourth quarter of 2016 since 2009. 4. BJ's Restaurants (BJRI) downgraded to Sell from Buy at Stifel with analyst Paul Westra citing the firm's belief that the U.S. economy will probably enter a recession within nine months. 5. Yahoo (YHOO) downgraded to Equal Weight from Overweight at Morgan Stanley with analysts led by Brian Nowak saying shares going forward will solely be viewed as a trading vehicle for its 15% Alibaba (BABA) stake with the investment thesis related to shares closing the estimated 39% liquidity discount to fair market value. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/04/16
FBCO
08/04/16
NO CHANGE
Target $40
FBCO
Outperform
Whole Foods added to US Focus List at Credit Suisse
09/23/16
LEHM
09/23/16
INITIATION
Target $30
LEHM
Equal Weight
Whole Foods initiated with an Equal Weight at Barclays
Barclays analyst Karen Short started Whole Foods Market with an Equal Weight rating and $30 price target.
10/07/16
SBSH
10/07/16
NO CHANGE
Target $39
SBSH
Buy
Citi says Whole Foods buyout would be uncharacteristic for Kroger
Citi analyst Alvin Concepcion weighs in on the speculation yesterday that Kroger (KR) could be interested in acquiring Whole Foods (WFM) for $40 per share. There are challenges that reduce the likelihood of a deal, and such a transaction could be uncharacteristic for Kroger, Concepcion tells investors in a research note. For one, the acquisition would be expensive, the analyst contends. And two, Kroger would have to lever up to 3.5 times net debt/EBITDA, he adds. The analyst keeps a Buy rating on Kroger with a $39 price target. Whole Foods yesterday closed up 5% to $29.33 amid the takeout rumor.
KR Kroger
$29.25

-0.12 (-0.41%)

08/29/16
SBSH
08/29/16
NO CHANGE
Target $43
SBSH
Buy
Kroger Q2 sales could miss expectations, says Citi
Citi analyst Alvin Concepcion believes Kroger is likely to meet Q2 earnings expectations but that its sales could fall short of estimates. Kroger is likely to post Q2 ID ex-fuel sales of 1.6%, below the consensus of 2.5%, due to worsening deflation, Concepcion tells investors in a pre-earnings research note. Volume was healthy, but likely not enough to offset the deflationary pressure, the analyst argues. The Q2 earnings release could drive further share weakness, which would present a buying opportunity, Concepcion writes. He lowered his price target for Kroger shares to $43 from $44 and keeps a Buy rating on the name.
09/12/16
WELS
09/12/16
NO CHANGE
WELS
Kroger long-term risk/reward positive, says Wells Fargo
Wells Fargo says that Kroger's revised EPS guidance should ease investors' concerns and limit the decline of the stock. Wells trimmed its valuation range on the stock to $37-$38 from $40-$41 based on the company's comp deceleration and its belief that Kroger may have difficulty generating EBIT growth in 2017. Nonetheless, the firm thinks that the stock's current valuation makes its long-term risk/reward ratio positive. It keeps an Outperform rating on the shares.
09/23/16
LEHM
09/23/16
INITIATION
Target $33
LEHM
Equal Weight
Kroger initiated with an Equal Weight at Barclays
Barclays analyst Karen Short started Kroger with an Equal Weight rating and $33 price target.

TODAY'S FREE FLY STORIES

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Pain Therapeutics

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PHG

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PBF

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FRO

Frontline

$6.73

0.06 (0.90%)

, DHT

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FMBI

First Midwest

$24.11

0.16 (0.67%)

18:01
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Earnings
First Midwest reports Q1 adjusted EPS 34c, consensus 33c »

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FRO

Frontline

$6.73

0.06 (0.90%)

, DHT

DHT Holdings

$4.67

0.04 (0.86%)

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SFLY

Shutterfly

$51.46

0.18 (0.35%)

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HBNC

Horizon Bancorp

$27.24

0.37 (1.38%)

17:57
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Earnings
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BXP

Boston Properties

$133.97

1.18 (0.89%)

17:57
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KMT

Kennametal

$40.48

1.15 (2.92%)

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BXP

Boston Properties

$133.97

1.18 (0.89%)

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BXP

Boston Properties

$133.97

1.18 (0.89%)

17:55
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ZIXI

ZixCorp

$5.21

-0.14 (-2.62%)

, IRBT

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SMBK

SmartFinancial

$22.31

0.61 (2.81%)

17:52
04/25/17
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Earnings
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  • 26

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SXT

Sensient

$83.27

1.18 (1.44%)

17:51
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Earnings
Sensient reafirms FY17 adjusted EPS view $3.35-$3.45, consensus $3.41 »

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  • 26

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FTI

TechnipFMC

$32.12

0.23 (0.72%)

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SXT

Sensient

$83.27

1.18 (1.44%)

17:50
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Sensient reports Q1 adjusted EPS 82c, consensus 82c »

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  • 26

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ZIXI

ZixCorp

$5.21

-0.14 (-2.62%)

17:41
04/25/17
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ZixCorp announces up to $10M share repurchase program »

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UMBF

UMB Financial

$77.08

0.195 (0.25%)

17:35
04/25/17
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Hot Stocks
UMB Financial approves 2M shares repurchase plan »

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MSA

MSA Safety

$73.25

0.9 (1.24%)

17:35
04/25/17
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Earnings
MSA Safety reports Q1 cont ops EPS 37c, consensus 50c »

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OESX

Orion Energy

$1.79

-0.04 (-2.19%)

17:32
04/25/17
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Earnings
Orion Energy sees Q4 revenue $15.1-$15.5M, consensus $20.72M »

The company said,…

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  • 26

    Apr

RCII

Rent-A-Center

$10.86

-0.15 (-1.36%)

17:29
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  • 02

    May

LMT

Lockheed Martin

$270.02

-6.19 (-2.24%)

17:28
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Lockheed Martin awarded $109.5M government contract »

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