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Up 30% in September, Does United Natural Foods Have More Room to Run? By StockNews

by Mike Robinson

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© Reuters. United Natural Foods is up 30% in September

Shares of the largest publicly traded grocery distributor United Naturals Foods (UNFI) have gained significant momentum over the past month due to the company’s continued growth efforts through strategic partnerships. The stock is struggling to keep its momentum due to mixed analyst forecasts and weak fundamentals. Let’s discuss.Premier food wholesaler United Naturals Foods Inc. (UNFI) offers natural, organic, specialty, produce, and conventional groceries in the United States and Canada. The stock has gained 37% over the past three months, driven by the company’s recent collaboration with RangeMe, the leading online platform that streamlines new product discovery and solar project developer Pine Gates Renewables.

UNFI’s shares have gained 31.9% over the past month and 202.4% year-to-date to close yesterday’s trading session at $48.3. Although the company may see top-line growth from its strategic alliances, weak fundamentals could make this rally insurmountable, particularly in volatile markets.

Here’s what could shape UNFI’s performance in the near term:

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