United Natural Foods Just Posted A 6-Month High Off Strong Earnings Report

Shares of United Natural Foods, Inc. UNFI rode a nice wave Monday afternoon after the company posted a better-than-expected earnings report.

United Natural Foods reported Q3 EPS of $0.76 vs. $0.66 estimates, and sales of $2.13 billion vs. $2.16 billion estimates.

The real beat, however, came from its guidance projections. The food distributor raised its 2016 fiscal year outlook to $2.39-$2.45 with sales of $8.46-$8.5 billion. The estimate was $2.38 and $8.41 billion, respectively.

Year-over-year, third quarter sales increased 0.8 percent to $2.13 billion.

The stock immediately rallied, trading more than 10 percent from $38.94 all the way up to $43.39 in the after-hours session, though some traders attributed that activity to a sympathy move in Whole Foods Market, Inc. WFM.