StockNews.com Lowers UniFirst (NYSE:UNF) to Hold

StockNews.com lowered shares of UniFirst (NYSE:UNF) from a buy rating to a hold rating in a report released on Saturday morning.

Several other equities analysts also recently weighed in on the stock. Robert W. Baird reiterated a neutral rating and issued a $185.00 price target on shares of UniFirst in a report on Thursday, January 4th. Barclays increased their price objective on shares of UniFirst from $160.00 to $180.00 and gave the stock an equal weight rating in a research note on Thursday, February 29th. Finally, UBS Group boosted their target price on shares of UniFirst from $184.00 to $186.00 and gave the company a neutral rating in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $177.75.

UniFirst Trading Down 0.8 %

Shares of UniFirst stock opened at $162.94 on Friday. The firm’s 50 day simple moving average is $166.70 and its two-hundred day simple moving average is $169.83. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 26.67 and a beta of 0.82. UniFirst has a 12-month low of $150.50 and a 12-month high of $187.22.

UniFirst (NYSE:UNF) last announced its quarterly earnings data on Wednesday, March 27th. The textile maker reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.19). The company had revenue of $590.71 million for the quarter, compared to analysts’ expectations of $587.56 million. UniFirst had a net margin of 4.92% and a return on equity of 6.19%. On average, sell-side analysts predict that UniFirst will post 7.48 EPS for the current fiscal year.

UniFirst Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Friday, June 7th. UniFirst’s payout ratio is 21.60%.

Insider Buying and Selling at UniFirst

In other news, EVP William Masters Ross sold 2,282 shares of UniFirst stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $175.27, for a total value of $399,966.14. Following the sale, the executive vice president now directly owns 4,034 shares of the company’s stock, valued at $707,039.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.74% of the company’s stock.

Institutional Investors Weigh In On UniFirst

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in UniFirst in the 3rd quarter valued at about $1,516,000. DAVENPORT & Co LLC lifted its position in UniFirst by 2.1% during the third quarter. DAVENPORT & Co LLC now owns 7,061 shares of the textile maker’s stock worth $1,151,000 after buying an additional 148 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in UniFirst by 3,393.2% during the third quarter. Exchange Traded Concepts LLC now owns 4,122 shares of the textile maker’s stock worth $672,000 after buying an additional 4,004 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in UniFirst by 12.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 3,679 shares of the textile maker’s stock valued at $600,000 after buying an additional 400 shares in the last quarter. Finally, Simplicity Solutions LLC increased its stake in shares of UniFirst by 6.3% in the 3rd quarter. Simplicity Solutions LLC now owns 1,786 shares of the textile maker’s stock worth $291,000 after acquiring an additional 106 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

UniFirst Company Profile

UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada. The company operates through U.S. and Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. It designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.