UniFirst (NYSE:UNF) Upgraded to “Buy” by StockNews.com

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

Several other equities research analysts have also recently issued reports on UNF. Barclays raised their target price on shares of UniFirst from $160.00 to $180.00 and gave the stock an equal weight rating in a report on Thursday, February 29th. UBS Group increased their target price on UniFirst from $184.00 to $186.00 and gave the company a neutral rating in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $177.75.

UniFirst Price Performance

UNF stock traded up $1.79 on Friday, reaching $161.39. 56,520 shares of the company traded hands, compared to its average volume of 86,120. The firm has a fifty day simple moving average of $166.06 and a 200-day simple moving average of $169.72. The company has a market cap of $3.01 billion, a P/E ratio of 26.12 and a beta of 0.83. UniFirst has a one year low of $150.50 and a one year high of $187.22.

UniFirst (NYSE:UNF) last announced its quarterly earnings data on Wednesday, March 27th. The textile maker reported $1.22 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.19). The firm 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 forecast that UniFirst will post 7.48 EPS for the current year.

UniFirst Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.33 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.82%. UniFirst’s dividend payout ratio (DPR) is presently 21.60%.

Insider Buying and Selling at UniFirst

In related news, EVP William Masters Ross sold 2,282 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 4,034 shares in the company, valued at $707,039.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.74% of the company’s stock.

Institutional Trading of UniFirst

Several institutional investors and hedge funds have recently made changes to their positions in the business. Eagle Bay Advisors LLC increased its holdings in UniFirst by 78.1% during the 4th quarter. Eagle Bay Advisors LLC now owns 171 shares of the textile maker’s stock worth $31,000 after purchasing an additional 75 shares during the period. Principal Securities Inc. bought a new stake in shares of UniFirst in the fourth quarter valued at about $80,000. Quest Partners LLC purchased a new position in UniFirst during the fourth quarter valued at approximately $82,000. Orion Capital Management LLC purchased a new position in shares of UniFirst in the 3rd quarter valued at $99,000. Finally, SRS Capital Advisors Inc. lifted its stake in shares of UniFirst by 22.1% during the 3rd quarter. SRS Capital Advisors Inc. now owns 707 shares of the textile maker’s stock worth $115,000 after purchasing an additional 128 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

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.