UniFirst (NYSE:UNF) Price Target Increased to $190.00 by Analysts at UBS Group

UniFirst (NYSE:UNF) had its price target increased by UBS Group from $186.00 to $190.00 in a report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the textile maker’s stock.

A number of other research analysts have also recently commented on the company. JPMorgan Chase & Co. increased their price target on UniFirst from $170.00 to $175.00 and gave the company an underweight rating in a research note on Thursday. Robert W. Baird raised their target price on UniFirst from $185.00 to $199.00 and gave the stock a neutral rating in a research report on Thursday. Barclays raised their target price on UniFirst from $160.00 to $180.00 and gave the stock an equal weight rating in a research report on Thursday, February 29th. Finally, StockNews.com raised UniFirst from a hold rating to a buy rating in a research report on Tuesday, May 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $186.00.

UniFirst Stock Performance

Shares of UNF opened at $171.53 on Thursday. UniFirst has a 52 week low of $149.58 and a 52 week high of $187.22. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 25.04 and a beta of 0.85. The stock has a fifty day moving average of $160.84 and a 200-day moving average of $166.98.

UniFirst Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.32 dividend on an annualized basis and a yield of 0.77%. UniFirst’s payout ratio is currently 19.27%.

Insiders Place Their Bets

In other UniFirst news, major shareholder Cecelia Levenstein sold 5,500 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $155.76, for a total transaction of $856,680.00. Following the completion of the sale, the insider now directly owns 68,058 shares in the company, valued at approximately $10,600,714.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, major shareholder Cecelia Levenstein sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $155.76, for a total value of $856,680.00. Following the completion of the sale, the insider now directly owns 68,058 shares in the company, valued at approximately $10,600,714.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Michael A. Croatti sold 1,800 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $169.00, for a total value of $304,200.00. Following the completion of the sale, the vice president now owns 5,747 shares of the company’s stock, valued at $971,243. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,033 shares of company stock worth $4,398,882. Company insiders own 0.74% of the company’s stock.

Hedge Funds Weigh In On UniFirst

Hedge funds have recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC boosted its stake in UniFirst by 78.1% during the 4th quarter. Eagle Bay Advisors LLC now owns 171 shares of the textile maker’s stock valued at $31,000 after purchasing an additional 75 shares during the last quarter. Covestor Ltd boosted its stake in UniFirst by 69.7% during the 1st quarter. Covestor Ltd now owns 414 shares of the textile maker’s stock valued at $72,000 after purchasing an additional 170 shares during the last quarter. Principal Securities Inc. acquired a new position in UniFirst during the 4th quarter valued at about $80,000. Quest Partners LLC acquired a new position in UniFirst during the 4th quarter valued at about $82,000. Finally, Orion Capital Management LLC acquired a new position in UniFirst during the 3rd quarter valued at about $99,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

About UniFirst

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.