UniFirst (NYSE:UNF) Downgraded by StockNews.com

UniFirst (NYSE:UNF) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Several other equities analysts also recently weighed in on UNF. Robert W. Baird raised their price target on UniFirst from $185.00 to $199.00 and gave the company a “neutral” rating in a report on Thursday, June 27th. JPMorgan Chase & Co. upped their target price on shares of UniFirst from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, June 27th. Finally, UBS Group upped their price objective on UniFirst from $186.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, UniFirst currently has an average rating of “Hold” and a consensus target price of $186.00.

UniFirst Stock Performance

Shares of UNF traded down $2.26 on Thursday, reaching $168.83. The stock had a trading volume of 41,767 shares, compared to its average volume of 123,294. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 24.65 and a beta of 0.81. The company has a 50-day simple moving average of $161.34 and a 200-day simple moving average of $166.84. UniFirst has a 12-month low of $149.58 and a 12-month high of $187.22.

Insider Activity

In related news, VP Michael A. Croatti sold 1,800 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $169.00, for a total transaction of $304,200.00. Following the completion of the sale, the vice president now owns 5,747 shares in the company, valued at $971,243. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other UniFirst news, major shareholder Cecelia Levenstein sold 5,500 shares of the business’s 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 owns 68,058 shares of the company’s stock, valued at $10,600,714.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael A. Croatti sold 1,800 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $169.00, for a total value of $304,200.00. Following the completion of the transaction, the vice president now directly owns 5,747 shares in the company, valued at approximately $971,243. The disclosure for this sale can be found here. Insiders have sold 28,033 shares of company stock valued at $4,398,882 in the last ninety days. 0.74% of the stock is currently owned by company insiders.

Institutional Trading of UniFirst

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of UniFirst by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,695,590 shares of the textile maker’s stock worth $294,066,000 after purchasing an additional 4,650 shares during the last quarter. River Road Asset Management LLC grew its holdings in UniFirst by 0.5% during the 4th quarter. River Road Asset Management LLC now owns 848,299 shares of the textile maker’s stock valued at $155,162,000 after purchasing an additional 4,078 shares during the last quarter. Dimensional Fund Advisors LP raised its position in UniFirst by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 678,973 shares of the textile maker’s stock worth $124,193,000 after purchasing an additional 21,115 shares during the period. Victory Capital Management Inc. boosted its position in shares of UniFirst by 5.1% during the fourth quarter. Victory Capital Management Inc. now owns 446,335 shares of the textile maker’s stock valued at $81,639,000 after buying an additional 21,685 shares during the period. Finally, Boston Trust Walden Corp grew its stake in shares of UniFirst by 0.7% during the fourth quarter. Boston Trust Walden Corp now owns 204,545 shares of the textile maker’s stock valued at $37,413,000 after buying an additional 1,471 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.