UniFirst (NYSE:UNF) Downgraded by ValuEngine

UniFirst (NYSE:UNF) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. increased their price target on UniFirst from $155.00 to $183.00 and gave the stock a “neutral” rating in a research report on Thursday, June 27th. Zacks Investment Research downgraded UniFirst from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 29th.

Shares of UniFirst stock traded up $1.19 on Wednesday, hitting $190.34. 121,408 shares of the company traded hands, compared to its average volume of 120,617. The company has a market cap of $3.63 billion, a PE ratio of 25.55 and a beta of 0.73. The stock’s 50 day moving average price is $196.09 and its 200-day moving average price is $169.80. UniFirst has a 52 week low of $132.38 and a 52 week high of $205.22.

UniFirst (NYSE:UNF) last released its quarterly earnings data on Wednesday, June 26th. The textile maker reported $2.46 EPS for the quarter, topping the consensus estimate of $1.70 by $0.76. The company had revenue of $453.72 million for the quarter, compared to the consensus estimate of $441.70 million. UniFirst had a return on equity of 9.67% and a net margin of 9.21%. UniFirst’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the business posted $1.85 EPS. On average, analysts forecast that UniFirst will post 7.66 EPS for the current fiscal year.

In other news, major shareholder Cecelia Levenstein sold 11,592 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $196.66, for a total transaction of $2,279,682.72. Following the transaction, the insider now directly owns 100,650 shares in the company, valued at $19,793,829. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 29,500 shares of company stock valued at $5,846,211 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. NumerixS Investment Technologies Inc purchased a new stake in UniFirst during the second quarter worth $38,000. SRS Capital Advisors Inc. purchased a new position in shares of UniFirst in the 2nd quarter valued at $39,000. Cutler Group LP bought a new position in shares of UniFirst in the 2nd quarter worth $56,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of UniFirst in the 2nd quarter worth $57,000. Finally, Shine Investment Advisory Services Inc. purchased a new stake in shares of UniFirst during the 2nd quarter worth $68,000. 77.19% 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. Rental and Cleaning, 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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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