UniFirst Corp (NYSE:UNF) Receives $185.50 Average Price Target from Brokerages

UniFirst Corp (NYSE:UNF) has earned a consensus rating of “Hold” from the six brokerages that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $185.50.

Several brokerages have issued reports on UNF. Zacks Investment Research lowered UniFirst from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Robert W. Baird boosted their target price on UniFirst from $187.00 to $206.00 and gave the company an “outperform” rating in a research note on Thursday, July 2nd. Finally, TheStreet upgraded UniFirst from a “c+” rating to a “b-” rating in a research note on Tuesday, June 9th.

In other UniFirst news, Director Phillip L. Cohen sold 1,209 shares of the company’s stock in a transaction that occurred on Wednesday, July 15th. The stock was sold at an average price of $181.73, for a total transaction of $219,711.57. Following the completion of the transaction, the director now owns 14,535 shares of the company’s stock, valued at approximately $2,641,445.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Large investors have recently made changes to their positions in the company. First Mercantile Trust Co. bought a new position in shares of UniFirst in the 2nd quarter worth approximately $34,000. Private Advisor Group LLC bought a new position in shares of UniFirst in the 2nd quarter worth approximately $55,000. Private Capital Group LLC raised its position in shares of UniFirst by 25.0% in the 1st quarter. Private Capital Group LLC now owns 320 shares of the textile maker’s stock worth $48,000 after acquiring an additional 64 shares in the last quarter. Point72 Hong Kong Ltd increased its position in UniFirst by 806.8% during the 2nd quarter. Point72 Hong Kong Ltd now owns 399 shares of the textile maker’s stock valued at $71,000 after buying an additional 355 shares in the last quarter. Finally, Marshall Wace North America L.P. increased its position in UniFirst by 17.4% during the 1st quarter. Marshall Wace North America L.P. now owns 473 shares of the textile maker’s stock valued at $73,000 after buying an additional 70 shares in the last quarter. 78.77% of the stock is owned by hedge funds and other institutional investors.

Shares of UNF traded up $0.94 on Tuesday, hitting $186.98. The company’s stock had a trading volume of 249,375 shares, compared to its average volume of 87,993. UniFirst has a fifty-two week low of $121.89 and a fifty-two week high of $217.90. The firm’s fifty day moving average price is $193.27 and its 200-day moving average price is $174.02. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 23.79 and a beta of 0.89.

UniFirst (NYSE:UNF) last announced its quarterly earnings data on Wednesday, July 1st. The textile maker reported $1.12 EPS for the quarter, missing the Zacks’ consensus estimate of $1.25 by ($0.13). The firm had revenue of $445.52 million during the quarter, compared to analyst estimates of $378.28 million. UniFirst had a net margin of 7.70% and a return on equity of 8.49%. Sell-side analysts expect that UniFirst will post 7.06 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Monday, September 7th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.53%. The ex-dividend date is Thursday, September 3rd. UniFirst’s dividend payout ratio is presently 11.74%.

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.

Recommended Story: Momentum Indicators

Receive News & Ratings for UniFirst Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UniFirst and related companies with MarketBeat.com's FREE daily email newsletter.