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

StockNews.com upgraded shares of UniFirst (NYSE:UNF) from a hold rating to a buy rating in a research note issued to investors on Friday.

UNF has been the subject of a number of other reports. Barclays boosted their price target on UniFirst from $160.00 to $180.00 and gave the company an equal weight rating in a report on Thursday, February 29th. UBS Group boosted their price target on UniFirst from $184.00 to $186.00 and gave the company a neutral rating in a report on Thursday, March 28th. Finally, Robert W. Baird restated a neutral rating and set a $185.00 price objective on shares of UniFirst in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, UniFirst currently has a consensus rating of Hold and an average price target of $177.75.

UniFirst Trading Up 1.0 %

Shares of NYSE UNF opened at $160.14 on Friday. UniFirst has a twelve month low of $150.50 and a twelve month high of $187.22. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 26.21 and a beta of 0.82. The business has a 50 day simple moving average of $167.34 and a 200-day simple moving average of $169.72.

UniFirst (NYSE:UNF) last issued its quarterly earnings results on Wednesday, March 27th. The textile maker reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.19). UniFirst had a net margin of 4.92% and a return on equity of 6.19%. The firm had revenue of $590.71 million during the quarter, compared to the consensus estimate of $587.56 million. As a group, equities analysts predict that UniFirst will post 7.48 earnings per share for the current year.

UniFirst Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.33 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.32 annualized dividend and a yield of 0.82%. UniFirst’s dividend payout ratio is presently 21.60%.

Insider Activity at UniFirst

In related news, EVP William Masters Ross sold 2,282 shares of UniFirst stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $175.27, for a total value of $399,966.14. Following the sale, the executive vice president now directly owns 4,034 shares in the company, valued at approximately $707,039.18. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.74% of the stock is currently owned by insiders.

Institutional Trading of UniFirst

Several hedge funds have recently bought and sold shares of UNF. Eagle Bay Advisors LLC raised its position in shares of 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 buying an additional 75 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of UniFirst during the 4th quarter worth about $80,000. Quest Partners LLC bought a new stake in shares of UniFirst during the 4th quarter worth about $82,000. Orion Capital Management LLC bought a new stake in shares of UniFirst during the 3rd quarter worth about $99,000. Finally, SRS Capital Advisors Inc. raised its position 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 buying an additional 128 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

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.