StockNews.com Upgrades UniFirst (NYSE:UNF) to Buy

StockNews.com upgraded shares of UniFirst (NYSE:UNF) from a hold rating to a buy rating in a research report sent to investors on Sunday morning.

Other research analysts have also issued research reports about the stock. Barclays increased their target price on shares of UniFirst from $160.00 to $180.00 and gave the stock an equal weight rating in a research note on Thursday, February 29th. UBS Group lifted their target price on shares of UniFirst from $184.00 to $186.00 and gave the company a neutral rating in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, UniFirst has an average rating of Hold and an average target price of $177.75.

UniFirst Trading Up 0.7 %

Shares of UNF stock opened at $164.19 on Friday. UniFirst has a twelve month low of $150.50 and a twelve month high of $187.22. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 26.87 and a beta of 0.83. The company’s 50-day moving average price is $165.75 and its 200-day moving average price is $169.67.

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

UniFirst Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.33 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.32 dividend on an annualized basis and a yield of 0.80%. UniFirst’s dividend payout ratio (DPR) is presently 21.60%.

Insider Buying and Selling at UniFirst

In other UniFirst news, EVP William Masters Ross sold 2,282 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $175.27, for a total transaction of $399,966.14. Following the completion of the transaction, the executive vice president now owns 4,034 shares in the company, valued at approximately $707,039.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.74% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On UniFirst

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Eagle Bay Advisors LLC increased its stake in UniFirst by 78.1% in the fourth 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. Principal Securities Inc. acquired a new position in shares of UniFirst in the 4th quarter valued at $80,000. Quest Partners LLC purchased a new position in shares of UniFirst in the 4th quarter valued at $82,000. Orion Capital Management LLC acquired a new stake in UniFirst during the 3rd quarter worth $99,000. Finally, SRS Capital Advisors Inc. lifted its position in UniFirst by 22.1% in the third quarter. SRS Capital Advisors Inc. now owns 707 shares of the textile maker’s stock valued at $115,000 after acquiring an additional 128 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

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.