UniFirst Corp. (UNF) Sees Strong Trading Volume
UniFirst Corp. (NYSE:UNF) shares saw an uptick in trading volume on Thursday . 117,511 shares were traded during trading, an increase of 14% from the previous session’s volume of 103,260 shares.The stock last traded at $126.34 and had previously closed at $125.40.
Several brokerages recently issued reports on UNF. Zacks Investment Research cut UniFirst Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, April 20th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of UniFirst Corp. in a report on Thursday, June 30th. Finally, Robert W. Baird cut UniFirst Corp. from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $125.00 to $121.00 in a report on Friday, July 1st.
The company has a market capitalization of $2.55 billion and a P/E ratio of 21.51. The firm has a 50-day moving average price of $117.16 and a 200-day moving average price of $111.31.
UniFirst Corp. (NYSE:UNF) last announced its quarterly earnings results on Wednesday, June 29th. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.14. The company had revenue of $367 million for the quarter, compared to analyst estimates of $366.38 million. During the same quarter in the previous year, the company posted $1.61 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts anticipate that UniFirst Corp. will post $5.67 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be issued a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Wednesday, September 7th.
In related news, CFO Steven S. Sintros sold 1,059 shares of the stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $111.00, for a total value of $117,549.00. Following the completion of the transaction, the chief financial officer now directly owns 2,667 shares of the company’s stock, valued at approximately $296,037. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David A. Difillippo sold 1,267 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $115.48, for a total value of $146,313.16. Following the completion of the transaction, the vice president now directly owns 3,512 shares of the company’s stock, valued at $405,565.76. The disclosure for this sale can be found here.
A number of institutional investors have modified their holdings of the company. State of Wisconsin Investment Board raised its position in shares of UniFirst Corp. by 3.1% in the fourth quarter. State of Wisconsin Investment Board now owns 19,176 shares of the company’s stock worth $1,998,000 after buying an additional 573 shares during the period. Wells Fargo & Company MN raised its position in shares of UniFirst Corp. by 31.4% in the fourth quarter. Wells Fargo & Company MN now owns 89,451 shares of the company’s stock worth $9,321,000 after buying an additional 21,367 shares during the period. Marshall Wace LLP raised its position in shares of UniFirst Corp. by 20.1% in the fourth quarter. Marshall Wace LLP now owns 22,208 shares of the company’s stock worth $2,314,000 after buying an additional 3,724 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of UniFirst Corp. by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 743,470 shares of the company’s stock worth $77,471,000 after buying an additional 34,328 shares during the period.
UniFirst Corporation (UniFirst) is a provider of workplace uniforms and protective work wear clothing in the United States. The Company designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, aprons and specialized protective wear, such as flame resistant and high visibility garments.
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