UniFirst (NYSE:UNF) Lowered to “Hold” at StockNews.com

StockNews.com cut shares of UniFirst (NYSE:UNF) from a buy rating to a hold rating in a research note published on Saturday morning.

UNF has been the subject of a number of other research reports. Robert W. Baird reissued a neutral rating and set a $185.00 target price on shares of UniFirst in a research note on Thursday, January 4th. Barclays lifted their price objective on UniFirst from $160.00 to $180.00 and gave the company an equal weight rating in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $177.50.

UniFirst Stock Down 0.9 %

UNF opened at $167.15 on Friday. The firm has a market capitalization of $3.13 billion, a P/E ratio of 28.00 and a beta of 0.82. The stock has a fifty day moving average of $169.90 and a 200-day moving average of $170.11. UniFirst has a 12-month low of $150.50 and a 12-month high of $193.52.

UniFirst (NYSE:UNF) last announced its quarterly earnings data on Wednesday, January 3rd. The textile maker reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.20. The firm had revenue of $593.50 million during the quarter, compared to the consensus estimate of $589.64 million. UniFirst had a return on equity of 6.01% and a net margin of 4.90%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.21 EPS. On average, analysts expect that UniFirst will post 7.6 earnings per share for the current fiscal year.

UniFirst Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Thursday, March 7th. UniFirst’s dividend payout ratio is presently 22.11%.

Insider Activity at UniFirst

In related news, EVP William Masters Ross sold 2,282 shares of the stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.74% of the stock is owned by company insiders.

Institutional Trading of UniFirst

Several hedge funds have recently added to or reduced their stakes in the business. Eagle Bay Advisors LLC increased its holdings in 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 purchasing an additional 75 shares in the last quarter. Covestor Ltd raised its position in UniFirst by 187.4% in the 1st quarter. Covestor Ltd now owns 273 shares of the textile maker’s stock valued at $50,000 after buying an additional 178 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of UniFirst during the 1st quarter worth approximately $69,000. Tower Research Capital LLC TRC raised its holdings in shares of UniFirst by 28.9% in the third quarter. Tower Research Capital LLC TRC now owns 393 shares of the textile maker’s stock valued at $64,000 after purchasing an additional 88 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of UniFirst in the fourth quarter valued at approximately $80,000. 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.