UniFirst (NYSE:UNF) Reaches New 52-Week High – What’s Next?

Shares of UniFirst Corporation (NYSE:UNF) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $286.91 and last traded at $284.4760, with a volume of 31522 shares. The stock had previously closed at $275.26.

Wall Street Analysts Forecast Growth

Several research firms recently commented on UNF. UBS Group set a $262.00 target price on UniFirst in a research note on Monday, July 6th. Weiss Ratings cut UniFirst from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $246.67.

UniFirst Trading Up 3.9%

The stock’s 50-day moving average is $266.48 and its 200-day moving average is $247.04. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 46.10 and a beta of 0.63.

UniFirst (NYSE:UNF) last released its quarterly earnings data on Wednesday, July 1st. The textile maker reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.84). UniFirst had a return on equity of 6.44% and a net margin of 4.65%.The business had revenue of $634.40 million for the quarter, compared to analysts’ expectations of $627.66 million. During the same quarter in the prior year, the firm earned $2.13 earnings per share. UniFirst’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities analysts predict that UniFirst Corporation will post 7.49 earnings per share for the current fiscal year.

UniFirst Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a $0.365 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 0.5%. UniFirst’s dividend payout ratio (DPR) is 23.03%.

Institutional Trading of UniFirst

Several large investors have recently bought and sold shares of UNF. River Road Asset Management LLC lifted its position in shares of UniFirst by 9.6% during the fourth quarter. River Road Asset Management LLC now owns 865,014 shares of the textile maker’s stock worth $166,861,000 after purchasing an additional 75,524 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in UniFirst by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 787,418 shares of the textile maker’s stock worth $151,895,000 after buying an additional 14,751 shares during the period. Engine Capital Management LP boosted its position in UniFirst by 640.5% in the 4th quarter. Engine Capital Management LP now owns 459,871 shares of the textile maker’s stock valued at $88,709,000 after buying an additional 397,772 shares during the last quarter. First Trust Advisors LP grew its stake in shares of UniFirst by 46.8% during the fourth quarter. First Trust Advisors LP now owns 451,194 shares of the textile maker’s stock valued at $87,035,000 after acquiring an additional 143,853 shares in the last quarter. Finally, Brandes Investment Partners LP increased its position in shares of UniFirst by 164.2% during the fourth quarter. Brandes Investment Partners LP now owns 367,786 shares of the textile maker’s stock worth $70,946,000 after acquiring an additional 228,586 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

UniFirst Company Profile

UniFirst Corporation (NYSE: UNF) is a leading provider of customized uniform rental and facility service programs in North America and Europe. The company specializes in the rental, laundering and maintenance of workwear, corporate apparel and protective garments for a broad range of industries, including manufacturing, automotive, hospitality, healthcare and food processing. UniFirst also offers a suite of facility service products such as entrance mats, restroom supplies, wipers, mops and hygienic services designed to help customers maintain clean and safe environments.

In addition to its core uniform rental business, UniFirst has expanded its product portfolio to include safety and first-responder gear, flame-resistant clothing, high-visibility apparel and personal protective equipment (PPE).