Traders Buy High Volume of Call Options on UniFirst (NYSE:UNF)

UniFirst Corporation (NYSE:UNF) was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 6,752 call options on the stock. This is an increase of 2,836% compared to the typical volume of 230 call options.

Wall Street Analyst Weigh In

UNF has been the subject of a number of research analyst reports. UBS Group set a $262.00 price objective on UniFirst in a report on Monday, July 6th. Zacks Research raised shares of UniFirst from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 22nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of UniFirst in a report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, UniFirst currently has an average rating of “Moderate Buy” and an average target price of $246.67.

Institutional Trading of UniFirst

A number of hedge funds have recently modified their holdings of UNF. State Street Corp lifted its holdings in shares of UniFirst by 2.9% during the second quarter. State Street Corp now owns 584,085 shares of the textile maker’s stock worth $154,467,000 after buying an additional 16,208 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of UniFirst by 31.9% during the 1st quarter. California State Teachers Retirement System now owns 18,267 shares of the textile maker’s stock worth $4,596,000 after purchasing an additional 4,418 shares during the period. BlackRock Inc. acquired a new position in shares of UniFirst during the second quarter valued at about $580,008,000. TimesSquare Capital Management LLC bought a new stake in shares of UniFirst in the second quarter valued at about $17,165,000. Finally, Gamco Investors INC. ET AL bought a new stake in shares of UniFirst in the first quarter valued at about $868,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

UniFirst Trading Up 0.6%

Shares of NYSE:UNF traded up $1.51 on Wednesday, hitting $251.91. The company’s stock had a trading volume of 62,052 shares, compared to its average volume of 266,047. The stock’s 50-day moving average is $268.91 and its two-hundred day moving average is $259.34. UniFirst has a 12 month low of $147.66 and a 12 month high of $306.67.

UniFirst (NYSE:UNF) last posted its quarterly earnings data on Wednesday, October 21st. The textile maker reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.14). The firm had revenue of $645.01 million during the quarter, compared to the consensus estimate of $634.40 million. During the same quarter in the previous year, the company earned $2.23 earnings per share. The business’s quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts predict that UniFirst will post 8.52 earnings per share for the current year.

About UniFirst

UniFirst Corporation (NYSE: UNF) provides workplace uniforms, workwear rental, and textile services to businesses and organizations. Its offerings include uniform rental and laundering, work garments, protective apparel, floor mats, restroom supplies, first-aid products, and other workplace service programs.

The company also provides specialized apparel and services for industries with particular cleanliness or safety requirements, including healthcare, manufacturing, food processing, and cleanroom environments.