UniFirst (NYSE:UNF) Stock Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

UniFirst Corporation (NYSE:UNF) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $259.34 and traded as low as $232.05. UniFirst shares last traded at $250.8290, with a volume of 2,043,444 shares.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on UNF shares. Zacks Research upgraded UniFirst from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 22nd. UBS Group set a $262.00 price target on UniFirst in a research note on Monday, July 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of UniFirst in a report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $246.67.

UniFirst Trading Up 2.1%

The company has a market cap of $4.63 billion, a PE ratio of 42.65 and a beta of 0.60. The company has a fifty day simple moving average of $267.53 and a two-hundred day simple moving average of $259.85.

UniFirst (NYSE:UNF) last posted its quarterly earnings results on Wednesday, October 21st. The textile maker reported $1.90 EPS for the quarter, missing the consensus estimate of $2.04 by ($0.14). The firm had revenue of $645.01 million for the quarter, compared to analyst estimates of $634.40 million. UniFirst had a return on equity of 6.65% and a net margin of 4.34%. The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.23 EPS. On average, research analysts anticipate that UniFirst Corporation will post 8.52 EPS for the current fiscal year.

Hedge Funds Weigh In On UniFirst

Several hedge funds and other institutional investors have recently modified their holdings of the company. Burney Co. boosted its position in shares of UniFirst by 1.0% in the first quarter. Burney Co. now owns 4,329 shares of the textile maker’s stock worth $1,089,000 after buying an additional 44 shares during the period. Abel Hall LLC lifted its position in UniFirst by 5.5% during the 3rd quarter. Abel Hall LLC now owns 882 shares of the textile maker’s stock worth $221,000 after acquiring an additional 46 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in UniFirst by 1.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,212 shares of the textile maker’s stock worth $805,000 after acquiring an additional 54 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in UniFirst in the 2nd quarter worth approximately $31,000. Finally, WINTON GROUP Ltd boosted its holdings in UniFirst by 22.5% in the 2nd quarter. WINTON GROUP Ltd now owns 980 shares of the textile maker’s stock worth $259,000 after acquiring an additional 180 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

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.