UniFirst (NYSE:UNF) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of UniFirst (NYSE:UNF) from a hold rating to a buy rating in a report published on Friday.

Several other research analysts have also issued reports on UNF. UBS Group raised their target price on UniFirst from $184.00 to $186.00 and gave the stock a neutral rating in a research report on Thursday, March 28th. Robert W. Baird reaffirmed a neutral rating and set a $185.00 target price on shares of UniFirst in a research report on Thursday, January 4th. Finally, Barclays raised their target price on UniFirst from $160.00 to $180.00 and gave the stock an equal weight rating in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $177.75.

UniFirst Stock Performance

Shares of UNF opened at $158.51 on Friday. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 25.94 and a beta of 0.82. UniFirst has a 52 week low of $150.50 and a 52 week high of $187.22. The stock has a fifty day moving average of $167.70 and a 200-day moving average of $169.57.

UniFirst (NYSE:UNF) last announced its earnings results on Wednesday, March 27th. The textile maker reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by ($0.19). The company had revenue of $590.71 million for the quarter, compared to the consensus estimate of $587.56 million. UniFirst had a return on equity of 6.19% and a net margin of 4.92%. As a group, equities analysts forecast that UniFirst will post 7.48 EPS for the current year.

UniFirst Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, June 7th. This represents a $1.32 dividend on an annualized basis and a yield of 0.83%. UniFirst’s payout ratio is currently 21.60%.

Insiders Place Their Bets

In other UniFirst news, EVP William Masters Ross sold 2,282 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $175.27, for a total transaction of $399,966.14. Following the completion of 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.74% of the company’s stock.

Institutional Trading of UniFirst

Several large investors have recently made changes to their positions in UNF. Eagle Bay Advisors LLC grew its stake in shares of UniFirst by 78.1% in the 4th quarter. Eagle Bay Advisors LLC now owns 171 shares of the textile maker’s stock valued at $31,000 after buying an additional 75 shares during the period. Covestor Ltd grew its stake in shares of 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 period. Tower Research Capital LLC TRC grew its stake in shares of UniFirst by 28.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 393 shares of the textile maker’s stock valued at $64,000 after buying an additional 88 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of UniFirst in the 1st quarter valued at about $69,000. Finally, Principal Securities Inc. acquired a new stake in shares of UniFirst in the 4th quarter valued at about $80,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

About UniFirst

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.