UniFirst’s (UNF) “Underweight” Rating Reiterated at Barclays

Barclays reissued their underweight rating on shares of UniFirst (NYSE:UNF) in a research report released on Friday morning, MarketBeat Ratings reports. The brokerage currently has a $152.00 target price on the textile maker’s stock, down from their prior target price of $180.00.

A number of other equities analysts have also commented on the company. UBS Group raised their price objective on UniFirst from $194.00 to $196.00 and gave the stock a “neutral” rating in a research note on Thursday. Robert W. Baird decreased their price target on UniFirst from $218.00 to $197.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, StockNews.com downgraded UniFirst from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, UniFirst presently has a consensus rating of “Hold” and an average target price of $180.00.

UniFirst Stock Performance

Shares of UniFirst stock opened at $163.40 on Friday. The firm has a 50-day moving average of $204.87 and a 200-day moving average of $198.25. UniFirst has a 52-week low of $149.58 and a 52-week high of $243.70. The stock has a market cap of $3.03 billion, a PE ratio of 20.89 and a beta of 0.88.

UniFirst (NYSE:UNF) last posted its quarterly earnings data on Wednesday, April 2nd. The textile maker reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.03). UniFirst had a net margin of 6.00% and a return on equity of 7.40%. The business had revenue of $602.20 million during the quarter, compared to the consensus estimate of $602.81 million. During the same period in the prior year, the firm earned $1.09 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts predict that UniFirst will post 7.71 earnings per share for the current fiscal year.

UniFirst Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a $0.35 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.40 annualized dividend and a dividend yield of 0.86%. UniFirst’s payout ratio is 17.41%.

Insider Transactions at UniFirst

In related news, VP David Martin Katz sold 1,299 shares of UniFirst stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $210.95, for a total transaction of $274,024.05. Following the sale, the vice president now directly owns 6,455 shares of the company’s stock, valued at approximately $1,361,682.25. The trade was a 16.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.86% of the stock is owned by insiders.

Hedge Funds Weigh In On UniFirst

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Hawaiian Bank increased its holdings in shares of UniFirst by 24.3% during the first quarter. First Hawaiian Bank now owns 2,328 shares of the textile maker’s stock worth $405,000 after buying an additional 455 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in UniFirst by 8.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,827 shares of the textile maker’s stock worth $313,000 after purchasing an additional 150 shares in the last quarter. Pullen Investment Management LLC increased its holdings in UniFirst by 45.7% in the 4th quarter. Pullen Investment Management LLC now owns 4,655 shares of the textile maker’s stock worth $796,000 after purchasing an additional 1,460 shares in the last quarter. Orion Capital Management LLC bought a new position in UniFirst in the fourth quarter valued at about $104,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of UniFirst by 22.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,588 shares of the textile maker’s stock valued at $5,747,000 after purchasing an additional 6,078 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

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.