ValuEngine downgraded shares of UniFirst (NYSE:UNF) from a buy rating to a hold rating in a research report released on Tuesday, September 4th.
Other analysts have also issued reports about the company. Zacks Investment Research raised UniFirst from a hold rating to a buy rating and set a $198.00 target price on the stock in a report on Saturday, June 30th. Barrington Research restated a hold rating on shares of UniFirst in a research report on Friday, June 29th. Finally, Robert W. Baird upped their price objective on UniFirst from $183.00 to $198.00 and gave the stock an outperform rating in a research report on Thursday, June 28th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $202.00.
UNF opened at $183.90 on Tuesday. UniFirst has a 1-year low of $142.40 and a 1-year high of $193.05. The firm has a market capitalization of $3.48 billion, a P/E ratio of 34.83, a price-to-earnings-growth ratio of 2.43 and a beta of 0.57.
UniFirst (NYSE:UNF) last released its earnings results on Wednesday, June 27th. The textile maker reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.02. The company had revenue of $427.38 million for the quarter, compared to analyst estimates of $420.45 million. UniFirst had a return on equity of 8.21% and a net margin of 7.45%. UniFirst’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.19 EPS. equities analysts expect that UniFirst will post 6.23 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be given a $0.1125 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $0.45 annualized dividend and a yield of 0.24%. UniFirst’s dividend payout ratio is presently 8.52%.
In other news, major shareholder Cecelia Levenstein sold 500 shares of the firm’s stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $188.78, for a total transaction of $94,390.00. Following the completion of the transaction, the insider now directly owns 118,808 shares in the company, valued at $22,428,574.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven S. Sintros sold 919 shares of the firm’s stock in a transaction dated Monday, June 25th. The stock was sold at an average price of $181.75, for a total value of $167,028.25. Following the transaction, the insider now owns 5,690 shares of the company’s stock, valued at $1,034,157.50. The disclosure for this sale can be found here. Insiders sold 14,028 shares of company stock valued at $2,610,220 over the last quarter. Corporate insiders own 1.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UNF. Captrust Financial Advisors grew its stake in UniFirst by 743.3% during the second quarter. Captrust Financial Advisors now owns 565 shares of the textile maker’s stock worth $100,000 after purchasing an additional 498 shares during the period. Point72 Asia Hong Kong Ltd acquired a new stake in UniFirst in the first quarter valued at approximately $118,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in UniFirst by 43.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 947 shares of the textile maker’s stock valued at $168,000 after acquiring an additional 286 shares during the period. Verition Fund Management LLC acquired a new stake in UniFirst in the first quarter valued at approximately $200,000. Finally, Zeke Capital Advisors LLC acquired a new stake in UniFirst in the second quarter valued at approximately $207,000. 77.31% of the stock is owned by institutional investors and hedge funds.
UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Canada, and Europe. It operates through US Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. The company 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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