UniFirst Corp. (UNF) Releases Earnings Results, Beats Estimates By $0.04 EPS
UniFirst Corp. (NYSE:UNF) issued its quarterly earnings results on Wednesday. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.04. The company had revenue of $363.80 million for the quarter, compared to analyst estimates of $362.62 million. UniFirst Corp. had a net margin of 8.09% and a return on equity of 9.19%. UniFirst Corp.’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.43 earnings per share.
UniFirst Corp. (NYSE:UNF) opened at 130.80 on Wednesday. UniFirst Corp. has a 52 week low of $96.90 and a 52 week high of $137.01. The company has a market cap of $2.65 billion, a P/E ratio of 22.33 and a beta of 0.79. The company’s 50-day moving average is $131.03 and its 200-day moving average is $118.72.
A number of equities analysts have recently commented on UNF shares. JPMorgan Chase & Co. reiterated a “hold” rating on shares of UniFirst Corp. in a report on Thursday, June 30th. Zacks Investment Research lowered shares of UniFirst Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 1st. Finally, Robert W. Baird lowered shares of UniFirst Corp. from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $125.00 to $121.00 in a report on Friday, July 1st.
In related news, VP David A. Difillippo sold 1,267 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $115.48, for a total transaction of $146,313.16. Following the sale, the vice president now owns 3,512 shares of the company’s stock, valued at approximately $405,565.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of UNF. ProShare Advisors LLC raised its stake in UniFirst Corp. by 1.0% in the second quarter. ProShare Advisors LLC now owns 2,191 shares of the company’s stock worth $254,000 after buying an additional 22 shares during the period. Profund Advisors LLC raised its position in shares of UniFirst Corp. by 5.9% in the second quarter. Profund Advisors LLC now owns 4,728 shares of the company’s stock worth $547,000 after buying an additional 264 shares during the last quarter. Stevens Capital Management LP raised its position in shares of UniFirst Corp. by 33.6% in the second quarter. Stevens Capital Management LP now owns 8,127 shares of the company’s stock worth $940,000 after buying an additional 2,043 shares during the last quarter. Pacad Investment Ltd. bought a new position in shares of UniFirst Corp. during the second quarter worth approximately $231,000. Finally, FIL Ltd bought a new position in shares of UniFirst Corp. during the second quarter worth approximately $2,600,000. 73.87% of the stock is currently owned by institutional investors and hedge funds.
UniFirst Corp. Company Profile
UniFirst Corporation (UniFirst) is a provider of workplace uniforms and protective work wear clothing in the United States. 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, aprons and specialized protective wear, such as flame resistant and high visibility garments.
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