Zacks Investment Research cut shares of Unifirst Corporation (NYSE:UNF) from a buy rating to a hold rating in a research note published on Saturday.

According to Zacks, “UniFirst Corporation is a provider of workplace uniforms and protective clothing. They rent, manufacture and sell a wide range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, jumpsuits, lab coats, smocks and aprons, and also rent industrial wiping products, floormats and other non-garment items, to a variety of manufacturers, retailers and service companies. They serve businesses of all sizes in numerous industry categories. “

Several other equities research analysts also recently commented on UNF. Robert W. Baird raised Unifirst Corporation from a neutral rating to an outperform rating and upped their target price for the company from $145.00 to $163.00 in a report on Thursday, June 29th. BidaskClub downgraded Unifirst Corporation from a hold rating to a sell rating in a report on Wednesday, July 12th.

Shares of Unifirst Corporation (NYSE UNF) opened at 143.80 on Friday. Unifirst Corporation has a 52-week low of $116.67 and a 52-week high of $147.65. The stock has a market cap of $2.91 billion, a PE ratio of 26.50 and a beta of 0.70. The company’s 50-day moving average price is $140.44 and its 200-day moving average price is $138.68.

Unifirst Corporation (NYSE:UNF) last announced its earnings results on Wednesday, June 28th. The textile maker reported $1.36 EPS for the quarter, beating the consensus estimate of $1.34 by $0.02. Unifirst Corporation had a return on equity of 7.41% and a net margin of 7.12%. The business had revenue of $409.80 million during the quarter, compared to the consensus estimate of $396.07 million. During the same period in the prior year, the business posted $1.49 earnings per share. Unifirst Corporation’s revenue was up 11.4% compared to the same quarter last year. Analysts expect that Unifirst Corporation will post $4.93 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This story was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. & international trademark and copyright laws. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/09/13/unifirst-corporation-unf-stock-rating-lowered-by-zacks-investment-research.html.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend is Thursday, September 7th. Unifirst Corporation’s payout ratio is 2.77%.

Large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its position in Unifirst Corporation by 8.9% during the first quarter. Victory Capital Management Inc. now owns 528,690 shares of the textile maker’s stock valued at $74,783,000 after buying an additional 43,313 shares during the period. Bank of New York Mellon Corp raised its position in Unifirst Corporation by 4.8% during the first quarter. Bank of New York Mellon Corp now owns 202,884 shares of the textile maker’s stock valued at $28,698,000 after buying an additional 9,215 shares during the period. Ameriprise Financial Inc. raised its position in Unifirst Corporation by 2.0% during the first quarter. Ameriprise Financial Inc. now owns 216,070 shares of the textile maker’s stock valued at $30,563,000 after buying an additional 4,181 shares during the period. BlackRock Inc. raised its position in Unifirst Corporation by 52,993.4% during the first quarter. BlackRock Inc. now owns 1,852,961 shares of the textile maker’s stock valued at $262,102,000 after buying an additional 1,849,471 shares during the period. Finally, Reinhart Partners Inc. raised its position in Unifirst Corporation by 3.4% during the second quarter. Reinhart Partners Inc. now owns 8,728 shares of the textile maker’s stock valued at $1,228,000 after buying an additional 290 shares during the period. 73.47% of the stock is currently owned by hedge funds and other institutional investors.

Unifirst Corporation Company Profile

UniFirst Corporation 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.

Get a free copy of the Zacks research report on Unifirst Corporation (UNF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Stock Ratings for Unifirst Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Unifirst Corporation and related stocks with our FREE daily email newsletter.