Unifirst Corporation (UNF) Given Consensus Recommendation of “Hold” by Brokerages
Unifirst Corporation (NYSE:UNF) has been assigned a consensus broker rating score of 2.60 (Hold) from the five brokers that cover the stock, Zacks Investment Research reports. Four analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. Unifirst Corporation’s rating score has improved by 2.6% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Brokers have set a 1-year consensus price objective of $154.00 for the company and are anticipating that the company will post $0.97 EPS for the current quarter, according to Zacks. Zacks has also assigned Unifirst Corporation an industry rank of 43 out of 265 based on the ratings given to its competitors.
Several research firms recently issued reports on UNF. Robert W. Baird upgraded Unifirst Corporation from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $145.00 to $163.00 in a report on Thursday, June 29th. Zacks Investment Research cut Unifirst Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, BidaskClub cut Unifirst Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in Unifirst Corporation by 52,993.4% in the 1st quarter. BlackRock Inc. now owns 1,852,961 shares of the textile maker’s stock worth $262,102,000 after buying an additional 1,849,471 shares during the last quarter. Vanguard Group Inc. lifted its stake in Unifirst Corporation by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,404,198 shares of the textile maker’s stock worth $197,571,000 after purchasing an additional 15,155 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Unifirst Corporation by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 873,793 shares of the textile maker’s stock worth $122,943,000 after purchasing an additional 11,559 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Unifirst Corporation in the 2nd quarter worth approximately $121,138,000. Finally, Royce & Associates LP lifted its stake in Unifirst Corporation by 3.8% in the 2nd quarter. Royce & Associates LP now owns 813,720 shares of the textile maker’s stock worth $114,490,000 after purchasing an additional 29,500 shares in the last quarter. Institutional investors own 73.47% of the company’s stock.
Unifirst Corporation (UNF) traded up 1.32% during trading on Wednesday, hitting $157.30. The stock had a trading volume of 68,675 shares. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 28.98 and a beta of 0.70. Unifirst Corporation has a 52-week low of $116.67 and a 52-week high of $160.62. The firm’s 50-day moving average price is $147.79 and its 200-day moving average price is $141.55.
Unifirst Corporation (NYSE:UNF) last posted its earnings results on Wednesday, October 18th. The textile maker reported $1.44 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.20. Unifirst Corporation had a return on equity of 7.41% and a net margin of 7.12%. The firm had revenue of $403.60 million for the quarter, compared to analysts’ expectations of $392.15 million. During the same period last year, the firm earned $1.27 EPS. The company’s quarterly revenue was up 10.9% on a year-over-year basis. Analysts predict that Unifirst Corporation will post $4.93 EPS for the current fiscal year.
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About Unifirst Corporation
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.
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