UniFirst (NYSE:UNF) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of UniFirst (NYSE:UNF) from a hold rating to a buy rating in a report issued on Friday.

Several other research firms have also recently issued reports on UNF. Robert W. Baird reaffirmed a neutral rating and set a $185.00 price objective on shares of UniFirst in a research report on Thursday, January 4th. Barclays upped their price objective on UniFirst from $160.00 to $180.00 and gave the stock an equal weight rating in a research report on Thursday, February 29th. Finally, UBS Group upped their target price on UniFirst from $184.00 to $186.00 and gave the company a neutral rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, UniFirst presently has an average rating of Hold and an average price target of $177.75.

UniFirst Stock Performance

NYSE:UNF opened at $160.14 on Friday. The stock has a 50-day simple moving average of $167.34 and a 200-day simple moving average of $169.72. The stock has a market cap of $2.99 billion, a P/E ratio of 26.21 and a beta of 0.82. UniFirst has a 1 year low of $150.50 and a 1 year high of $187.22.

UniFirst (NYSE:UNF) last released its quarterly earnings data on Wednesday, March 27th. The textile maker reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by ($0.19). The business had revenue of $590.71 million for the quarter, compared to analyst estimates of $587.56 million. UniFirst had a return on equity of 6.19% and a net margin of 4.92%. On average, equities research analysts predict that UniFirst will post 7.48 EPS for the current year.

UniFirst Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.33 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.82%. UniFirst’s dividend payout ratio (DPR) is presently 21.60%.

Insider Activity at UniFirst

In other UniFirst news, EVP William Masters Ross sold 2,282 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $175.27, for a total transaction of $399,966.14. Following the completion of the sale, the executive vice president now directly owns 4,034 shares of the company’s stock, valued at approximately $707,039.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.74% of the company’s stock.

Institutional Trading of UniFirst

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of UniFirst by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 1,690,940 shares of the textile maker’s stock worth $309,290,000 after buying an additional 12,138 shares in the last quarter. River Road Asset Management LLC raised its stake in shares of UniFirst by 0.5% during the 4th quarter. River Road Asset Management LLC now owns 848,299 shares of the textile maker’s stock worth $155,162,000 after buying an additional 4,078 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of UniFirst by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 678,973 shares of the textile maker’s stock worth $124,193,000 after buying an additional 21,115 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of UniFirst by 5.1% during the 4th quarter. Victory Capital Management Inc. now owns 446,335 shares of the textile maker’s stock worth $81,639,000 after buying an additional 21,685 shares in the last quarter. Finally, Copeland Capital Management LLC raised its stake in shares of UniFirst by 0.5% during the 3rd quarter. Copeland Capital Management LLC now owns 297,308 shares of the textile maker’s stock worth $48,464,000 after buying an additional 1,455 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

UniFirst Company Profile

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.