TheStreet Lowers UniFirst (NYSE:UNF) to C+

TheStreet cut shares of UniFirst (NYSE:UNFGet Rating) from a b- rating to a c+ rating in a research note released on Thursday morning, TheStreetRatingsTable reports.

A number of other analysts have also weighed in on the company. Robert W. Baird dropped their price objective on UniFirst from $213.00 to $195.00 in a research note on Wednesday, May 18th. StockNews.com downgraded UniFirst from a buy rating to a hold rating in a report on Saturday, May 21st.

UniFirst Stock Down 0.1 %

Shares of UniFirst stock opened at $170.69 on Thursday. The company has a market cap of $3.20 billion, a PE ratio of 28.98 and a beta of 0.95. UniFirst has a 52 week low of $154.72 and a 52 week high of $227.07. The business has a 50 day moving average price of $185.58 and a 200-day moving average price of $175.73.

UniFirst (NYSE:UNFGet Rating) last announced its quarterly earnings data on Wednesday, June 29th. The textile maker reported $1.77 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.16). UniFirst had a net margin of 5.74% and a return on equity of 6.86%. The firm had revenue of $511.50 million for the quarter, compared to the consensus estimate of $500.61 million. During the same period last year, the company posted $2.21 earnings per share. UniFirst’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, research analysts anticipate that UniFirst will post 6.76 EPS for the current year.

UniFirst Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 7th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.70%. UniFirst’s payout ratio is currently 20.37%.

Insiders Place Their Bets

In other news, VP David Martin Katz sold 1,265 shares of the stock in a transaction on Friday, July 29th. The shares were sold at an average price of $195.00, for a total value of $246,675.00. Following the completion of the sale, the vice president now directly owns 3,713 shares of the company’s stock, valued at $724,035. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by company insiders.

Institutional Trading of UniFirst

Hedge funds and other institutional investors have recently modified their holdings of the company. Maryland State Retirement & Pension System grew its stake in UniFirst by 0.9% during the second quarter. Maryland State Retirement & Pension System now owns 6,152 shares of the textile maker’s stock valued at $1,059,000 after acquiring an additional 54 shares in the last quarter. Private Advisor Group LLC grew its stake in UniFirst by 4.7% during the second quarter. Private Advisor Group LLC now owns 1,472 shares of the textile maker’s stock valued at $253,000 after acquiring an additional 66 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in UniFirst by 5.9% during the second quarter. Commonwealth Equity Services LLC now owns 1,202 shares of the textile maker’s stock valued at $207,000 after acquiring an additional 67 shares in the last quarter. Bragg Financial Advisors Inc grew its stake in UniFirst by 0.3% during the first quarter. Bragg Financial Advisors Inc now owns 22,497 shares of the textile maker’s stock valued at $4,146,000 after acquiring an additional 68 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in UniFirst by 2.3% during the second quarter. Exchange Traded Concepts LLC now owns 3,331 shares of the textile maker’s stock valued at $574,000 after acquiring an additional 76 shares in the last quarter. 77.84% of the stock is owned by hedge funds and other institutional investors.

UniFirst Company Profile

(Get Rating)

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.

Further Reading

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