UniFirst (NYSE:UNF) Shares Gap Down to $167.15

UniFirst Co. (NYSE:UNF)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $167.15, but opened at $160.00. UniFirst shares last traded at $171.85, with a volume of 24,452 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on UNF. Robert W. Baird reiterated a “neutral” rating and set a $185.00 price target on shares of UniFirst in a report on Thursday, January 4th. UBS Group increased their price target on UniFirst from $184.00 to $186.00 and gave the stock a “neutral” rating in a research note on Thursday. Barclays lifted their price objective on UniFirst from $160.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. Finally, StockNews.com downgraded UniFirst from a “buy” rating to a “hold” rating in a research report on Saturday, March 23rd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $177.75.

UniFirst Price Performance

The stock has a 50-day simple moving average of $170.19 and a 200-day simple moving average of $170.15. The stock has a market cap of $3.24 billion, a PE ratio of 28.38 and a beta of 0.82.

UniFirst (NYSE:UNF) last announced its quarterly earnings results on Wednesday, January 3rd. The textile maker reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.20. UniFirst had a net margin of 4.92% and a return on equity of 6.19%. The firm had revenue of $593.50 million during the quarter, compared to analysts’ expectations of $589.64 million. During the same period in the prior year, the company earned $2.21 EPS. The firm’s revenue was up 9.5% on a year-over-year basis. As a group, equities research analysts anticipate that UniFirst Co. will post 6.98 EPS for the current year.

UniFirst Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, March 7th. UniFirst’s dividend payout ratio (DPR) is presently 21.60%.

Insider Buying and Selling at UniFirst

In other news, EVP William Masters Ross sold 2,282 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $175.27, for a total transaction of $399,966.14. Following the transaction, the executive vice president now directly owns 4,034 shares of the company’s stock, valued at $707,039.18. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.74% of the stock is owned by corporate insiders.

Institutional Trading of UniFirst

Large investors have recently modified their holdings of the business. Metropolitan Life Insurance Co NY increased its holdings in UniFirst by 5.9% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 920 shares of the textile maker’s stock worth $178,000 after purchasing an additional 51 shares during the last quarter. SageView Advisory Group LLC increased its stake in shares of UniFirst by 4.8% in the third quarter. SageView Advisory Group LLC now owns 1,457 shares of the textile maker’s stock worth $238,000 after buying an additional 67 shares during the last quarter. MetLife Investment Management LLC grew its stake in UniFirst by 0.9% in the second quarter. MetLife Investment Management LLC now owns 7,898 shares of the textile maker’s stock worth $1,224,000 after purchasing an additional 68 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of UniFirst by 2.3% in the 3rd quarter. American Century Companies Inc. now owns 3,269 shares of the textile maker’s stock valued at $533,000 after acquiring an additional 74 shares during the last quarter. Finally, Eagle Bay Advisors LLC lifted its position in shares of UniFirst by 78.1% in the 4th quarter. Eagle Bay Advisors LLC now owns 171 shares of the textile maker’s stock worth $31,000 after buying an additional 75 shares during the last quarter. 78.17% of the stock is currently 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.