UniFirst (NYSE:UNF) Cut to Hold at StockNews.com

StockNews.com downgraded shares of UniFirst (NYSE:UNF) from a buy rating to a hold rating in a research report released on Saturday.

UNF has been the subject of a number of other research reports. Barclays boosted their target price on UniFirst from $160.00 to $180.00 and gave the stock an equal weight rating in a research report on Thursday, February 29th. Robert W. Baird restated a neutral rating and set a $185.00 price objective on shares of UniFirst in a research report on Thursday, January 4th. Finally, UBS Group raised their target price on shares of UniFirst from $184.00 to $186.00 and gave the stock a neutral rating in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, UniFirst has a consensus rating of Hold and an average price target of $177.75.

UniFirst Stock Down 0.8 %

NYSE:UNF opened at $162.94 on Friday. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 26.67 and a beta of 0.82. The company’s 50 day moving average price is $166.70 and its 200-day moving average price is $169.83. UniFirst has a 52 week low of $150.50 and a 52 week high of $187.22.

UniFirst (NYSE:UNF) last issued its earnings results on Wednesday, March 27th. The textile maker reported $1.22 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.19). UniFirst had a net margin of 4.92% and a return on equity of 6.19%. The business had revenue of $590.71 million for the quarter, compared to analysts’ expectations of $587.56 million. As a group, sell-side analysts anticipate that UniFirst will post 7.48 earnings per share for the current year.

UniFirst Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, June 7th. UniFirst’s dividend payout ratio (DPR) is presently 21.60%.

Insider Buying and Selling

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 shares were sold at an average price of $175.27, for a total value of $399,966.14. Following the transaction, the executive vice president now directly owns 4,034 shares in the company, valued at $707,039.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.74% of the stock is currently owned by insiders.

Institutional Trading of UniFirst

A number of hedge funds and other institutional investors have recently bought and sold shares of UNF. Charles Schwab Investment Management Inc. grew its stake in shares of UniFirst by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 195,832 shares of the textile maker’s stock valued at $31,923,000 after acquiring an additional 8,734 shares during the period. Natixis Advisors L.P. increased its stake in shares of UniFirst by 2.9% in the third quarter. Natixis Advisors L.P. now owns 106,946 shares of the textile maker’s stock worth $17,433,000 after purchasing an additional 3,023 shares in the last quarter. Tudor Investment Corp Et Al raised its position in shares of UniFirst by 62.1% during the 3rd quarter. Tudor Investment Corp Et Al now owns 36,782 shares of the textile maker’s stock valued at $5,996,000 after purchasing an additional 14,087 shares during the period. Victory Capital Management Inc. lifted its stake in shares of UniFirst by 5.1% during the 3rd quarter. Victory Capital Management Inc. now owns 424,650 shares of the textile maker’s stock valued at $69,222,000 after buying an additional 20,708 shares in the last quarter. Finally, River Road Asset Management LLC boosted its holdings in UniFirst by 0.5% in 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 during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

About UniFirst

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.