UniFirst (NYSE:UNF) Price Target Raised to $235.00

UniFirst (NYSE:UNF) had its price target increased by UBS Group from $190.00 to $235.00 in a report published on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the textile maker’s stock.

Several other equities analysts have also recently commented on UNF. Robert W. Baird boosted their price target on shares of UniFirst from $199.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. StockNews.com downgraded UniFirst from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. 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 currently has an average rating of “Hold” and a consensus target price of $197.50.

UniFirst Price Performance

Shares of UNF stock opened at $220.15 on Thursday. The business has a 50 day simple moving average of $191.59 and a 200 day simple moving average of $187.38. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 28.33 and a beta of 0.87. UniFirst has a 12-month low of $149.58 and a 12-month high of $243.70.

UniFirst (NYSE:UNF) last issued its earnings results on Wednesday, January 8th. The textile maker reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.09. UniFirst had a return on equity of 7.47% and a net margin of 5.99%. The business had revenue of $604.91 million for the quarter, compared to analysts’ expectations of $606.60 million. During the same period in the previous year, the firm posted $2.26 EPS. The company’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities analysts anticipate that UniFirst will post 7.68 EPS for the current fiscal year.

UniFirst Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, December 6th. This is a boost from UniFirst’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.64%. UniFirst’s dividend payout ratio is presently 17.90%.

Insider Buying and Selling at UniFirst

In other UniFirst news, major shareholder The Ronald D. Croatti Trust – 1 sold 9,500 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $190.97, for a total value of $1,814,215.00. Following the transaction, the insider now directly owns 17,390 shares in the company, valued at approximately $3,320,968.30. This trade represents a 35.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Martin Katz sold 587 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.08, for a total value of $113,337.96. Following the completion of the transaction, the vice president now owns 5,625 shares in the company, valued at approximately $1,086,075. This represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,294 shares of company stock worth $2,546,632 over the last three months. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of UNF. Cerity Partners LLC bought a new position in shares of UniFirst during the third quarter worth $10,270,000. Copeland Capital Management LLC grew its stake in UniFirst by 12.4% in the third quarter. Copeland Capital Management LLC now owns 332,187 shares of the textile maker’s stock valued at $65,989,000 after acquiring an additional 36,651 shares during the period. American Century Companies Inc. increased its holdings in shares of UniFirst by 25.9% in the second quarter. American Century Companies Inc. now owns 173,315 shares of the textile maker’s stock worth $29,729,000 after acquiring an additional 35,604 shares in the last quarter. Barclays PLC lifted its holdings in shares of UniFirst by 464.6% during the 3rd quarter. Barclays PLC now owns 41,220 shares of the textile maker’s stock valued at $8,188,000 after purchasing an additional 33,919 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of UniFirst by 5.2% during the third quarter. Victory Capital Management Inc. now owns 654,495 shares of the textile maker’s stock worth $130,015,000 after buying an additional 32,447 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

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.