UBS Group Lowers UniFirst (NYSE:UNF) Price Target to $194.00

UniFirst (NYSE:UNF) had its price objective dropped by investment analysts at UBS Group from $235.00 to $194.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the textile maker’s stock. UBS Group’s price objective would suggest a potential upside of 14.04% from the stock’s current price.

Separately, StockNews.com cut UniFirst from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th.

UniFirst Trading Up 0.4 %

NYSE UNF opened at $170.11 on Tuesday. UniFirst has a 1 year low of $149.58 and a 1 year high of $243.70. The company has a market cap of $3.16 billion, a PE ratio of 21.75 and a beta of 0.89. The stock’s 50-day moving average price is $212.10 and its two-hundred day moving average price is $198.77.

UniFirst (NYSE:UNF) last released its quarterly earnings results on Wednesday, January 8th. The textile maker reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.09. UniFirst had a net margin of 6.00% and a return on equity of 7.40%. The business had revenue of $604.91 million for the quarter, compared to analyst estimates of $606.60 million. During the same quarter in the previous year, the business earned $2.26 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. Research analysts forecast that UniFirst will post 7.71 EPS for the current fiscal year.

Insider Activity at UniFirst

In related news, VP David Martin Katz sold 1,299 shares of UniFirst stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $210.95, for a total transaction of $274,024.05. Following the completion of the sale, the vice president now owns 6,455 shares of the company’s stock, valued at approximately $1,361,682.25. This trade represents a 16.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.86% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Independence Bank of Kentucky bought a new stake in shares of UniFirst in the 4th quarter valued at approximately $34,000. Blue Trust Inc. lifted its stake in UniFirst by 1,105.3% in the fourth quarter. Blue Trust Inc. now owns 229 shares of the textile maker’s stock valued at $39,000 after acquiring an additional 210 shares during the last quarter. Smartleaf Asset Management LLC grew its position in UniFirst by 252.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker’s stock worth $59,000 after acquiring an additional 247 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of UniFirst by 187.2% during the 4th quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker’s stock worth $61,000 after purchasing an additional 234 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its stake in shares of UniFirst by 291.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 466 shares of the textile maker’s stock worth $93,000 after purchasing an additional 347 shares during the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

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.