UniFirst (NYSE:UNF) Upgraded at StockNews.com

StockNews.com upgraded shares of UniFirst (NYSE:UNF) from a hold rating to a buy rating in a research note released on Sunday.

A number of other brokerages also recently commented on UNF. Barclays lifted their price objective on UniFirst from $160.00 to $180.00 and gave the stock an equal weight rating in a research report on Thursday, February 29th. UBS Group upped their price objective on shares of UniFirst from $184.00 to $186.00 and gave the company a neutral rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $177.75.

UniFirst Stock Up 1.0 %

Shares of NYSE UNF opened at $163.05 on Friday. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 26.69 and a beta of 0.83. The company’s 50-day simple moving average is $165.82 and its 200-day simple moving average is $169.71. UniFirst has a 52-week low of $150.50 and a 52-week high of $187.22.

UniFirst (NYSE:UNF) last posted its quarterly earnings data on Wednesday, March 27th. The textile maker reported $1.22 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.19). The firm had revenue of $590.71 million for the quarter, compared to analysts’ expectations of $587.56 million. UniFirst had a return on equity of 6.19% and a net margin of 4.92%. Equities research analysts anticipate that UniFirst will post 7.48 EPS for the current fiscal year.

UniFirst Announces Dividend

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

Insiders Place Their Bets

In related news, EVP William Masters Ross sold 2,282 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $175.27, for a total value of $399,966.14. Following the sale, the executive vice president now owns 4,034 shares in the company, valued at approximately $707,039.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.74% of the stock is owned by insiders.

Hedge Funds Weigh In On UniFirst

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. increased its position in shares of UniFirst by 10.0% during the first quarter. Sei Investments Co. now owns 17,912 shares of the textile maker’s stock worth $3,106,000 after acquiring an additional 1,634 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in UniFirst in the 1st quarter valued at about $693,000. SG Americas Securities LLC increased its stake in shares of UniFirst by 326.6% during the first quarter. SG Americas Securities LLC now owns 3,498 shares of the textile maker’s stock worth $607,000 after buying an additional 2,678 shares during the period. Quantbot Technologies LP acquired a new stake in UniFirst in the first quarter valued at approximately $479,000. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in UniFirst by 4.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,211 shares of the textile maker’s stock worth $383,000 after acquiring an additional 102 shares during the last quarter. Hedge funds and other institutional investors 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.