UniFirst Corp. (UNF) Releases Earnings Results, Beats Estimates By $0.04 EPS
UniFirst Corp. (NYSE:UNF) issued its quarterly earnings results on Wednesday. The company reported $1.27 EPS for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.04. The firm had revenue of $363.80 million for the quarter, compared to analyst estimates of $362.62 million. UniFirst Corp. had a net margin of 8.09% and a return on equity of 9.19%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.43 EPS.
Shares of UniFirst Corp. (NYSE:UNF) opened at 130.80 on Wednesday. The stock has a market cap of $2.65 billion, a PE ratio of 22.33 and a beta of 0.79. UniFirst Corp. has a 52 week low of $96.90 and a 52 week high of $137.01. The stock has a 50 day moving average of $131.03 and a 200-day moving average of $118.72.
In other news, VP David A. Difillippo sold 1,267 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $115.48, for a total transaction of $146,313.16. Following the completion of the sale, the vice president now directly owns 3,512 shares of the company’s stock, valued at $405,565.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.20% of the company’s stock.
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Several hedge funds have recently modified their holdings of UNF. Pacad Investment Ltd. bought a new stake in shares of UniFirst Corp. during the second quarter worth about $231,000. Cubist Systematic Strategies LLC bought a new stake in shares of UniFirst Corp. during the second quarter worth about $240,000. ProShare Advisors LLC raised its stake in shares of UniFirst Corp. by 1.0% in the second quarter. ProShare Advisors LLC now owns 2,191 shares of the company’s stock worth $254,000 after buying an additional 22 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of UniFirst Corp. during the second quarter worth about $255,000. Finally, Jefferies Group LLC bought a new stake in shares of UniFirst Corp. during the second quarter worth about $275,000. 73.87% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of UniFirst Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 1st. Robert W. Baird lowered shares of UniFirst Corp. from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $125.00 to $121.00 in a report on Friday, July 1st. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of UniFirst Corp. in a report on Thursday, June 30th.
UniFirst Corp. Company Profile
UniFirst Corporation (UniFirst) is a provider of workplace uniforms and protective work wear clothing in the United States. The Company designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, aprons and specialized protective wear, such as flame resistant and high visibility garments.
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