Zacks: Unifirst Corporation (NYSE:UNF) Given Consensus Rating of “Hold” by Brokerages
Shares of Unifirst Corporation (NYSE:UNF) have been given a consensus broker rating score of 2.67 (Hold) from the six brokers that provide coverage for the company, Zacks Investment Research reports. Five analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. Unifirst Corporation’s rating score has improved by 11% in the last 90 days as a result of various analysts’ ratings changes.
Brokerages have set a 1 year consensus price target of $148.00 for the company and are expecting that the company will post $1.23 EPS for the current quarter, according to Zacks. Zacks has also given Unifirst Corporation an industry rank of 47 out of 265 based on the ratings given to its competitors.
Several research firms have recently weighed in on UNF. BidaskClub downgraded shares of Unifirst Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research cut shares of Unifirst Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, Robert W. Baird upgraded shares of Unifirst Corporation from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $145.00 to $163.00 in a research report on Thursday, June 29th.
Shares of Unifirst Corporation (NYSE UNF) traded up 1.22% during mid-day trading on Friday, reaching $140.80. 22,488 shares of the company’s stock traded hands. The company has a market cap of $2.85 billion, a P/E ratio of 25.94 and a beta of 0.70. Unifirst Corporation has a 12-month low of $115.05 and a 12-month high of $147.65. The company’s 50 day moving average is $140.20 and its 200 day moving average is $136.09.
Unifirst Corporation (NYSE:UNF) last announced its earnings results on Wednesday, June 28th. The textile maker reported $1.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.02. Unifirst Corporation had a net margin of 7.12% and a return on equity of 7.41%. The business had revenue of $409.80 million for the quarter, compared to analyst estimates of $396.07 million. During the same quarter last year, the business earned $1.49 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, analysts predict that Unifirst Corporation will post $4.93 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a dividend of $0.0375 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.15 annualized dividend and a dividend yield of 0.11%.
In other news, VP Cynthia Croatti sold 1,755 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $142.00, for a total transaction of $249,210.00. Following the completion of the sale, the vice president now owns 4,000 shares in the company, valued at approximately $568,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.70% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Unifirst Corporation by 52,993.4% in the first quarter. BlackRock Inc. now owns 1,852,961 shares of the textile maker’s stock valued at $262,102,000 after buying an additional 1,849,471 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in Unifirst Corporation during the first quarter valued at approximately $46,588,000. Norges Bank acquired a new stake in Unifirst Corporation during the fourth quarter valued at approximately $31,693,000. Neuberger Berman Group LLC increased its stake in Unifirst Corporation by 32.4% in the first quarter. Neuberger Berman Group LLC now owns 693,703 shares of the textile maker’s stock valued at $98,124,000 after buying an additional 169,919 shares during the period. Finally, Vanguard Group Inc. increased its stake in Unifirst Corporation by 6.4% in the first quarter. Vanguard Group Inc. now owns 1,389,043 shares of the textile maker’s stock valued at $196,481,000 after buying an additional 83,165 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.
Unifirst Corporation Company Profile
UniFirst Corporation 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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