Unifirst Corporation (UNF) Downgraded to Hold at Zacks Investment Research
Unifirst Corporation (NYSE:UNF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.
According to Zacks, “UniFirst Corporation is a provider of workplace uniforms and protective clothing. They rent, manufacture and sell a wide range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, jumpsuits, lab coats, smocks and aprons, and also rent industrial wiping products, floormats and other non-garment items, to a variety of manufacturers, retailers and service companies. They serve businesses of all sizes in numerous industry categories. “
UNF has been the subject of a number of other reports. BidaskClub downgraded Unifirst Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Robert W. Baird upgraded Unifirst Corporation from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $145.00 to $163.00 in a research note on Thursday, June 29th.
Unifirst Corporation (NYSE UNF) traded up 0.32% during mid-day trading on Friday, hitting $141.70. The stock had a trading volume of 26,026 shares. The firm has a market cap of $2.87 billion, a PE ratio of 26.11 and a beta of 0.70. The company has a 50-day moving average of $140.36 and a 200-day moving average of $138.50. Unifirst Corporation has a 12-month low of $116.67 and a 12-month high of $147.65.
Unifirst Corporation (NYSE:UNF) last announced its earnings results on Wednesday, June 28th. The textile maker reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.02. The company had revenue of $409.80 million during the quarter, compared to the consensus estimate of $396.07 million. Unifirst Corporation had a return on equity of 7.41% and a net margin of 7.12%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm earned $1.49 earnings per share. Analysts expect that Unifirst Corporation will post $4.93 earnings per share for the current year.
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Large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its stake in Unifirst Corporation by 8.9% in the first quarter. Victory Capital Management Inc. now owns 528,690 shares of the textile maker’s stock worth $74,783,000 after purchasing an additional 43,313 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Unifirst Corporation by 4.8% in the first quarter. Bank of New York Mellon Corp now owns 202,884 shares of the textile maker’s stock worth $28,698,000 after purchasing an additional 9,215 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Unifirst Corporation by 2.0% in the first quarter. Ameriprise Financial Inc. now owns 216,070 shares of the textile maker’s stock worth $30,563,000 after purchasing an additional 4,181 shares in the last quarter. BlackRock Inc. grew its stake in Unifirst Corporation by 52,993.4% in the first quarter. BlackRock Inc. now owns 1,852,961 shares of the textile maker’s stock worth $262,102,000 after purchasing an additional 1,849,471 shares in the last quarter. Finally, Reinhart Partners Inc. grew its stake in Unifirst Corporation by 3.4% in the second quarter. Reinhart Partners Inc. now owns 8,728 shares of the textile maker’s stock worth $1,228,000 after purchasing an additional 290 shares in the last quarter. Institutional investors and hedge funds own 73.47% 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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