UniFirst Corp (NYSE:UNF) – Stock analysts at KeyCorp raised their Q4 2018 earnings estimates for shares of UniFirst in a report issued on Wednesday. KeyCorp analyst J. Box now anticipates that the textile maker will post earnings of $1.59 per share for the quarter, up from their previous forecast of $1.38. KeyCorp also issued estimates for UniFirst’s Q2 2019 earnings at $1.44 EPS.
UNF has been the subject of several other research reports. Zacks Investment Research upgraded shares of UniFirst from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a research note on Tuesday, September 12th. Northcoast Research reiterated a “neutral” rating on shares of UniFirst in a research note on Thursday, October 19th. Finally, Robert W. Baird lifted their price objective on shares of UniFirst from $163.00 to $171.00 and gave the company an “outperform” rating in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $180.00.
UniFirst (NYSE:UNF) last posted its earnings results on Wednesday, January 3rd. The textile maker reported $1.60 EPS for the quarter, topping the consensus estimate of $1.41 by $0.19. UniFirst had a net margin of 4.69% and a return on equity of 7.72%. The business had revenue of $415.80 million for the quarter, compared to the consensus estimate of $404.60 million. During the same period last year, the company earned $1.38 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently bought and sold shares of UNF. Riverhead Capital Management LLC boosted its holdings in UniFirst by 83.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,099 shares of the textile maker’s stock worth $155,000 after acquiring an additional 499 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of UniFirst by 26,600.0% in the 3rd quarter. Sei Investments Co. now owns 1,068 shares of the textile maker’s stock worth $162,000 after buying an additional 1,064 shares during the last quarter. Shelton Capital Management purchased a new position in shares of UniFirst in the 2nd quarter worth about $216,000. Amalgamated Bank boosted its holdings in shares of UniFirst by 2.0% in the 2nd quarter. Amalgamated Bank now owns 2,086 shares of the textile maker’s stock worth $294,000 after buying an additional 40 shares during the last quarter. Finally, Eaton Vance Management purchased a new position in shares of UniFirst in the 2nd quarter worth about $300,000. 74.07% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Michael A. Croatti sold 1,216 shares of UniFirst stock in a transaction on Friday, December 15th. The shares were sold at an average price of $168.99, for a total value of $205,491.84. Following the completion of the sale, the vice president now owns 3,375 shares of the company’s stock, valued at approximately $570,341.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP David Martin Katz sold 1,060 shares of UniFirst stock in a transaction on Monday, December 18th. The shares were sold at an average price of $168.15, for a total transaction of $178,239.00. Following the completion of the sale, the vice president now directly owns 2,667 shares of the company’s stock, valued at approximately $448,456.05. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 8th will be given a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Thursday, December 7th. UniFirst’s payout ratio is currently 4.02%.
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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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