UniFirst Corp Forecasted to Post Q4 2018 Earnings of $1.59 Per Share (UNF)

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) traded up $5.05 during trading on Friday, reaching $175.05. 97,200 shares of the company’s stock traded hands, compared to its average volume of 116,200. UniFirst has a 52-week low of $124.85 and a 52-week high of $175.05. The company has a market cap of $3,550.00, a price-to-earnings ratio of 46.93, a price-to-earnings-growth ratio of 3.27 and a beta of 0.74.

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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About UniFirst

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.

Earnings History and Estimates for UniFirst (NYSE:UNF)

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