UniFirst (NYSE:UNF) Stock Crosses Above 200-Day Moving Average – Time to Sell?

UniFirst Corporation (NYSE:UNF) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $222.93 and traded as high as $267.18. UniFirst shares last traded at $265.1570, with a volume of 199,818 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. UBS Group lifted their target price on shares of UniFirst from $206.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, April 2nd. Barclays lifted their target price on shares of UniFirst from $250.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 12th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $228.25.

UniFirst Stock Up 0.4%

The business’s fifty day moving average is $259.34 and its 200-day moving average is $222.93. The stock has a market capitalization of $4.79 billion, a PE ratio of 35.93 and a beta of 0.63.

UniFirst (NYSE:UNF) last released its earnings results on Wednesday, April 1st. The textile maker reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.08). UniFirst had a net margin of 5.49% and a return on equity of 6.49%. The company had revenue of $622.51 million during the quarter, compared to analysts’ expectations of $614.91 million. During the same quarter in the previous year, the firm posted $1.31 earnings per share. UniFirst’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that UniFirst Corporation will post 7.21 EPS for the current fiscal year.

UniFirst Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, June 5th. UniFirst’s payout ratio is presently 19.78%.

Institutional Investors Weigh In On UniFirst

A number of institutional investors have recently bought and sold shares of UNF. Geneos Wealth Management Inc. grew its stake in UniFirst by 474.1% during the first quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker’s stock worth $27,000 after buying an additional 128 shares during the period. Modus Advisors LLC purchased a new stake in UniFirst during the fourth quarter worth approximately $28,000. EverSource Wealth Advisors LLC grew its stake in UniFirst by 378.1% during the second quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock worth $29,000 after buying an additional 121 shares during the period. Danske Bank A S purchased a new stake in UniFirst during the third quarter worth approximately $33,000. Finally, Cornerstone Planning Group LLC purchased a new stake in UniFirst during the third quarter worth approximately $36,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

About UniFirst

UniFirst Corporation (NYSE: UNF) is a leading provider of customized uniform rental and facility service programs in North America and Europe. The company specializes in the rental, laundering and maintenance of workwear, corporate apparel and protective garments for a broad range of industries, including manufacturing, automotive, hospitality, healthcare and food processing. UniFirst also offers a suite of facility service products such as entrance mats, restroom supplies, wipers, mops and hygienic services designed to help customers maintain clean and safe environments.

In addition to its core uniform rental business, UniFirst has expanded its product portfolio to include safety and first-responder gear, flame-resistant clothing, high-visibility apparel and personal protective equipment (PPE).