UniFirst (NYSE:UNF) Shares Cross Above 200 Day Moving Average – Time to Sell?

Shares of UniFirst Corporation (NYSE:UNF) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $245.28 and traded as high as $275.12. UniFirst shares last traded at $273.2930, with a volume of 111,284 shares trading hands.

Wall Street Analysts Forecast Growth

UNF has been the subject of a number of analyst reports. Weiss Ratings cut UniFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. UBS Group set a $262.00 price objective on UniFirst in a report on Monday, July 6th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $246.67.

UniFirst Trading Up 0.6%

The firm has a market cap of $4.94 billion, a P/E ratio of 43.11 and a beta of 0.63. The firm’s 50 day moving average is $264.77 and its two-hundred day moving average is $245.28.

UniFirst (NYSE:UNF) last issued its earnings results on Wednesday, July 1st. The textile maker reported $1.09 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.84). UniFirst had a net margin of 4.65% and a return on equity of 6.44%. The firm had revenue of $634.40 million during the quarter, compared to the consensus estimate of $627.66 million. During the same period in the previous year, the company posted $2.13 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Analysts predict that UniFirst Corporation will post 7.49 EPS for the current fiscal year.

Institutional Trading of UniFirst

Hedge funds have recently added to or reduced their stakes in the business. Modus Advisors LLC bought a new position in UniFirst during the fourth quarter worth about $28,000. EverSource Wealth Advisors LLC grew its position in shares of UniFirst by 378.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock valued at $29,000 after purchasing an additional 121 shares during the period. Geneos Wealth Management Inc. grew its position in shares of UniFirst by 474.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 128 shares during the period. Danske Bank A S bought a new stake in UniFirst during the 3rd quarter worth approximately $33,000. Finally, Brown Brothers Harriman & Co. increased its stake in UniFirst by 1,244.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 336 shares of the textile maker’s stock worth $56,000 after purchasing an additional 311 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

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).