UniFirst (NYSE:UNF) released its quarterly earnings data on Wednesday. The textile maker reported $1.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.02, Bloomberg Earnings reports. The firm had revenue of $427.38 million for the quarter, compared to the consensus estimate of $420.45 million. UniFirst had a return on equity of 8.12% and a net margin of 7.45%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.19 earnings per share. UniFirst updated its FY18 guidance to $7.95-8.05 EPS.
UniFirst opened at $177.00 on Friday, according to Marketbeat Ratings. The stock has a market capitalization of $3.63 billion, a P/E ratio of 33.52, a price-to-earnings-growth ratio of 2.24 and a beta of 0.63. UniFirst has a 1 year low of $135.95 and a 1 year high of $193.05.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 7th will be paid a $0.1125 dividend. This represents a $0.45 annualized dividend and a dividend yield of 0.25%. UniFirst’s payout ratio is presently 8.52%.
Several research firms recently issued reports on UNF. Robert W. Baird raised their target price on UniFirst from $183.00 to $198.00 and gave the stock an “outperform” rating in a research note on Thursday. Zacks Investment Research cut UniFirst from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 30th. Barrington Research reissued a “hold” rating on shares of UniFirst in a research note on Thursday, March 29th. Finally, ValuEngine raised UniFirst from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. UniFirst has an average rating of “Hold” and an average price target of $193.50.
In other UniFirst news, insider Steven S. Sintros sold 919 shares of UniFirst stock in a transaction that occurred on Monday, June 25th. The stock was sold at an average price of $181.75, for a total transaction of $167,028.25. Following the sale, the insider now directly owns 5,690 shares of the company’s stock, valued at approximately $1,034,157.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP David A. Difillippo sold 1,046 shares of UniFirst stock in a transaction that occurred on Tuesday, April 24th. The shares were sold at an average price of $161.70, for a total value of $169,138.20. Following the sale, the vice president now directly owns 7,068 shares in the company, valued at $1,142,895.60. The disclosure for this sale can be found here. Insiders sold 2,867 shares of company stock worth $491,897 over the last three months. 1.00% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Sei Investments Co. boosted its position in UniFirst by 24.7% during the 1st quarter. Sei Investments Co. now owns 1,519 shares of the textile maker’s stock valued at $245,000 after acquiring an additional 301 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in UniFirst by 5.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 6,180 shares of the textile maker’s stock valued at $999,000 after buying an additional 340 shares in the last quarter. Comerica Bank increased its holdings in UniFirst by 2.3% in the first quarter. Comerica Bank now owns 16,427 shares of the textile maker’s stock valued at $2,660,000 after buying an additional 369 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in UniFirst by 2.0% in the first quarter. Great West Life Assurance Co. Can now owns 20,194 shares of the textile maker’s stock valued at $3,262,000 after buying an additional 395 shares in the last quarter. Finally, Xact Kapitalforvaltning AB increased its holdings in UniFirst by 22.5% in the first quarter. Xact Kapitalforvaltning AB now owns 2,179 shares of the textile maker’s stock valued at $352,000 after buying an additional 400 shares in the last quarter. 71.77% of the stock is currently owned by institutional investors and hedge funds.
UniFirst Company Profile
UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Canada, and Europe. It operates through US Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. 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, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.
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