UniFirst Corp (NYSE:UNF) – Investment analysts at William Blair issued their Q1 2019 earnings estimates for UniFirst in a report issued on Thursday, October 18th. William Blair analyst T. Mulrooney expects that the textile maker will earn $1.86 per share for the quarter. William Blair also issued estimates for UniFirst’s Q2 2019 earnings at $1.61 EPS, Q3 2019 earnings at $1.66 EPS and FY2019 earnings at $6.97 EPS.
UNF has been the subject of several other reports. Zacks Investment Research downgraded shares of UniFirst from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Barrington Research reaffirmed a “hold” rating on shares of UniFirst in a report on Friday, June 29th. Robert W. Baird raised their price objective on shares of UniFirst from $183.00 to $198.00 and gave the stock an “outperform” rating in a report on Thursday, June 28th. Finally, ValuEngine downgraded shares of UniFirst from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $188.00.
UNF opened at $151.20 on Friday. The company has a market capitalization of $2.93 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 2.24 and a beta of 0.55. UniFirst has a 12 month low of $144.30 and a 12 month high of $193.05.
UniFirst (NYSE:UNF) last released its quarterly earnings data on Wednesday, October 17th. The textile maker reported $2.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.42. The company had revenue of $434.10 million during the quarter, compared to the consensus estimate of $421.45 million. UniFirst had a net margin of 9.33% and a return on equity of 8.54%. UniFirst’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $1.44 EPS.
A number of large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in UniFirst by 6.6% in the 2nd quarter. BlackRock Inc. now owns 2,111,515 shares of the textile maker’s stock valued at $373,529,000 after purchasing an additional 131,353 shares during the period. Northern Trust Corp boosted its holdings in UniFirst by 0.8% in the 2nd quarter. Northern Trust Corp now owns 318,869 shares of the textile maker’s stock valued at $56,407,000 after purchasing an additional 2,453 shares during the period. BTIM Corp. bought a new position in UniFirst in the 2nd quarter valued at $31,182,000. Cornerstone Wealth Management LLC bought a new position in UniFirst in the 2nd quarter valued at $701,000. Finally, Principal Financial Group Inc. boosted its holdings in UniFirst by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 121,125 shares of the textile maker’s stock valued at $19,580,000 after purchasing an additional 3,506 shares during the period. 76.38% of the stock is owned by hedge funds and other institutional investors.
In other UniFirst news, major shareholder Cecelia Levenstein sold 500 shares of the firm’s stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $188.78, for a total value of $94,390.00. Following the completion of the transaction, the insider now directly owns 118,808 shares of the company’s stock, valued at approximately $22,428,574.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder The Ronald D. Croatti Trust – 1 sold 2,200 shares of the firm’s stock in a transaction on Wednesday, October 17th. The shares were sold at an average price of $152.65, for a total transaction of $335,830.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,215 shares of company stock valued at $1,078,909. 1.00% of the stock is owned by insiders.
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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