UniFirst (NYSE:UNF) has been given a $170.00 price objective by investment analysts at Robert W. Baird in a report released on Thursday. The firm currently has a “buy” rating on the textile maker’s stock. Robert W. Baird’s target price would suggest a potential upside of 10.93% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research raised UniFirst from a “hold” rating to a “buy” rating and set a $198.00 target price for the company in a research note on Saturday, June 30th. ValuEngine cut UniFirst from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Finally, Barrington Research reissued a “hold” rating on shares of UniFirst in a research note on Friday, June 29th.
UNF stock opened at $153.25 on Thursday. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 2.24 and a beta of 0.55. UniFirst has a 52-week low of $144.30 and a 52-week high of $193.05.
UniFirst (NYSE:UNF) last posted its earnings results on Wednesday, October 17th. The textile maker reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.42. The company had revenue of $434.10 million during the quarter, compared to analysts’ expectations of $421.45 million. UniFirst had a return on equity of 8.54% and a net margin of 9.33%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.44 earnings per share. Equities analysts expect that UniFirst will post 6.85 EPS for the current year.
In other news, major shareholder Cecelia Levenstein sold 500 shares of the firm’s stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $188.78, for a total transaction of $94,390.00. Following the completion of the transaction, the insider now directly owns 118,808 shares in the company, valued at $22,428,574.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 stock was sold at an average price of $152.65, for a total value of $335,830.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,215 shares of company stock valued at $1,078,909. 1.00% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of UniFirst by 6.6% during the second quarter. BlackRock Inc. now owns 2,111,515 shares of the textile maker’s stock worth $373,529,000 after buying an additional 131,353 shares during the period. Northern Trust Corp boosted its position in shares of UniFirst by 0.8% during the second quarter. Northern Trust Corp now owns 318,869 shares of the textile maker’s stock worth $56,407,000 after buying an additional 2,453 shares during the period. BTIM Corp. purchased a new position in shares of UniFirst during the second quarter worth $31,182,000. Cornerstone Wealth Management LLC purchased a new position in shares of UniFirst during the second quarter worth $701,000. Finally, Principal Financial Group Inc. boosted its position in shares of UniFirst by 3.0% during the first quarter. Principal Financial Group Inc. now owns 121,125 shares of the textile maker’s stock worth $19,580,000 after buying an additional 3,506 shares during the period. Institutional investors and hedge funds own 76.38% of the company’s stock.
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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