UniFirst (NYSE:UNF) Stock Price Expected to Rise, UBS Group Analyst Says

UniFirst (NYSE:UNF) had its target price lifted by analysts at UBS Group from $194.00 to $196.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the textile maker’s stock. UBS Group’s target price indicates a potential upside of 19.95% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Robert W. Baird reduced their price objective on UniFirst from $218.00 to $197.00 and set a “neutral” rating on the stock in a research note on Thursday. StockNews.com downgraded shares of UniFirst from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, UniFirst presently has an average rating of “Hold” and an average price target of $180.00.

UniFirst Stock Performance

UNF opened at $163.40 on Thursday. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 20.89 and a beta of 0.88. The firm’s 50-day simple moving average is $204.87 and its 200-day simple moving average is $198.11. UniFirst has a twelve month low of $149.58 and a twelve month high of $243.70.

UniFirst (NYSE:UNF) last issued its quarterly earnings data on Wednesday, April 2nd. The textile maker reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.03). UniFirst had a return on equity of 7.40% and a net margin of 6.00%. The firm had revenue of $602.20 million for the quarter, compared to the consensus estimate of $602.81 million. During the same period in the prior year, the company posted $1.09 earnings per share. UniFirst’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that UniFirst will post 7.71 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP David Martin Katz sold 1,299 shares of UniFirst stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $210.95, for a total transaction of $274,024.05. Following the completion of the sale, the vice president now owns 6,455 shares in the company, valued at $1,361,682.25. The trade was a 16.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On UniFirst

Hedge funds and other institutional investors have recently bought and sold shares of the business. SageView Advisory Group LLC raised its position in shares of UniFirst by 3.1% during the 4th quarter. SageView Advisory Group LLC now owns 1,580 shares of the textile maker’s stock valued at $270,000 after acquiring an additional 48 shares during the last quarter. FMR LLC increased its holdings in UniFirst by 3.1% in the third quarter. FMR LLC now owns 1,936 shares of the textile maker’s stock valued at $385,000 after purchasing an additional 58 shares during the last quarter. Principal Securities Inc. lifted its stake in UniFirst by 10.1% in the fourth quarter. Principal Securities Inc. now owns 740 shares of the textile maker’s stock valued at $127,000 after buying an additional 68 shares during the period. Cetera Investment Advisers boosted its holdings in UniFirst by 3.1% during the fourth quarter. Cetera Investment Advisers now owns 2,231 shares of the textile maker’s stock worth $382,000 after buying an additional 68 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its position in shares of UniFirst by 0.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 8,140 shares of the textile maker’s stock worth $1,393,000 after buying an additional 73 shares during the period. 78.17% of the stock is owned by institutional investors.

About UniFirst

UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada. The company operates through U.S. and Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. It 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.