UniFirst Co. (NYSE:UNF) to Post FY2024 Earnings of $7.83 Per Share, William Blair Forecasts

UniFirst Co. (NYSE:UNF) – Investment analysts at William Blair boosted their FY2024 EPS estimates for shares of UniFirst in a research note issued on Wednesday, June 26th. William Blair analyst T. Mulrooney now expects that the textile maker will earn $7.83 per share for the year, up from their previous forecast of $7.44. The consensus estimate for UniFirst’s current full-year earnings is $7.83 per share. William Blair also issued estimates for UniFirst’s Q3 2025 earnings at $2.22 EPS.

Other equities analysts have also recently issued research reports about the stock. Robert W. Baird increased their price objective on shares of UniFirst from $185.00 to $199.00 and gave the stock a “neutral” rating in a research report on Thursday, June 27th. UBS Group increased their price objective on shares of UniFirst from $186.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. increased their price objective on shares of UniFirst from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, June 27th. Finally, StockNews.com raised shares of UniFirst from a “hold” rating to a “buy” rating in a research report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $186.00.

UniFirst Price Performance

UniFirst stock opened at $171.49 on Monday. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 25.04 and a beta of 0.81. The firm has a 50 day simple moving average of $161.06 and a 200-day simple moving average of $166.89. UniFirst has a 1-year low of $149.58 and a 1-year high of $187.22.

Institutional Investors Weigh In On UniFirst

Institutional investors and hedge funds have recently bought and sold shares of the stock. Eagle Bay Advisors LLC raised its holdings in shares of UniFirst by 78.1% in the fourth quarter. Eagle Bay Advisors LLC now owns 171 shares of the textile maker’s stock valued at $31,000 after buying an additional 75 shares during the last quarter. Covestor Ltd raised its holdings in shares of UniFirst by 69.7% in the first quarter. Covestor Ltd now owns 414 shares of the textile maker’s stock valued at $72,000 after buying an additional 170 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of UniFirst in the fourth quarter valued at about $80,000. Quest Partners LLC purchased a new stake in shares of UniFirst in the fourth quarter valued at about $82,000. Finally, Orion Capital Management LLC purchased a new stake in shares of UniFirst in the third quarter valued at about $99,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at UniFirst

In related news, major shareholder Cecelia Levenstein sold 11,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $158.73, for a total transaction of $1,746,030.00. Following the completion of the transaction, the insider now owns 87,558 shares in the company, valued at $13,898,081.34. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Michael A. Croatti sold 1,800 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $169.00, for a total transaction of $304,200.00. Following the completion of the transaction, the vice president now owns 5,747 shares in the company, valued at $971,243. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Cecelia Levenstein sold 11,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $158.73, for a total transaction of $1,746,030.00. Following the completion of the sale, the insider now directly owns 87,558 shares of the company’s stock, valued at $13,898,081.34. The disclosure for this sale can be found here. Insiders sold 28,033 shares of company stock valued at $4,398,882 in the last 90 days. Company insiders own 0.74% of the company’s stock.

UniFirst Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a $0.33 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.32 annualized dividend and a yield of 0.77%. UniFirst’s dividend payout ratio is presently 19.27%.

UniFirst Company Profile

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.