UniFirst (NYSE:UNF) Hits New 12-Month High – Should You Buy?

Shares of UniFirst Co. (NYSE:UNF) hit a new 52-week high on Friday . The stock traded as high as $200.44 and last traded at $200.00, with a volume of 10317 shares trading hands. The stock had previously closed at $195.74.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Robert W. Baird raised their price objective on shares of UniFirst from $199.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. StockNews.com upgraded shares of UniFirst from a “hold” rating to a “buy” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, UniFirst has an average rating of “Hold” and a consensus target price of $186.25.

UniFirst Stock Up 2.5 %

The firm’s 50-day moving average price is $188.90 and its two-hundred day moving average price is $177.41. The firm has a market capitalization of $3.74 billion, a PE ratio of 25.83 and a beta of 0.82.

UniFirst Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.70%. This is a boost from UniFirst’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, December 6th. UniFirst’s payout ratio is presently 16.99%.

Institutional Trading of UniFirst

A number of hedge funds have recently modified their holdings of UNF. BNP Paribas Financial Markets raised its position in UniFirst by 336.5% during the first quarter. BNP Paribas Financial Markets now owns 18,582 shares of the textile maker’s stock valued at $3,223,000 after buying an additional 14,325 shares during the period. Texas Permanent School Fund Corp lifted its position in shares of UniFirst by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 13,225 shares of the textile maker’s stock worth $2,294,000 after purchasing an additional 176 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of UniFirst by 4.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,211 shares of the textile maker’s stock worth $383,000 after purchasing an additional 102 shares during the period. Quantbot Technologies LP purchased a new position in UniFirst during the first quarter valued at approximately $479,000. Finally, SG Americas Securities LLC increased its stake in UniFirst by 326.6% in the 1st quarter. SG Americas Securities LLC now owns 3,498 shares of the textile maker’s stock valued at $607,000 after buying an additional 2,678 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

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.