UniFirst (NYSE:UNF) Raised to Strong-Buy at StockNews.com

UniFirst (NYSE:UNF) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.

Separately, Robert W. Baird increased their target price on UniFirst from $199.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $186.25.

UniFirst Trading Up 0.6 %

Shares of UNF stock opened at $177.30 on Tuesday. The stock has a market cap of $3.29 billion, a P/E ratio of 22.82 and a beta of 0.84. UniFirst has a 1 year low of $149.58 and a 1 year high of $208.20. The stock has a 50 day simple moving average of $191.90 and a 200 day simple moving average of $184.70.

Insider Activity

In other news, CEO Steven S. Sintros sold 3,207 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.04, for a total transaction of $619,079.28. Following the sale, the chief executive officer now directly owns 22,571 shares in the company, valued at approximately $4,357,105.84. The trade was a 12.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP David Martin Katz sold 587 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.08, for a total value of $113,337.96. Following the completion of the transaction, the vice president now directly owns 5,625 shares of the company’s stock, valued at $1,086,075. This represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,294 shares of company stock worth $2,546,632. Insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On UniFirst

A number of institutional investors have recently added to or reduced their stakes in the business. Cerity Partners LLC bought a new stake in UniFirst in the third quarter valued at approximately $10,270,000. Victory Capital Management Inc. boosted its stake in shares of UniFirst by 8.9% in the 2nd quarter. Victory Capital Management Inc. now owns 622,048 shares of the textile maker’s stock valued at $106,700,000 after purchasing an additional 51,088 shares during the last quarter. Copeland Capital Management LLC increased its position in shares of UniFirst by 12.4% during the third quarter. Copeland Capital Management LLC now owns 332,187 shares of the textile maker’s stock worth $65,989,000 after buying an additional 36,651 shares during the period. American Century Companies Inc. raised its stake in UniFirst by 25.9% during the second quarter. American Century Companies Inc. now owns 173,315 shares of the textile maker’s stock worth $29,729,000 after buying an additional 35,604 shares during the last quarter. Finally, Barclays PLC lifted its holdings in UniFirst by 464.6% in the third quarter. Barclays PLC now owns 41,220 shares of the textile maker’s stock valued at $8,188,000 after buying an additional 33,919 shares during the period. 78.17% of the stock is owned by institutional investors.

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.