UBS Group Issues Pessimistic Forecast for UniFirst (NYSE:UNF) Stock Price

UniFirst (NYSE:UNF) had its price objective trimmed by UBS Group from $235.00 to $194.00 in a report released on Tuesday,Benzinga reports. The firm currently has a neutral rating on the textile maker’s stock.

Separately, StockNews.com downgraded shares of UniFirst from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th.

UniFirst Trading Down 14.3 %

UNF stock opened at $169.30 on Tuesday. UniFirst has a 1-year low of $149.58 and a 1-year high of $243.70. The business’s 50-day moving average price is $213.31 and its two-hundred day moving average price is $198.98. The firm has a market cap of $3.14 billion, a PE ratio of 21.65 and a beta of 0.89.

UniFirst (NYSE:UNF) last released its quarterly earnings data on Wednesday, January 8th. The textile maker reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.09. UniFirst had a return on equity of 7.40% and a net margin of 6.00%. The business had revenue of $604.91 million for the quarter, compared to analysts’ expectations of $606.60 million. During the same quarter in the previous year, the business posted $2.26 EPS. UniFirst’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts forecast that UniFirst will post 7.71 earnings per share for the current year.

UniFirst Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a $0.35 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.40 annualized dividend and a yield of 0.83%. UniFirst’s payout ratio is currently 17.90%.

Insider Buying and Selling

In related news, VP David Martin Katz sold 1,299 shares of the business’s stock in a transaction 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 transaction, the vice president now directly owns 6,455 shares in the company, valued at approximately $1,361,682.25. The trade was a 16.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.86% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Independence Bank of Kentucky bought a new position in UniFirst in the 4th quarter valued at about $34,000. Blue Trust Inc. increased its stake in shares of UniFirst by 1,105.3% during the fourth quarter. Blue Trust Inc. now owns 229 shares of the textile maker’s stock worth $39,000 after purchasing an additional 210 shares during the period. Smartleaf Asset Management LLC lifted its holdings in UniFirst by 252.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker’s stock worth $59,000 after purchasing an additional 247 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in UniFirst by 187.2% in the 4th quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker’s stock valued at $61,000 after purchasing an additional 234 shares during the period. Finally, Sterling Capital Management LLC grew its holdings in UniFirst by 811.5% in the 4th quarter. Sterling Capital Management LLC now owns 474 shares of the textile maker’s stock valued at $81,000 after buying an additional 422 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

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.