UniFirst Corp (NYSE:UNF)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $140.87 and last traded at $143.28, with a volume of 1010 shares. The stock had previously closed at $146.09.
Several research firms have commented on UNF. Robert W. Baird set a $170.00 target price on shares of UniFirst and gave the stock a “buy” rating in a research report on Thursday, October 18th. Zacks Investment Research lowered shares of UniFirst from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. Finally, ValuEngine lowered shares of UniFirst from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th.
The company has a market capitalization of $2.78 billion, a PE ratio of 19.14 and a beta of 0.77.
UniFirst (NYSE:UNF) last issued its quarterly earnings results on Wednesday, October 17th. The textile maker reported $2.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.42. UniFirst had a net margin of 9.33% and a return on equity of 8.54%. The company had revenue of $434.10 million during the quarter, compared to analyst estimates of $421.45 million. During the same quarter last year, the business posted $1.44 EPS. UniFirst’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, research analysts predict that UniFirst Corp will post 7.01 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Friday, December 7th will be paid a dividend of $0.1125 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.45 annualized dividend and a dividend yield of 0.32%. UniFirst’s payout ratio is currently 6.04%.
In other news, major shareholder The Ronald D. Croatti Trust – 1 sold 2,200 shares of the firm’s stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $152.65, for a total transaction of $335,830.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 6,600 shares of company stock valued at $1,067,110. 1.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in UNF. Captrust Financial Advisors grew its stake in UniFirst by 743.3% in the 2nd quarter. Captrust Financial Advisors now owns 565 shares of the textile maker’s stock valued at $100,000 after buying an additional 498 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in UniFirst by 43.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 947 shares of the textile maker’s stock valued at $168,000 after buying an additional 286 shares in the last quarter. Laurion Capital Management LP purchased a new position in UniFirst in the 3rd quarter valued at approximately $251,000. Trexquant Investment LP purchased a new position in UniFirst in the 3rd quarter valued at approximately $253,000. Finally, Janney Montgomery Scott LLC purchased a new position in UniFirst in the 3rd quarter valued at approximately $291,000. Institutional investors and hedge funds own 76.48% of the company’s stock.
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UniFirst Company Profile (NYSE:UNF)
UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Canada, and Europe. It operates through US Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. The company 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.
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