UniFirst (NYSE:UNF) Shares Cross Above 200-Day Moving Average – Here’s What Happened

UniFirst Corporation (NYSE:UNFGet Free Report)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $245.28 and traded as high as $275.12. UniFirst shares last traded at $273.2930, with a volume of 111,284 shares trading hands.

Analyst Ratings Changes

Several brokerages recently issued reports on UNF. UBS Group set a $262.00 price objective on UniFirst in a research note on Monday, July 6th. Weiss Ratings lowered UniFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, UniFirst has a consensus rating of “Hold” and a consensus price target of $246.67.

Read Our Latest Analysis on UniFirst

UniFirst Trading Up 2.2%

The company has a market cap of $5.09 billion, a PE ratio of 44.39 and a beta of 0.63. The firm’s 50-day simple moving average is $265.22 and its two-hundred day simple moving average is $245.81.

UniFirst (NYSE:UNFGet Free Report) last posted its quarterly earnings results on Wednesday, July 1st. The textile maker reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.84). UniFirst had a return on equity of 6.44% and a net margin of 4.65%.The company had revenue of $634.40 million during the quarter, compared to analysts’ expectations of $627.66 million. During the same period in the prior year, the business posted $2.13 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, analysts predict that UniFirst Corporation will post 7.49 EPS for the current year.

UniFirst Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a $0.365 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.46 dividend on an annualized basis and a yield of 0.5%. UniFirst’s dividend payout ratio (DPR) is 23.03%.

Institutional Trading of UniFirst

Several large investors have recently added to or reduced their stakes in the company. Modus Advisors LLC purchased a new position in shares of UniFirst in the fourth quarter worth about $28,000. EverSource Wealth Advisors LLC increased its holdings in UniFirst by 378.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock worth $29,000 after buying an additional 121 shares during the period. Geneos Wealth Management Inc. raised its position in UniFirst by 474.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker’s stock worth $27,000 after buying an additional 128 shares during the last quarter. Danske Bank A S acquired a new stake in UniFirst during the 3rd quarter valued at approximately $33,000. Finally, Brown Brothers Harriman & Co. lifted its stake in UniFirst by 1,244.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 336 shares of the textile maker’s stock valued at $56,000 after acquiring an additional 311 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

About UniFirst

(Get Free Report)

UniFirst Corporation (NYSE: UNF) is a leading provider of customized uniform rental and facility service programs in North America and Europe. The company specializes in the rental, laundering and maintenance of workwear, corporate apparel and protective garments for a broad range of industries, including manufacturing, automotive, hospitality, healthcare and food processing. UniFirst also offers a suite of facility service products such as entrance mats, restroom supplies, wipers, mops and hygienic services designed to help customers maintain clean and safe environments.

In addition to its core uniform rental business, UniFirst has expanded its product portfolio to include safety and first-responder gear, flame-resistant clothing, high-visibility apparel and personal protective equipment (PPE).

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