UniFirst (NYSE:UNF) Price Target Raised to $260.00

UniFirst (NYSE:UNF) had its target price upped by UBS Group from $206.00 to $260.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the textile maker’s stock.

Several other equities analysts have also commented on the stock. Robert W. Baird set a $198.00 price target on shares of UniFirst in a research report on Thursday, January 8th. Barclays lifted their price target on shares of UniFirst from $250.00 to $280.00 and gave the company an “equal weight” rating in a report on Thursday, March 12th. Zacks Research upgraded UniFirst from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of UniFirst in a research report on Wednesday, January 21st. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, UniFirst presently has an average rating of “Reduce” and an average target price of $228.25.

UniFirst Trading Up 0.1%

Shares of NYSE:UNF opened at $256.39 on Thursday. The stock’s 50-day moving average price is $240.65 and its two-hundred day moving average price is $198.27. UniFirst has a 12-month low of $147.66 and a 12-month high of $283.77. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 34.74 and a beta of 0.66.

UniFirst (NYSE:UNF) last posted its quarterly earnings data on Wednesday, April 1st. The textile maker reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.08). The company had revenue of $622.51 million for the quarter, compared to analyst estimates of $614.91 million. UniFirst had a net margin of 5.49% and a return on equity of 6.49%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.31 EPS. As a group, research analysts forecast that UniFirst will post 7.71 earnings per share for the current fiscal year.

UniFirst Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were issued a $0.365 dividend. The ex-dividend date was Friday, March 6th. This represents a $1.46 annualized dividend and a yield of 0.6%. UniFirst’s dividend payout ratio (DPR) is presently 19.31%.

Insiders Place Their Bets

In other UniFirst news, VP David Martin Katz sold 1,464 shares of UniFirst stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $237.54, for a total transaction of $347,758.56. Following the transaction, the vice president directly owned 6,461 shares of the company’s stock, valued at $1,534,745.94. The trade was a 18.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On UniFirst

Hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its holdings in shares of UniFirst by 0.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,876 shares of the textile maker’s stock valued at $1,326,000 after acquiring an additional 51 shares in the last quarter. Global Retirement Partners LLC increased its holdings in UniFirst by 5.5% in the 3rd quarter. Global Retirement Partners LLC now owns 1,204 shares of the textile maker’s stock valued at $201,000 after purchasing an additional 63 shares in the last quarter. Amalgamated Bank raised its position in UniFirst by 1.7% in the third quarter. Amalgamated Bank now owns 4,359 shares of the textile maker’s stock valued at $729,000 after purchasing an additional 74 shares during the period. American Century Companies Inc. lifted its stake in shares of UniFirst by 2.0% during the second quarter. American Century Companies Inc. now owns 4,027 shares of the textile maker’s stock worth $758,000 after purchasing an additional 78 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in shares of UniFirst by 1.3% during the fourth quarter. Panagora Asset Management Inc. now owns 6,238 shares of the textile maker’s stock worth $1,203,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

UniFirst Company Profile

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).