UniFirst (NYSE:UNF) Upgraded to “Buy” by StockNews.com

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

A number of other analysts have also recently weighed in on the stock. UBS Group boosted their target price on shares of UniFirst from $184.00 to $186.00 and gave the stock a “neutral” rating in a research note on Thursday, March 28th. Robert W. Baird reaffirmed a “neutral” rating and set a $185.00 target price on shares of UniFirst in a research note on Thursday, January 4th. Finally, Barclays boosted their target price on shares of UniFirst from $160.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $177.75.

UniFirst Price Performance

NYSE:UNF traded up $2.60 during mid-day trading on Friday, reaching $158.51. The stock had a trading volume of 127,159 shares, compared to its average volume of 88,088. The stock has a 50-day simple moving average of $167.70 and a two-hundred day simple moving average of $169.57. The stock has a market capitalization of $2.96 billion, a PE ratio of 25.94 and a beta of 0.82. UniFirst has a 12 month low of $150.50 and a 12 month high of $187.22.

UniFirst (NYSE:UNF) last announced its quarterly earnings data on Wednesday, March 27th. The textile maker reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.19). The firm had revenue of $590.71 million during the quarter, compared to the consensus estimate of $587.56 million. UniFirst had a net margin of 4.92% and a return on equity of 6.19%. Equities analysts expect that UniFirst will post 7.48 EPS for the current year.

Insider Buying and Selling

In related news, EVP William Masters Ross sold 2,282 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $175.27, for a total value of $399,966.14. Following the sale, the executive vice president now owns 4,034 shares of the company’s stock, valued at $707,039.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.74% of the stock is currently owned by insiders.

Institutional Trading of UniFirst

Several institutional investors have recently modified their holdings of UNF. Eagle Bay Advisors LLC grew its stake in shares of UniFirst by 78.1% in the fourth quarter. Eagle Bay Advisors LLC now owns 171 shares of the textile maker’s stock worth $31,000 after purchasing an additional 75 shares during the last quarter. Covestor Ltd lifted its holdings in UniFirst by 187.4% in the first quarter. Covestor Ltd now owns 273 shares of the textile maker’s stock valued at $50,000 after buying an additional 178 shares during the period. Tower Research Capital LLC TRC lifted its holdings in UniFirst by 28.9% in the third quarter. Tower Research Capital LLC TRC now owns 393 shares of the textile maker’s stock valued at $64,000 after buying an additional 88 shares during the period. Point72 Hong Kong Ltd acquired a new position in UniFirst in the first quarter valued at $69,000. Finally, Principal Securities Inc. acquired a new position in UniFirst in the fourth quarter valued at $80,000. Institutional investors own 78.17% of the company’s stock.

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.