UniFirst Co. (NYSE:UNF) Short Interest Update

UniFirst Co. (NYSE:UNF) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 166,100 shares, an increase of 15.3% from the January 15th total of 144,100 shares. Based on an average daily trading volume, of 115,700 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.1% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

UNF has been the subject of a number of recent analyst reports. UBS Group upped their target price on UniFirst from $190.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, January 9th. StockNews.com downgraded shares of UniFirst from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, Robert W. Baird lifted their target price on shares of UniFirst from $199.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. 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. According to data from MarketBeat, UniFirst presently has a consensus rating of “Hold” and an average target price of $197.50.

Insider Activity

In other news, VP David Martin Katz sold 587 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $193.08, for a total transaction of $113,337.96. Following the transaction, the vice president now owns 5,625 shares in the company, valued at approximately $1,086,075. This trade represents a 9.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven S. Sintros sold 3,207 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $193.04, for a total transaction of $619,079.28. Following the transaction, the chief executive officer now directly owns 22,571 shares in the company, valued at $4,357,105.84. The trade was a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,294 shares of company stock worth $2,546,632 in the last three months. 0.86% of the stock is owned by insiders.

Institutional Investors Weigh In On UniFirst

A number of institutional investors have recently added to or reduced their stakes in the company. Independence Bank of Kentucky bought a new stake in shares of UniFirst in the 4th quarter worth approximately $34,000. GAMMA Investing LLC raised its stake in shares of UniFirst by 60.5% in the third quarter. GAMMA Investing LLC now owns 183 shares of the textile maker’s stock valued at $36,000 after purchasing an additional 69 shares in the last quarter. Blue Trust Inc. lifted its position in UniFirst by 1,105.3% in 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 boosted its stake in UniFirst by 252.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker’s stock worth $59,000 after buying an additional 247 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings 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 buying an additional 234 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

UniFirst Stock Down 1.3 %

UNF opened at $213.50 on Monday. UniFirst has a 12-month low of $149.58 and a 12-month high of $243.70. The firm has a market capitalization of $3.96 billion, a P/E ratio of 27.30 and a beta of 0.89. The stock’s 50 day moving average price is $203.72 and its two-hundred day moving average price is $195.06.

UniFirst (NYSE:UNF) last announced its earnings results on Wednesday, January 8th. The textile maker reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.09. UniFirst had a net margin of 6.00% and a return on equity of 7.40%. The business had revenue of $604.91 million for the quarter, compared to analyst estimates of $606.60 million. During the same quarter in the previous year, the firm posted $2.26 earnings per share. UniFirst’s revenue was up 1.9% compared to the same quarter last year. As a group, analysts anticipate that UniFirst will post 7.63 earnings per share for the current year.

UniFirst Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Friday, March 7th. UniFirst’s payout ratio is presently 17.90%.

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.