Barrington Research Analysts Increase Earnings Estimates for Unifirst Corporation (NYSE:UNF)

Unifirst Corporation (NYSE:UNF) – Barrington Research lifted their FY2018 earnings per share estimates for Unifirst Corporation in a report released on Tuesday. Barrington Research analyst K. Steinke now expects that the textile maker will post earnings of $5.44 per share for the year, up from their previous estimate of $5.36.

Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Unifirst Corporation from a “hold” rating to a “buy” rating and set a $157.00 price objective on the stock in a research report on Saturday, July 1st. Robert W. Baird raised shares of Unifirst Corporation from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $145.00 to $163.00 in a research report on Thursday, June 29th. Finally, BidaskClub downgraded shares of Unifirst Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday.

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Unifirst Corporation (NYSE:UNF) traded down 0.22% during midday trading on Thursday, reaching $137.80. 9,424 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $140.17 and a 200 day moving average price of $136.70. Unifirst Corporation has a 12-month low of $112.67 and a 12-month high of $147.65. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 25.39 and a beta of 0.70.

Unifirst Corporation (NYSE:UNF) last posted its quarterly earnings data on Wednesday, June 28th. The textile maker reported $1.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.02. Unifirst Corporation had a net margin of 7.12% and a return on equity of 7.41%. The company had revenue of $409.80 million during the quarter, compared to analysts’ expectations of $396.07 million. During the same period in the prior year, the company posted $1.49 earnings per share. Unifirst Corporation’s revenue for the quarter was up 11.4% compared to the same quarter last year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend is Thursday, September 7th.

In other news, VP Cynthia Croatti sold 1,755 shares of the company’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $142.00, for a total value of $249,210.00. Following the sale, the vice president now directly owns 4,000 shares of the company’s stock, valued at approximately $568,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.70% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its stake in Unifirst Corporation by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 1,710 shares of the textile maker’s stock worth $241,000 after buying an additional 40 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Unifirst Corporation by 1.1% in the first quarter. Municipal Employees Retirement System of Michigan now owns 3,520 shares of the textile maker’s stock valued at $498,000 after buying an additional 40 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Unifirst Corporation by 1.7% in the first quarter. PNC Financial Services Group Inc. now owns 4,069 shares of the textile maker’s stock valued at $576,000 after buying an additional 69 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Unifirst Corporation by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 6,300 shares of the textile maker’s stock valued at $891,000 after buying an additional 100 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Unifirst Corporation by 1.3% in the first quarter. Arizona State Retirement System now owns 8,057 shares of the textile maker’s stock valued at $1,140,000 after buying an additional 100 shares during the period. 74.80% of the stock is currently owned by hedge funds and other institutional investors.

About Unifirst Corporation

UniFirst Corporation is a provider of workplace uniforms and protective work wear clothing in the United States. 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, aprons and specialized protective wear, such as flame resistant and high visibility garments.

Earnings History and Estimates for Unifirst Corporation (NYSE:UNF)

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