Zacks Investment Research upgraded shares of Unifirst Corporation (NYSE:UNF) from a hold rating to a buy rating in a research report report published on Tuesday. They currently have $159.00 price target on the textile maker’s stock.
According to Zacks, “UniFirst Corporation is a provider of workplace uniforms and protective clothing. They rent, manufacture and sell a wide range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, jumpsuits, lab coats, smocks and aprons, and also rent industrial wiping products, floormats and other non-garment items, to a variety of manufacturers, retailers and service companies. They serve businesses of all sizes in numerous industry categories. “
UNF has been the topic of several other reports. BidaskClub lowered Unifirst Corporation from a hold rating to a sell rating in a report on Wednesday, July 12th. Robert W. Baird upgraded Unifirst Corporation from a neutral rating to an outperform rating and raised their target price for the company from $145.00 to $163.00 in a report on Thursday, June 29th.
Shares of Unifirst Corporation (UNF) opened at 145.30 on Tuesday. The stock has a market capitalization of $2.94 billion, a P/E ratio of 26.77 and a beta of 0.70. The firm’s 50-day moving average price is $140.81 and its 200-day moving average price is $138.93. Unifirst Corporation has a 52-week low of $116.67 and a 52-week high of $147.65.
Unifirst Corporation (NYSE:UNF) last released its quarterly earnings data on Wednesday, June 28th. The textile maker reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The firm had revenue of $409.80 million during the quarter, compared to analysts’ expectations of $396.07 million. Unifirst Corporation had a return on equity of 7.41% and a net margin of 7.12%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 earnings per share. Equities analysts forecast that Unifirst Corporation will post $4.93 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a $0.0375 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.10%. Unifirst Corporation’s payout ratio is presently 2.77%.
Institutional investors have recently bought and sold shares of the company. Trust Co. of Vermont bought a new position in shares of Unifirst Corporation in the second quarter worth about $149,000. Riverhead Capital Management LLC increased its stake in shares of Unifirst Corporation by 83.2% in the second quarter. Riverhead Capital Management LLC now owns 1,099 shares of the textile maker’s stock worth $155,000 after purchasing an additional 499 shares during the period. Huntington National Bank increased its stake in shares of Unifirst Corporation by 6.4% in the second quarter. Huntington National Bank now owns 1,285 shares of the textile maker’s stock worth $181,000 after purchasing an additional 77 shares during the period. Ameritas Investment Partners Inc. bought a new position in shares of Unifirst Corporation in the first quarter worth about $185,000. Finally, Citadel Advisors LLC bought a new position in shares of Unifirst Corporation in the first quarter worth about $213,000. Institutional investors and hedge funds own 73.47% of the company’s stock.
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.
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