UBS Group Forecasts Strong Price Appreciation for UniFirst (NYSE:UNF) Stock

UniFirst (NYSE:UNF) had its price objective raised by stock analysts at UBS Group from $194.00 to $196.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the textile maker’s stock. UBS Group’s price target would suggest a potential upside of 18.59% from the company’s previous close.

Several other equities analysts also recently weighed in on UNF. Robert W. Baird decreased their target price on UniFirst from $218.00 to $197.00 and set a “neutral” rating on the stock in a research report on Thursday. StockNews.com lowered UniFirst from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th.

UniFirst Price Performance

NYSE UNF traded down $11.89 on Thursday, hitting $165.27. The company had a trading volume of 26,189 shares, compared to its average volume of 98,141. The company has a market capitalization of $3.07 billion, a PE ratio of 21.21 and a beta of 0.89. UniFirst has a 12-month low of $149.58 and a 12-month high of $243.70. The company’s fifty day moving average price is $207.03 and its 200-day moving average price is $198.47.

UniFirst (NYSE:UNF) last released its earnings results on Wednesday, April 2nd. The textile maker reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.03). The company had revenue of $602.20 million for the quarter, compared to analysts’ expectations of $602.81 million. UniFirst had a return on equity of 7.40% and a net margin of 6.00%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 EPS. On average, sell-side analysts anticipate that UniFirst will post 7.71 EPS for the current year.

Insider Buying and Selling

In other news, VP David Martin Katz sold 1,299 shares of UniFirst stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $210.95, for a total transaction of $274,024.05. Following the transaction, the vice president now owns 6,455 shares in the company, valued at $1,361,682.25. The trade was a 16.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.86% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On UniFirst

Hedge funds have recently modified their holdings of the company. SageView Advisory Group LLC boosted its holdings in UniFirst by 3.1% in the 4th quarter. SageView Advisory Group LLC now owns 1,580 shares of the textile maker’s stock valued at $270,000 after purchasing an additional 48 shares during the last quarter. FMR LLC raised its position in shares of UniFirst by 3.1% during the 3rd quarter. FMR LLC now owns 1,936 shares of the textile maker’s stock valued at $385,000 after buying an additional 58 shares during the period. Principal Securities Inc. lifted its holdings in UniFirst by 10.1% in the fourth quarter. Principal Securities Inc. now owns 740 shares of the textile maker’s stock valued at $127,000 after acquiring an additional 68 shares during the last quarter. Cetera Investment Advisers grew its position in UniFirst by 3.1% in the fourth quarter. Cetera Investment Advisers now owns 2,231 shares of the textile maker’s stock worth $382,000 after acquiring an additional 68 shares during the period. Finally, Illinois Municipal Retirement Fund grew its position in UniFirst by 0.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 8,140 shares of the textile maker’s stock worth $1,393,000 after acquiring an additional 73 shares during the period. Hedge funds and other 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.