UniFirst (NYSE:UNF) Reaches New 1-Year High at $196.55

UniFirst Co. (NYSE:UNF) shares reached a new 52-week high on Tuesday . The company traded as high as $196.55 and last traded at $196.30, with a volume of 36792 shares trading hands. The stock had previously closed at $192.47.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on UNF shares. UBS Group increased their price target on UniFirst from $186.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. increased their target price on UniFirst from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, June 27th. StockNews.com cut UniFirst from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Finally, Robert W. Baird increased their price objective on shares of UniFirst from $185.00 to $199.00 and gave the company a “neutral” rating in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $186.00.

UniFirst Stock Up 1.2 %

The company has a fifty day moving average price of $166.81 and a 200-day moving average price of $167.10. The stock has a market capitalization of $3.62 billion, a P/E ratio of 28.19 and a beta of 0.81.

UniFirst (NYSE:UNF) last issued its quarterly earnings data on Wednesday, June 26th. The textile maker reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.31. UniFirst had a return on equity of 6.93% and a net margin of 5.44%. The business had revenue of $603.33 million for the quarter, compared to analysts’ expectations of $600.97 million. As a group, research analysts expect that UniFirst Co. will post 7.83 earnings per share for the current fiscal year.

UniFirst Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.68%. UniFirst’s payout ratio is currently 19.27%.

Insider Activity

In related news, major shareholder Cecelia Levenstein sold 11,000 shares of UniFirst stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $158.73, for a total value of $1,746,030.00. Following the completion of the transaction, the insider now owns 87,558 shares in the company, valued at $13,898,081.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, major shareholder Cecelia Levenstein sold 11,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $158.73, for a total transaction of $1,746,030.00. Following the sale, the insider now owns 87,558 shares in the company, valued at approximately $13,898,081.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David Martin Katz sold 550 shares of UniFirst stock in a transaction on Monday, July 15th. The stock was sold at an average price of $175.00, for a total transaction of $96,250.00. Following the transaction, the vice president now directly owns 6,259 shares of the company’s stock, valued at $1,095,325. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,808 shares of company stock worth $4,535,782. 0.74% of the stock is currently owned by corporate insiders.

Institutional Trading of UniFirst

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC grew its stake in shares of UniFirst by 78.1% during the fourth quarter. Eagle Bay Advisors LLC now owns 171 shares of the textile maker’s stock valued at $31,000 after buying an additional 75 shares during the last quarter. Covestor Ltd grew its position in UniFirst by 69.7% in the 1st quarter. Covestor Ltd now owns 414 shares of the textile maker’s stock valued at $72,000 after acquiring an additional 170 shares during the last quarter. Principal Securities Inc. purchased a new stake in UniFirst in the fourth quarter worth $80,000. Quest Partners LLC bought a new stake in shares of UniFirst during the fourth quarter worth $82,000. Finally, Innealta Capital LLC purchased a new stake in shares of UniFirst during the second quarter valued at $92,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

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.