UniFirst (NYSE:UNF) Lowered to Buy Rating by StockNews.com

by · The Markets Daily

StockNews.com downgraded shares of UniFirst (NYSE:UNF – Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday.

Separately, Robert W. Baird raised their price target on UniFirst from $199.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $186.25.

Read Our Latest Research Report on UniFirst

UniFirst Price Performance

UniFirst stock opened at $200.87 on Thursday. UniFirst has a 1-year low of $149.58 and a 1-year high of $208.20. The stock has a market cap of $3.73 billion, a PE ratio of 25.85 and a beta of 0.82. The stock’s fifty day moving average is $192.81 and its two-hundred day moving average is $181.09.

UniFirst Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 6th. This is a boost from UniFirst’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 0.70%. UniFirst’s dividend payout ratio (DPR) is currently 16.99%.

Insider Transactions at UniFirst

In other news, CEO Steven S. Sintros sold 3,207 shares of UniFirst stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.04, for a total transaction of $619,079.28. Following the sale, the chief executive officer now owns 22,571 shares in the company, valued at approximately $4,357,105.84. The trade was a 12.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP David Martin Katz sold 587 shares of UniFirst stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.08, for a total value of $113,337.96. Following the sale, the vice president now owns 5,625 shares in the company, valued at $1,086,075. This trade represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,294 shares of company stock worth $2,546,632. Corporate insiders own 0.74% of the company’s stock.

Institutional Trading of UniFirst

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP raised its stake in UniFirst by 1,627.3% during the 2nd quarter. Quarry LP now owns 190 shares of the textile maker’s stock valued at $33,000 after acquiring an additional 179 shares during the last quarter. GAMMA Investing LLC raised its stake in UniFirst by 60.5% during the 3rd quarter. GAMMA Investing LLC now owns 183 shares of the textile maker’s stock valued at $36,000 after acquiring an additional 69 shares during the last quarter. First Horizon Advisors Inc. raised its stake in UniFirst by 16.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 367 shares of the textile maker’s stock valued at $73,000 after acquiring an additional 52 shares during the last quarter. Innealta Capital LLC acquired a new position in UniFirst during the 2nd quarter worth approximately $92,000. Finally, TD Private Client Wealth LLC increased its position in UniFirst by 291.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 466 shares of the textile maker’s stock worth $93,000 after purchasing an additional 347 shares during the period. 78.17% of the stock is owned by hedge funds and other institutional investors.

UniFirst Company Profile

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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.

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