UBS Group Cuts UniFirst (NYSE:UNF) Price Target to $194.00

UniFirst (NYSE:UNF) had its target price lowered by UBS Group from $235.00 to $194.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the textile maker’s stock.

Separately, StockNews.com cut shares of UniFirst from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th.

UniFirst Stock Performance

NYSE:UNF opened at $178.41 on Tuesday. The firm’s fifty day moving average is $211.08 and its two-hundred day moving average is $198.63. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 22.81 and a beta of 0.89. UniFirst has a one year low of $149.58 and a one year high of $243.70.

UniFirst (NYSE:UNF) last issued its quarterly earnings data on Wednesday, January 8th. The textile maker reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.09. The business had revenue of $604.91 million during the quarter, compared to analysts’ expectations of $606.60 million. UniFirst had a return on equity of 7.40% and a net margin of 6.00%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.26 EPS. As a group, equities research analysts predict that UniFirst will post 7.71 earnings per share for the current fiscal year.

UniFirst Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Friday, March 7th. UniFirst’s dividend payout ratio (DPR) is presently 17.90%.

Insider Buying and Selling

In related news, VP David Martin Katz sold 1,299 shares of UniFirst stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $210.95, for a total value of $274,024.05. Following the sale, the vice president now owns 6,455 shares of the company’s stock, valued at approximately $1,361,682.25. This trade represents a 16.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.86% of the stock is currently owned by insiders.

Hedge Funds Weigh In On UniFirst

A number of large investors have recently added to or reduced their stakes in UNF. SageView Advisory Group LLC increased its stake in shares of UniFirst by 3.1% during the fourth quarter. SageView Advisory Group LLC now owns 1,580 shares of the textile maker’s stock worth $270,000 after purchasing an additional 48 shares in the last quarter. FMR LLC boosted its holdings in UniFirst by 3.1% in the 3rd quarter. FMR LLC now owns 1,936 shares of the textile maker’s stock worth $385,000 after buying an additional 58 shares during the last quarter. Principal Securities Inc. increased its stake in UniFirst by 10.1% during the 4th quarter. Principal Securities Inc. now owns 740 shares of the textile maker’s stock worth $127,000 after buying an additional 68 shares in the last quarter. Cetera Investment Advisers increased its stake in UniFirst by 3.1% during the 4th quarter. Cetera Investment Advisers now owns 2,231 shares of the textile maker’s stock worth $382,000 after buying an additional 68 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its holdings in shares of UniFirst by 0.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 8,140 shares of the textile maker’s stock valued at $1,393,000 after acquiring an additional 73 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

About UniFirst

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.