UniFirst (UNF) Hits New 1-Year Low at $140.87

UniFirst Corp (NYSE:UNF)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $140.87 and last traded at $143.28, with a volume of 1010 shares changing hands. The stock had previously closed at $146.09.

A number of research firms have recently issued reports on UNF. Zacks Investment Research lowered UniFirst from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. ValuEngine lowered UniFirst from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Finally, Robert W. Baird set a $170.00 price target on UniFirst and gave the company a “buy” rating in a research report on Thursday, October 18th.

The stock has a market cap of $2.80 billion, a PE ratio of 19.26 and a beta of 0.77.



UniFirst (NYSE:UNF) last posted its quarterly earnings results on Wednesday, October 17th. The textile maker reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.42. The business had revenue of $434.10 million during the quarter, compared to analyst estimates of $421.45 million. UniFirst had a return on equity of 8.54% and a net margin of 9.33%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.44 earnings per share. On average, equities research analysts predict that UniFirst Corp will post 7.01 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Friday, December 7th will be given a $0.1125 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 0.31%. UniFirst’s dividend payout ratio (DPR) is presently 6.04%.

In other news, major shareholder The Ronald D. Croatti Trust – 1 sold 2,200 shares of the company’s stock in a transaction that occurred on Wednesday, October 17th. The stock was sold at an average price of $152.65, for a total value of $335,830.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 6,600 shares of company stock valued at $1,067,110 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Zacks Investment Management purchased a new position in UniFirst in the second quarter worth approximately $2,736,000. WINTON GROUP Ltd boosted its position in shares of UniFirst by 1,127.6% during the second quarter. WINTON GROUP Ltd now owns 40,436 shares of the textile maker’s stock worth $7,153,000 after buying an additional 37,142 shares during the period. GAM Holding AG boosted its position in shares of UniFirst by 110.4% during the second quarter. GAM Holding AG now owns 5,587 shares of the textile maker’s stock worth $988,000 after buying an additional 2,932 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of UniFirst during the third quarter worth $9,611,000. Finally, Bessemer Group Inc. boosted its position in shares of UniFirst by 34.1% during the third quarter. Bessemer Group Inc. now owns 11,400 shares of the textile maker’s stock worth $1,980,000 after buying an additional 2,900 shares during the period. Institutional investors own 76.48% of the company’s stock.

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About UniFirst (NYSE:UNF)

UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Canada, and Europe. It operates through US Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. 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, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.

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