Brokerages expect that UniFirst Corp (NYSE:UNF) will announce earnings of $1.96 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for UniFirst’s earnings. The highest EPS estimate is $2.11 and the lowest is $1.77. UniFirst reported earnings per share of $2.06 in the same quarter last year, which suggests a negative year-over-year growth rate of 4.9%. The firm is expected to announce its next quarterly earnings results before the market opens on Wednesday, October 23rd.
According to Zacks, analysts expect that UniFirst will report full-year earnings of $8.85 per share for the current year, with EPS estimates ranging from $8.69 to $9.03. For the next year, analysts anticipate that the firm will report earnings of $8.23 per share, with EPS estimates ranging from $7.66 to $8.58. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow UniFirst.
A number of research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on UniFirst from $155.00 to $183.00 and gave the stock a “neutral” rating in a report on Thursday, June 27th. Zacks Investment Research downgraded UniFirst from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 29th. Finally, ValuEngine downgraded UniFirst from a “buy” rating to a “hold” rating in a research note on Wednesday, September 11th.
In related news, major shareholder Cecelia Levenstein sold 11,592 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $196.66, for a total value of $2,279,682.72. Following the sale, the insider now owns 100,650 shares in the company, valued at approximately $19,793,829. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 29,500 shares of company stock worth $5,846,211 in the last 90 days. 1.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. First Hawaiian Bank lifted its position in UniFirst by 2.9% in the 3rd quarter. First Hawaiian Bank now owns 1,950 shares of the textile maker’s stock valued at $380,000 after acquiring an additional 55 shares in the last quarter. State of Alaska Department of Revenue lifted its position in UniFirst by 126.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 11,851 shares of the textile maker’s stock valued at $2,312,000 after acquiring an additional 6,629 shares in the last quarter. Macquarie Group Ltd. lifted its position in UniFirst by 0.6% in the 2nd quarter. Macquarie Group Ltd. now owns 413,479 shares of the textile maker’s stock valued at $77,970,000 after acquiring an additional 2,545 shares in the last quarter. Dalton Greiner Hartman Maher & Co. lifted its position in UniFirst by 1,305.1% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 105,386 shares of the textile maker’s stock valued at $19,873,000 after acquiring an additional 97,886 shares in the last quarter. Finally, Toronto Dominion Bank bought a new position in UniFirst in the 2nd quarter valued at approximately $415,000. 77.40% of the stock is currently owned by institutional investors and hedge funds.
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. Rental and Cleaning, 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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