UniFirst (NYSE:UNF) Issues Earnings Results

UniFirst (NYSE:UNF) posted its quarterly earnings data on Wednesday. The textile maker reported $2.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.96 by $0.44, Briefing.com reports. UniFirst had a return on equity of 9.67% and a net margin of 9.21%. The company had revenue of $479.62 million during the quarter, compared to analysts’ expectations of $471.41 million. During the same quarter in the previous year, the business earned $2.06 EPS. UniFirst’s revenue was up 10.5% compared to the same quarter last year. UniFirst updated its FY20 guidance to $7.47-7.92 EPS.

Shares of UniFirst stock traded down $5.50 during midday trading on Thursday, reaching $202.62. 2,399 shares of the company’s stock traded hands, compared to its average volume of 88,822. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 27.36 and a beta of 0.73. UniFirst has a 52 week low of $132.38 and a 52 week high of $208.48. The company’s 50 day simple moving average is $194.16 and its 200 day simple moving average is $180.25.

A number of research analysts have recently weighed in on the company. Zacks Investment Research raised UniFirst from a “hold” rating to a “buy” rating and set a $218.00 price objective on the stock in a report on Saturday, October 19th. JPMorgan Chase & Co. boosted their price target on UniFirst from $155.00 to $183.00 and gave the company a “neutral” rating in a research report on Thursday, June 27th. Finally, ValuEngine cut UniFirst from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th.

In other UniFirst news, major shareholder Cecelia Levenstein sold 11,592 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $196.66, for a total value of $2,279,682.72. Following the transaction, the insider now directly owns 100,650 shares in the company, valued at $19,793,829. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders have sold 29,500 shares of company stock worth $5,846,211. Insiders own 1.00% of the company’s stock.

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. 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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Earnings History for UniFirst (NYSE:UNF)

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