UniFirst (NYSE:UNF) Price Target Lowered to $197.00 at Robert W. Baird

UniFirst (NYSE:UNF) had its price objective lowered by research analysts at Robert W. Baird from $218.00 to $197.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the textile maker’s stock. Robert W. Baird’s price objective would indicate a potential upside of 11.61% from the company’s current price.

Several other brokerages have also weighed in on UNF. UBS Group cut their price objective on shares of UniFirst from $235.00 to $194.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. StockNews.com downgraded shares of UniFirst from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th.

UniFirst Stock Up 0.7 %

UNF stock opened at $176.50 on Thursday. UniFirst has a 12-month low of $149.58 and a 12-month high of $243.70. The company has a 50 day moving average of $207.03 and a two-hundred day moving average of $198.47. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 22.57 and a beta of 0.89.

UniFirst (NYSE:UNF) last issued its earnings results on Wednesday, April 2nd. The textile maker reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.03). UniFirst had a net margin of 6.00% and a return on equity of 7.40%. The firm had revenue of $602.20 million during the quarter, compared to analysts’ expectations of $602.81 million. During the same quarter last year, the firm earned $1.09 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, research analysts anticipate that UniFirst will post 7.71 EPS for the current year.

Insider Transactions at UniFirst

In related news, VP David Martin Katz sold 1,299 shares of the firm’s 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 transaction, the vice president now directly owns 6,455 shares in the company, valued at approximately $1,361,682.25. This trade represents a 16.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On UniFirst

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in UniFirst by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 1,708,242 shares of the textile maker’s stock valued at $292,263,000 after purchasing an additional 6,393 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of UniFirst by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 763,689 shares of the textile maker’s stock worth $130,660,000 after buying an additional 15,517 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of UniFirst by 5.5% in the fourth quarter. JPMorgan Chase & Co. now owns 387,326 shares of the textile maker’s stock valued at $66,268,000 after acquiring an additional 20,056 shares during the period. Copeland Capital Management LLC grew its stake in shares of UniFirst by 9.9% in the fourth quarter. Copeland Capital Management LLC now owns 365,047 shares of the textile maker’s stock worth $62,456,000 after acquiring an additional 32,860 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in UniFirst by 1.2% during the third quarter. Geode Capital Management LLC now owns 349,298 shares of the textile maker’s stock worth $69,401,000 after acquiring an additional 4,136 shares during the period. 78.17% of the stock is currently owned by institutional investors.

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.