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

UniFirst (NYSE:UNF) had its target price dropped by equities researchers at UBS Group from $235.00 to $194.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the textile maker’s stock. UBS Group’s target price would suggest a potential downside of 1.19% from the company’s current price.

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

UniFirst Price Performance

Shares of UNF stock opened at $196.35 on Tuesday. The stock’s fifty day moving average price is $214.43 and its 200 day moving average price is $199.07. UniFirst has a 1-year low of $149.58 and a 1-year high of $243.70. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 25.11 and a beta of 0.89.

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

Insider Buying and Selling 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 transaction of $274,024.05. Following the completion of the transaction, the vice president now owns 6,455 shares of the company’s stock, valued at $1,361,682.25. This trade represents a 16.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On UniFirst

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UNF. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of UniFirst by 148.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,454 shares of the textile maker’s stock worth $1,282,000 after buying an additional 3,860 shares during the last quarter. Intech Investment Management LLC boosted its position in UniFirst by 97.8% in the 3rd quarter. Intech Investment Management LLC now owns 2,860 shares of the textile maker’s stock worth $568,000 after purchasing an additional 1,414 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of UniFirst by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 229,749 shares of the textile maker’s stock worth $45,640,000 after purchasing an additional 8,587 shares during the period. Citigroup Inc. increased its holdings in shares of UniFirst by 81.9% during the 3rd quarter. Citigroup Inc. now owns 22,031 shares of the textile maker’s stock valued at $4,376,000 after purchasing an additional 9,918 shares in the last quarter. Finally, Cerity Partners LLC acquired a new position in shares of UniFirst in the 3rd quarter valued at $10,270,000. 78.17% of the stock is 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.