UniFirst (NYSE:UNF) Sees Unusually-High Trading Volume – Time to Buy?

UniFirst Co. (NYSE:UNF) shares saw an uptick in trading volume on Wednesday . 93,164 shares changed hands during mid-day trading, an increase of 3% from the previous session’s volume of 90,528 shares.The stock last traded at $170.90 and had previously closed at $169.41.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on UNF. StockNews.com cut shares of UniFirst from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. UBS Group dropped their price objective on shares of UniFirst from $235.00 to $194.00 and set a “neutral” rating for the company in a research note on Tuesday.

UniFirst Trading Up 0.7 %

The stock’s 50-day moving average price is $213.31 and its 200-day moving average price is $198.98. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 21.81 and a beta of 0.89.

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

UniFirst Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, March 7th. This represents a $1.40 annualized dividend and a yield of 0.82%. UniFirst’s dividend payout ratio is currently 17.90%.

Insider Activity

In other UniFirst news, VP David Martin Katz sold 1,299 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $210.95, for a total transaction of $274,024.05. Following the sale, the vice president now directly owns 6,455 shares of the company’s stock, valued at $1,361,682.25. This represents a 16.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.86% of the company’s stock.

Institutional Trading of UniFirst

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its stake in UniFirst by 8.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,827 shares of the textile maker’s stock worth $313,000 after acquiring an additional 150 shares during the last quarter. Pullen Investment Management LLC raised its stake in UniFirst by 45.7% in the fourth quarter. Pullen Investment Management LLC now owns 4,655 shares of the textile maker’s stock valued at $796,000 after purchasing an additional 1,460 shares in the last quarter. Orion Capital Management LLC bought a new stake in UniFirst during the fourth quarter valued at approximately $104,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in UniFirst by 22.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,588 shares of the textile maker’s stock worth $5,747,000 after buying an additional 6,078 shares in the last quarter. Finally, Ulysses Management LLC purchased a new stake in shares of UniFirst during the 4th quarter valued at $8,318,000. Institutional investors own 78.17% of the company’s stock.

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. 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.