UniFirst (NYSE:UNF) Upgraded at Zacks Research

UniFirst (NYSE:UNF) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday, Zacks reports.

Several other analysts have also recently commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of UniFirst in a report on Tuesday, October 6th. UBS Group set a $262.00 price objective on shares of UniFirst in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, UniFirst currently has an average rating of “Moderate Buy” and a consensus target price of $246.67.

UniFirst Price Performance

Shares of NYSE UNF opened at $281.39 on Thursday. The company has a 50-day simple moving average of $269.52 and a 200-day simple moving average of $270.03. The company has a market cap of $5.09 billion, a PE ratio of 46.82 and a beta of 0.60. UniFirst has a 12 month low of $147.66 and a 12 month high of $306.67.

UniFirst (NYSE:UNF) last announced its quarterly earnings data on Wednesday, October 21st. The textile maker reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.14). The business had revenue of $645.01 million during the quarter, compared to analysts’ expectations of $634.40 million. UniFirst had a net margin of 4.34% and a return on equity of 6.65%. UniFirst’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.23 EPS. On average, analysts anticipate that UniFirst will post 8.52 EPS for the current year.

Institutional Trading of UniFirst

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of UniFirst in the 2nd quarter worth $580,008,000. Bank of New York Mellon Corp purchased a new stake in UniFirst during the second quarter valued at about $30,584,000. Empyrean Capital Partners LP purchased a new stake in UniFirst during the first quarter valued at about $20,379,000. TimesSquare Capital Management LLC purchased a new stake in UniFirst during the second quarter valued at about $17,165,000. Finally, Caxton Associates LLP acquired a new stake in UniFirst during the first quarter worth about $15,161,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

UniFirst Company Profile

UniFirst Corporation (NYSE: UNF) provides workplace uniforms, workwear rental, and textile services to businesses and organizations. Its offerings include uniform rental and laundering, work garments, protective apparel, floor mats, restroom supplies, first-aid products, and other workplace service programs.

The company also provides specialized apparel and services for industries with particular cleanliness or safety requirements, including healthcare, manufacturing, food processing, and cleanroom environments.