UniFirst (NYSE:UNF) Upgraded to “Buy” by StockNews.com

UniFirst (NYSE:UNF) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

UNF has been the topic of a number of other research reports. UBS Group increased their price target on UniFirst from $184.00 to $186.00 and gave the company a “neutral” rating in a research note on Thursday, March 28th. Barclays increased their price target on UniFirst from $160.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $185.00 price target on shares of UniFirst in a research note on Thursday, January 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, UniFirst has a consensus rating of “Hold” and an average target price of $177.75.

UniFirst Stock Up 1.7 %

NYSE:UNF traded up $2.60 during trading hours on Friday, hitting $158.51. 127,159 shares of the stock were exchanged, compared to its average volume of 88,088. The company’s 50 day moving average is $167.70 and its two-hundred day moving average is $169.57. UniFirst has a twelve month low of $150.50 and a twelve month high of $187.22. The company has a market capitalization of $2.96 billion, a P/E ratio of 25.94 and a beta of 0.82.

UniFirst (NYSE:UNF) last posted its quarterly earnings data on Wednesday, March 27th. The textile maker reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by ($0.19). UniFirst had a return on equity of 6.19% and a net margin of 4.92%. The firm had revenue of $590.71 million for the quarter, compared to analyst estimates of $587.56 million. On average, equities research analysts expect that UniFirst will post 7.48 EPS for the current year.

Insider Buying and Selling

In related news, EVP William Masters Ross sold 2,282 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $175.27, for a total transaction of $399,966.14. Following the sale, the executive vice president now owns 4,034 shares of the company’s stock, valued at approximately $707,039.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.74% of the stock is currently owned by company insiders.

Institutional Trading of UniFirst

Several hedge funds have recently added to or reduced their stakes in UNF. Citigroup Inc. raised its stake in UniFirst by 4.1% during the 1st quarter. Citigroup Inc. now owns 16,104 shares of the textile maker’s stock worth $2,967,000 after buying an additional 635 shares during the period. MetLife Investment Management LLC increased its holdings in UniFirst by 52.7% during the 1st quarter. MetLife Investment Management LLC now owns 7,984 shares of the textile maker’s stock worth $1,471,000 after purchasing an additional 2,755 shares in the last quarter. Rhumbline Advisers increased its holdings in UniFirst by 9.8% during the 1st quarter. Rhumbline Advisers now owns 50,022 shares of the textile maker’s stock worth $9,218,000 after purchasing an additional 4,452 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in UniFirst by 13.9% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,111 shares of the textile maker’s stock worth $2,416,000 after purchasing an additional 1,603 shares in the last quarter. Finally, Yousif Capital Management LLC increased its holdings in UniFirst by 1.8% during the 1st quarter. Yousif Capital Management LLC now owns 13,967 shares of the textile maker’s stock worth $2,574,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 78.17% 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. 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.