UniFirst (NYSE:UNF) Stock Price Down 5.2% - Should You Sell?

UniFirst Co. (NYSE:UNF - Get Free Report)'s stock price dropped 5.2% on Wednesday . The stock traded as low as $180.00 and last traded at $180.00. Approximately 9,302 shares traded hands during trading, a decline of 89% from the average daily volume of 85,464 shares. The stock had previously closed at $189.93.

Analysts Set New Price Targets

A number of analysts recently weighed in on UNF shares. JPMorgan Chase & Co. increased their price target on shares of UniFirst from $170.00 to $175.00 and gave the stock an "underweight" rating in a research note on Thursday, June 27th. StockNews.com upgraded shares of UniFirst from a "hold" rating to a "buy" rating in a report on Monday, August 12th. UBS Group upped their price objective on UniFirst from $186.00 to $190.00 and gave the company a "neutral" rating in a research report on Thursday, June 27th. Finally, Robert W. Baird raised their target price on shares of UniFirst from $185.00 to $199.00 and gave the stock a "neutral" rating in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $186.00.

UniFirst Stock Down 3.1 %

The firm has a 50 day moving average price of $188.67 and a two-hundred day moving average price of $175.11. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 26.86 and a beta of 0.81.

Insiders Place Their Bets

In other UniFirst news, Director Michael Iandoli sold 682 shares of UniFirst stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $194.30, for a total value of $132,512.60. Following the completion of the transaction, the director now directly owns 4,744 shares in the company, valued at $921,759.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.74% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its position in UniFirst by 60.5% in the third quarter. GAMMA Investing LLC now owns 183 shares of the textile maker's stock worth $36,000 after acquiring an additional 69 shares in the last quarter. Arizona State Retirement System boosted its position in UniFirst by 1.9% during the second quarter. Arizona State Retirement System now owns 4,231 shares of the textile maker's stock valued at $726,000 after purchasing an additional 78 shares during the last quarter. Pullen Investment Management LLC grew its stake in shares of UniFirst by 2.9% in the 2nd quarter. Pullen Investment Management LLC now owns 2,806 shares of the textile maker's stock valued at $481,000 after buying an additional 79 shares in the last quarter. Oak Family Advisors LLC increased its stake in shares of UniFirst by 3.3% during the 2nd quarter. Oak Family Advisors LLC now owns 2,915 shares of the textile maker's stock worth $500,000 after purchasing an additional 93 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in UniFirst by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 7,600 shares of the textile maker's stock worth $1,304,000 after buying an additional 100 shares during the last quarter. 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.