UniFirst (NYSE:UNF) Given New $235.00 Price Target at UBS Group

UniFirst (NYSE:UNF - Get Free Report) had its price objective increased by stock analysts at UBS Group from $190.00 to $235.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the textile maker's stock. UBS Group's target price indicates a potential upside of 9.23% from the stock's current price.

UNF has been the subject of several other reports. StockNews.com downgraded UniFirst from a "strong-buy" rating to a "buy" rating in a research report on Wednesday. Robert W. Baird increased their price target on UniFirst from $199.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, October 24th. One 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. According to data from MarketBeat.com, UniFirst presently has an average rating of "Hold" and an average price target of $197.50.

UniFirst Stock Performance

UNF stock traded up $10.46 during midday trading on Thursday, hitting $215.15. 601,364 shares of the company's stock were exchanged, compared to its average volume of 392,733. UniFirst has a one year low of $149.58 and a one year high of $243.70. The stock's fifty day moving average price is $190.78 and its 200-day moving average price is $186.71. The company has a market cap of $4.00 billion, a PE ratio of 27.69 and a beta of 0.87.

UniFirst (NYSE:UNF - Get Free Report) last released its quarterly 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. The firm had revenue of $604.91 million for the quarter, compared to the consensus estimate of $606.60 million. UniFirst had a return on equity of 7.47% and a net margin of 5.99%. The company's revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $2.26 EPS. On average, analysts expect that UniFirst will post 7.68 EPS for the current year.

Insider Activity at UniFirst

In other news, VP David Martin Katz sold 587 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $193.08, for a total transaction of $113,337.96. Following the completion of the sale, the vice president now owns 5,625 shares of the company's stock, valued at $1,086,075. The trade was a 9.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder The Ronald D. Croatti Trust - 1 sold 9,500 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $190.97, for a total transaction of $1,814,215.00. Following the sale, the insider now owns 17,390 shares in the company, valued at approximately $3,320,968.30. The trade was a 35.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,294 shares of company stock worth $2,546,632 in the last three months. 0.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in shares of UniFirst by 60.5% in the 3rd quarter. GAMMA Investing LLC now owns 183 shares of the textile maker's stock worth $36,000 after purchasing an additional 69 shares during the period. Quarry LP grew its holdings in UniFirst by 1,627.3% during the second quarter. Quarry LP now owns 190 shares of the textile maker's stock worth $33,000 after acquiring an additional 179 shares during the period. First Horizon Advisors Inc. increased its holdings in UniFirst by 16.5% in the third quarter. First Horizon Advisors Inc. now owns 367 shares of the textile maker's stock valued at $73,000 after buying an additional 52 shares in the last quarter. TD Private Client Wealth LLC raised its stake in shares of UniFirst by 291.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 466 shares of the textile maker's stock worth $93,000 after buying an additional 347 shares during the period. Finally, Eastern Bank acquired a new stake in UniFirst in the 3rd quarter worth about $109,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

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.