UBS Group Issues Pessimistic Forecast for UniFirst (NYSE:UNF) Stock Price

UniFirst (NYSE:UNF - Get Free Report) had its target price decreased by UBS Group from $235.00 to $194.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the textile maker's stock. UBS Group's price target indicates a potential upside of 11.64% from the stock's previous close.

Separately, StockNews.com lowered shares of UniFirst from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, January 8th.

UniFirst Trading Down 2.4 %

UNF traded down $4.24 during midday trading on Tuesday, hitting $173.77. 160,086 shares of the company were exchanged, compared to its average volume of 97,363. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 22.22 and a beta of 0.89. The company's 50 day simple moving average is $210.10 and its 200 day simple moving average is $198.70. UniFirst has a 1-year low of $149.58 and a 1-year high of $243.70.

UniFirst (NYSE:UNF - Get Free Report) last announced its quarterly earnings results on Wednesday, January 8th. The textile maker reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.09. UniFirst had a return on equity of 7.40% and a net margin of 6.00%. The company had revenue of $604.91 million during the quarter, compared to analysts' expectations of $606.60 million. During the same period last year, the business earned $2.26 earnings per share. UniFirst's quarterly revenue was up 1.9% on a year-over-year basis. On average, equities analysts anticipate that UniFirst will post 7.71 EPS for the current year.

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Insider Activity at UniFirst

In other UniFirst news, VP David Martin Katz sold 1,299 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $210.95, for a total transaction of $274,024.05. Following the transaction, the vice president now directly owns 6,455 shares of the company's stock, valued at $1,361,682.25. This trade represents a 16.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.86% of the stock is owned by corporate insiders.

Institutional Trading of UniFirst

A number of institutional investors and hedge funds have recently modified their holdings of UNF. Independence Bank of Kentucky acquired a new stake in UniFirst in the 4th quarter worth about $34,000. Blue Trust Inc. boosted its stake in shares of UniFirst by 1,105.3% in the fourth quarter. Blue Trust Inc. now owns 229 shares of the textile maker's stock worth $39,000 after acquiring an additional 210 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of UniFirst by 252.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker's stock worth $59,000 after acquiring an additional 247 shares during the last quarter. Jones Financial Companies Lllp raised its stake in UniFirst by 187.2% in the 4th quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker's stock valued at $61,000 after purchasing an additional 234 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in UniFirst by 811.5% in the 4th quarter. Sterling Capital Management LLC now owns 474 shares of the textile maker's stock valued at $81,000 after purchasing an additional 422 shares in the last quarter. Hedge funds and other institutional investors 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.