UniFirst (NYSE:UNF) Sets New 12-Month High - Still a Buy?

UniFirst Co. (NYSE:UNF - Get Free Report) hit a new 52-week high during trading on Friday . The company traded as high as $200.44 and last traded at $200.00, with a volume of 10317 shares changing hands. The stock had previously closed at $195.74.

Analysts Set New Price Targets

A number of equities analysts have recently commented on UNF shares. StockNews.com upgraded UniFirst from a "hold" rating to a "buy" rating in a research report on Monday, August 12th. Robert W. Baird increased their price objective on UniFirst from $199.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, October 24th. One research 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $186.25.

UniFirst Trading Up 2.5 %

The company has a market capitalization of $3.74 billion, a PE ratio of 25.83 and a beta of 0.82. The stock has a fifty day moving average of $188.90 and a two-hundred day moving average of $177.41.

UniFirst Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.70%. This is a boost from UniFirst's previous quarterly dividend of $0.33. UniFirst's payout ratio is currently 16.99%.

Institutional Trading of UniFirst

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of UniFirst by 60.5% during the 3rd quarter. GAMMA Investing LLC now owns 183 shares of the textile maker's stock valued at $36,000 after buying an additional 69 shares in the last quarter. Quarry LP increased its stake in UniFirst by 1,627.3% in the second quarter. Quarry LP now owns 190 shares of the textile maker's stock worth $33,000 after purchasing an additional 179 shares during the period. First Horizon Advisors Inc. lifted its holdings in UniFirst by 16.5% during the 3rd 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. Covestor Ltd increased its holdings in UniFirst by 69.7% during the 1st quarter. Covestor Ltd now owns 414 shares of the textile maker's stock worth $72,000 after purchasing an additional 170 shares during the period. Finally, Innealta Capital LLC bought a new stake in shares of UniFirst in the second quarter valued at about $92,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

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.