Unifirst Corporation (NYSE:UNF) Sees Large Increase in Short Interest

Unifirst Corporation (NYSE:UNF) was the target of a significant increase in short interest in the month of August. As of August 15th, there was short interest totaling 194,300 shares, an increase of 39.6% from the July 31st total of 139,200 shares. Based on an average trading volume of 119,800 shares, the days-to-cover ratio is currently 1.6 days. Approximately 1.3% of the company’s shares are short sold. Approximately 1.3% of the company’s shares are short sold. Based on an average trading volume of 119,800 shares, the days-to-cover ratio is currently 1.6 days.

Unifirst Stock Down 0.9%

Shares of UNF opened at $172.93 on Wednesday. Unifirst has a 52-week low of $156.34 and a 52-week high of $243.70. The firm’s fifty day moving average is $174.55 and its two-hundred day moving average is $182.25. The stock has a market cap of $3.21 billion, a PE ratio of 21.24 and a beta of 0.86.

Unifirst (NYSE:UNF) last announced its earnings results on Wednesday, July 2nd. The textile maker reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.04. Unifirst had a net margin of 6.18% and a return on equity of 7.35%. The company had revenue of $610.78 million for the quarter, compared to analysts’ expectations of $614.50 million. During the same quarter in the previous year, the company posted $2.20 EPS. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. Unifirst has set its FY 2025 guidance at 7.600-8.00 EPS. As a group, research analysts anticipate that Unifirst will post 7.71 earnings per share for the current year.

Unifirst Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 5th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Unifirst’s payout ratio is presently 17.20%.

Analyst Ratings Changes

UNF has been the topic of several recent analyst reports. Robert W. Baird set a $197.00 target price on shares of Unifirst in a research note on Monday, June 30th. JPMorgan Chase & Co. started coverage on shares of Unifirst in a research report on Monday, July 14th. They set an “underweight” rating and a $175.00 target price on the stock. Barclays set a $152.00 price target on shares of Unifirst and gave the company an “underweight” rating in a report on Monday, June 30th. Finally, UBS Group lowered their price target on shares of Unifirst from $196.00 to $194.00 and set a “neutral” rating on the stock in a report on Monday, June 30th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Unifirst presently has a consensus rating of “Reduce” and an average price target of $179.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp lifted its position in Unifirst by 85,558.5% in the first quarter. Jones Financial Companies Lllp now owns 307,514 shares of the textile maker’s stock valued at $53,507,000 after buying an additional 307,155 shares during the last quarter. Norges Bank purchased a new stake in Unifirst during the second quarter worth about $35,684,000. Voss Capital LP purchased a new stake in Unifirst during the first quarter worth about $28,529,000. T. Rowe Price Investment Management Inc. increased its stake in shares of Unifirst by 353.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 171,346 shares of the textile maker’s stock worth $29,815,000 after buying an additional 133,588 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Unifirst by 90.0% during the second quarter. First Trust Advisors LP now owns 191,539 shares of the textile maker’s stock worth $36,051,000 after buying an additional 90,751 shares during the period. Institutional investors and hedge funds 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.