UniFirst (NYSE:UNF) Given New $197.00 Price Target at Robert W. Baird

UniFirst (NYSE:UNF) had its price objective decreased by Robert W. Baird from $218.00 to $197.00 in a report released on Thursday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the textile maker’s stock.

A number of other analysts have also recently weighed in on UNF. UBS Group cut their price objective on shares of UniFirst from $235.00 to $194.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. StockNews.com cut shares of UniFirst from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th.

UniFirst Trading Down 2.9 %

Shares of UNF stock opened at $171.94 on Thursday. The company has a market cap of $3.19 billion, a P/E ratio of 21.99 and a beta of 0.89. The firm has a fifty day moving average price of $206.02 and a 200 day moving average price of $198.29. UniFirst has a 12 month low of $149.58 and a 12 month high of $243.70.

UniFirst (NYSE:UNF) last released its quarterly earnings data on Wednesday, April 2nd. The textile maker reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.03). UniFirst had a return on equity of 7.40% and a net margin of 6.00%. The business had revenue of $602.20 million for the quarter, compared to analyst estimates of $602.81 million. During the same period in the prior year, the company posted $1.09 earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that UniFirst will post 7.71 EPS for the current year.

UniFirst Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend was Friday, March 7th. UniFirst’s dividend payout ratio is currently 17.90%.

Insider Transactions at UniFirst

In related 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 completion of the sale, the vice president now owns 6,455 shares in the company, valued at $1,361,682.25. This represents a 16.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. FMR LLC grew its holdings in shares of UniFirst by 3.1% during the third quarter. FMR LLC now owns 1,936 shares of the textile maker’s stock worth $385,000 after buying an additional 58 shares during the last quarter. Verition Fund Management LLC acquired a new stake in UniFirst during the 3rd quarter worth approximately $219,000. HighTower Advisors LLC grew its stake in shares of UniFirst by 1.9% in the 3rd quarter. HighTower Advisors LLC now owns 7,069 shares of the textile maker’s stock valued at $1,401,000 after purchasing an additional 129 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of UniFirst by 173.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 47,968 shares of the textile maker’s stock valued at $9,529,000 after purchasing an additional 30,458 shares during the period. Finally, IHT Wealth Management LLC purchased a new stake in shares of UniFirst during the third quarter worth approximately $239,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

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.