Unifirst Corporation (NYSE:UNF) Receives $179.50 Consensus PT from Brokerages

Unifirst Corporation (NYSE:UNF) has received an average recommendation of “Reduce” from the five brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $179.50.

Several analysts have issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Unifirst in a research note on Monday, July 14th. They set an “underweight” rating and a $175.00 target price on the stock. Robert W. Baird set a $197.00 price target on Unifirst in a research report on Monday, June 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Unifirst in a research note on Saturday, September 27th. Barclays set a $152.00 target price on Unifirst and gave the company an “underweight” rating in a research note on Monday, June 30th. Finally, UBS Group reduced their price target on shares of Unifirst from $196.00 to $194.00 and set a “neutral” rating for the company in a research report on Monday, June 30th.

Unifirst Price Performance

Unifirst stock opened at $169.47 on Friday. The company has a market cap of $3.14 billion, a P/E ratio of 20.82 and a beta of 0.86. Unifirst has a fifty-two week low of $156.34 and a fifty-two week high of $243.70. The firm’s 50 day simple moving average is $172.75 and its 200-day simple moving average is $177.26.

Unifirst Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 5th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, September 5th. Unifirst’s payout ratio is currently 17.20%.

Institutional Trading of Unifirst

Institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp increased its position in Unifirst by 85,558.5% in the 1st quarter. Jones Financial Companies Lllp now owns 307,514 shares of the textile maker’s stock worth $53,507,000 after purchasing an additional 307,155 shares during the last quarter. Norges Bank bought a new stake in shares of Unifirst in the 2nd quarter valued at approximately $35,684,000. Voss Capital LP acquired a new position in Unifirst in the first quarter worth approximately $28,529,000. T. Rowe Price Investment Management Inc. raised its position in 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 valued at $29,815,000 after acquiring an additional 133,588 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Unifirst by 90.0% in the second quarter. First Trust Advisors LP now owns 191,539 shares of the textile maker’s stock valued at $36,051,000 after acquiring an additional 90,751 shares during the last quarter. 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.