UniFirst (NYSE:UNF) Upgraded by StockNews.com to “Strong-Buy” Rating

StockNews.com upgraded shares of UniFirst (NYSE:UNF) from a buy rating to a strong-buy rating in a research report released on Tuesday morning.

Separately, Robert W. Baird upped their price objective on shares of UniFirst from $199.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, UniFirst has an average rating of “Hold” and an average target price of $186.25.

UniFirst Stock Down 0.4 %

Shares of UniFirst stock opened at $176.61 on Tuesday. UniFirst has a 12-month low of $149.58 and a 12-month high of $208.20. The firm has a market capitalization of $3.28 billion, a PE ratio of 22.73 and a beta of 0.84. The stock’s fifty day moving average is $191.56 and its 200-day moving average is $184.64.

UniFirst Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued a dividend of $0.35 per share. This is an increase from UniFirst’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.79%. UniFirst’s payout ratio is currently 18.02%.

Insider Activity at UniFirst

In other UniFirst news, CEO Steven S. Sintros sold 3,207 shares of UniFirst stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $193.04, for a total transaction of $619,079.28. Following the completion of the sale, the chief executive officer now owns 22,571 shares of the company’s stock, valued at $4,357,105.84. This trade represents a 12.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder The Ronald D. Croatti Trust – 1 sold 9,500 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $190.97, for a total transaction of $1,814,215.00. Following the transaction, the insider now owns 17,390 shares in the company, valued at approximately $3,320,968.30. This represents a 35.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,294 shares of company stock valued at $2,546,632. Company insiders own 0.86% of the company’s stock.

Institutional Trading of UniFirst

A number of institutional investors have recently bought and sold shares of the company. Cerity Partners LLC acquired a new position in UniFirst in the 3rd quarter worth about $10,270,000. Victory Capital Management Inc. increased its holdings in UniFirst by 8.9% in the second quarter. Victory Capital Management Inc. now owns 622,048 shares of the textile maker’s stock worth $106,700,000 after buying an additional 51,088 shares during the last quarter. Copeland Capital Management LLC raised its position in UniFirst by 12.4% during the third quarter. Copeland Capital Management LLC now owns 332,187 shares of the textile maker’s stock valued at $65,989,000 after acquiring an additional 36,651 shares in the last quarter. American Century Companies Inc. lifted its stake in UniFirst by 25.9% in the second quarter. American Century Companies Inc. now owns 173,315 shares of the textile maker’s stock valued at $29,729,000 after acquiring an additional 35,604 shares during the last quarter. Finally, Barclays PLC grew its position in UniFirst by 464.6% in the third quarter. Barclays PLC now owns 41,220 shares of the textile maker’s stock worth $8,188,000 after acquiring an additional 33,919 shares in 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.