UBS Group Issues Positive Forecast for UniFirst (NYSE:UNF) Stock Price

Key Points

• UBS Group raised its price target on UniFirst from $206 to $260 while keeping a "neutral" rating, a target that implies roughly a 1.38% upside to the current share price.
• UniFirst reported quarterly EPS of $1.13, missing estimates by $0.08, while revenue of $622.51M beat expectations and rose 3.4% year-over-year; the stock trades near $256.47 with a $4.64B market cap.
• Analysts remain cautious overall — five Hold ratings and one Sell have produced a MarketBeat consensus of "Reduce" with a $228.25 average price target, though Barclays has separately raised its target to $280.

UniFirst (NYSE:UNF - Get Free Report) had its price objective boosted by research analysts at UBS Group from $206.00 to $260.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the textile maker's stock. UBS Group's price target points to a potential upside of 1.38% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. Robert W. Baird set a $198.00 price target on UniFirst in a research report on Thursday, January 8th. Barclays raised their price target on shares of UniFirst from $250.00 to $280.00 and gave the stock an "equal weight" rating in a report on Thursday, March 12th. Zacks Research raised UniFirst from a "strong sell" rating to a "hold" rating in a research note on Monday, December 22nd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of UniFirst in a research report on Wednesday, January 21st. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, UniFirst presently has a consensus rating of "Reduce" and a consensus price target of $228.25.

UniFirst Stock Up 0.7%

Shares of UNF stock traded up $1.88 on Thursday, reaching $256.47. The company's stock had a trading volume of 133,931 shares, compared to its average volume of 306,537. The company has a market capitalization of $4.64 billion, a P/E ratio of 33.93 and a beta of 0.69. UniFirst has a 12-month low of $147.66 and a 12-month high of $283.77. The stock's 50 day simple moving average is $238.73 and its 200-day simple moving average is $197.08.

UniFirst (NYSE:UNF - Get Free Report) last posted its earnings results on Wednesday, April 1st. The textile maker reported $1.13 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.08). UniFirst had a return on equity of 6.68% and a net margin of 5.70%.The business had revenue of $622.51 million for the quarter, compared to analysts' expectations of $614.91 million. During the same quarter in the previous year, the firm earned $1.31 earnings per share. UniFirst's quarterly revenue was up 3.4% compared to the same quarter last year. Research analysts expect that UniFirst will post 7.71 EPS for the current year.

Insider Activity at UniFirst

In related news, VP David Martin Katz sold 1,464 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $237.54, for a total transaction of $347,758.56. Following the sale, the vice president directly owned 6,461 shares of the company's stock, valued at $1,534,745.94. This trade represents a 18.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.86% of the stock is owned by company insiders.

Institutional Trading of UniFirst

A number of institutional investors have recently made changes to their positions in UNF. Advisors Asset Management Inc. purchased a new stake in UniFirst in the second quarter worth approximately $25,000. Geneos Wealth Management Inc. boosted its stake in shares of UniFirst by 474.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker's stock worth $27,000 after buying an additional 128 shares during the last quarter. Modus Advisors LLC bought a new stake in shares of UniFirst in the fourth quarter worth $28,000. EverSource Wealth Advisors LLC increased its position in UniFirst by 378.1% during the second quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker's stock valued at $29,000 after acquiring an additional 121 shares during the last quarter. Finally, Danske Bank A S bought a new position in UniFirst in the third quarter valued at about $33,000. Hedge funds and other institutional investors own 78.17% of the company's stock.

UniFirst Company Profile

UniFirst Corporation NYSE: UNF is a leading provider of customized uniform rental and facility service programs in North America and Europe. The company specializes in the rental, laundering and maintenance of workwear, corporate apparel and protective garments for a broad range of industries, including manufacturing, automotive, hospitality, healthcare and food processing. UniFirst also offers a suite of facility service products such as entrance mats, restroom supplies, wipers, mops and hygienic services designed to help customers maintain clean and safe environments.

In addition to its core uniform rental business, UniFirst has expanded its product portfolio to include safety and first-responder gear, flame-resistant clothing, high-visibility apparel and personal protective equipment (PPE).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.