Unifirst Corporation (NYSE:UNF) Short Interest Up 39.6% in August

Key Points

• Unifirst Corporation's short interest surged by 39.6% in August, bringing the total to 194,300 shares as of August 15th.
• The company's stock has a current price target consensus of $179.50 from analysts, with ratings ranging from "Hold" to "Sell."
• Unifirst announced a quarterly dividend of $0.35 per share, which will be paid on September 26th, reflecting a yield of 0.8%.

Unifirst Corporation (NYSE:UNF - Get Free Report) saw a large increase in short interest in August. As of August 15th, there was short interest totaling 194,300 shares, anincreaseof39.6% from the July 31st total of 139,200 shares. Based on an average trading volume of 119,800 shares, the short-interest ratio is currently 1.6 days. Currently,1.3% of the company's stock are sold short. Currently,1.3% of the company's stock are sold short. Based on an average trading volume of 119,800 shares, the short-interest ratio is currently 1.6 days.

Wall Street Analysts Forecast Growth

UNF has been the subject of several analyst reports. Robert W. Baird set a $197.00 price target on shares of Unifirst in a research report on Monday, June 30th. JPMorgan Chase & Co. initiated coverage on shares of Unifirst in a research report on Monday, July 14th. They set an "underweight" rating and a $175.00 price target for the company. UBS Group decreased 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. Finally, Barclays set a $152.00 price target on shares of Unifirst and gave the company an "underweight" rating in a research report on Monday, June 30th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $179.50.

Unifirst Stock Down 2.0%

Shares of Unifirst stock traded down $3.54 during midday trading on Monday, hitting $174.23. The company had a trading volume of 124,530 shares, compared to its average volume of 76,885. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 21.40 and a beta of 0.86. The company has a fifty day simple moving average of $174.89 and a 200 day simple moving average of $182.32. Unifirst has a 12-month low of $156.34 and a 12-month high of $243.70.

Unifirst (NYSE:UNF - Get Free Report) last posted its quarterly earnings results on Wednesday, July 2nd. The textile maker reported $2.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $614.50 million. During the same period last year, the firm posted $2.20 EPS. Unifirst's revenue for the quarter was up 1.2% compared to the same quarter last year. Unifirst has set its FY 2025 guidance at 7.600-8.00 EPS. As a group, analysts expect that Unifirst will post 7.71 EPS for the current year.

Unifirst Dividend Announcement

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

Institutional Investors Weigh In On Unifirst

A number of hedge funds and other institutional investors have recently made changes to their positions in UNF. Parkside Financial Bank & Trust grew its stake in Unifirst by 285.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 135 shares of the textile maker's stock valued at $25,000 after acquiring an additional 100 shares during the period. Advisors Asset Management Inc. purchased a new position in Unifirst in the 2nd quarter valued at $25,000. Geneos Wealth Management Inc. raised its holdings in shares of Unifirst by 474.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker's stock worth $27,000 after acquiring an additional 128 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Unifirst by 378.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker's stock worth $29,000 after acquiring an additional 121 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Unifirst by 59.9% during the 1st quarter. GAMMA Investing LLC now owns 227 shares of the textile maker's stock worth $39,000 after acquiring an additional 85 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.