Unifirst (NYSE:UNF) Reaches New 52-Week Low - Time to Sell?

Key Points

• Unifirst Corporation's shares have reached a new 52-week low of $156.25 amidst a trading volume of 35,570 shares, with the stock closing slightly higher at $156.33.
• Wall Street analysts have given mixed ratings for Unifirst, with a consensus rating of "Reduce" and an average price target of **$179.50** from various firms.
• The company recently announced a **quarterly dividend** of $0.35 per share, marking an **annualized yield of 0.9%**, while institutional investors have increased their holdings significantly in recent quarters.

Shares of Unifirst Corporation (NYSE:UNF - Get Free Report) hit a new 52-week low during trading on Tuesday . The company traded as low as $156.25 and last traded at $156.33, with a volume of 35570 shares trading hands. The stock had previously closed at $158.52.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on UNF shares. JPMorgan Chase & Co. assumed coverage on shares of Unifirst in a research report on Monday, July 14th. They set an "underweight" rating and a $175.00 price target on the stock. Barclays set a $152.00 price objective on shares of Unifirst and gave the stock an "underweight" rating in a research report on Monday, June 30th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Unifirst in a research report on Wednesday, October 8th. Robert W. Baird set a $197.00 price objective on shares of Unifirst in a research report on Monday, June 30th. Finally, UBS Group reduced their price objective 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. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $179.50.

Unifirst Price Performance

The stock has a market capitalization of $3.00 billion, a P/E ratio of 19.88 and a beta of 0.86. The firm has a 50 day moving average of $171.59 and a 200-day moving average of $176.47.

Unifirst Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 5th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.9%. Unifirst's dividend payout ratio (DPR) is presently 17.20%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in UNF. Parkside Financial Bank & Trust lifted its holdings in shares of Unifirst by 285.7% during the second 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. bought a new position in shares of Unifirst during the second quarter valued at $25,000. Geneos Wealth Management Inc. lifted its holdings in shares of Unifirst by 474.1% during the first quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker's stock valued at $27,000 after acquiring an additional 128 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 period. Finally, GAMMA Investing LLC lifted its holdings in shares of Unifirst by 59.9% during the first quarter. GAMMA Investing LLC now owns 227 shares of the textile maker's stock valued at $39,000 after acquiring an additional 85 shares during the period. 78.17% of the stock is owned by institutional investors.

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.

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