UniFirst (NYSE:UNF) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• UniFirst shares rose above their 200-day moving average, trading as high as $275.12 and last changing hands near $273.29. The move comes with the stock still above its 50-day average of $264.77.
• Recent earnings were mixed: UniFirst reported $1.09 EPS, well below the $1.93 consensus estimate, even though revenue of $634.4 million topped expectations and rose 3.9% year over year.
• Analyst sentiment remains cautious, with an average rating of Hold and a consensus price target of $246.67. Weiss Ratings recently downgraded the stock to Hold, while UBS set a $262 target.

UniFirst Corporation (NYSE:UNF - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $245.28 and traded as high as $275.12. UniFirst shares last traded at $273.2930, with a volume of 111,284 shares trading hands.

Wall Street Analysts Forecast Growth

UNF has been the topic of a number of recent research reports. Weiss Ratings downgraded UniFirst from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday. UBS Group set a $262.00 target price on UniFirst in a report on Monday, July 6th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $246.67.

UniFirst Stock Performance

The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 43.11 and a beta of 0.63. The business's 50-day moving average is $264.77 and its 200-day moving average is $245.28.

UniFirst (NYSE:UNF - Get Free Report) last posted its earnings results on Wednesday, July 1st. The textile maker reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.93 by ($0.84). The firm had revenue of $634.40 million during the quarter, compared to the consensus estimate of $627.66 million. UniFirst had a net margin of 4.65% and a return on equity of 6.44%. The business's revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.13 EPS. Equities research analysts expect that UniFirst Corporation will post 7.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. raised its stake 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 worth $27,000 after buying an additional 128 shares during the last quarter. Modus Advisors LLC acquired a new position in UniFirst in the fourth quarter valued at approximately $28,000. EverSource Wealth Advisors LLC boosted its stake in UniFirst by 378.1% in 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. Danske Bank A S bought a new position in UniFirst in the third quarter valued at approximately $33,000. Finally, Brown Brothers Harriman & Co. boosted its stake in UniFirst by 1,244.0% in the third quarter. Brown Brothers Harriman & Co. now owns 336 shares of the textile maker's stock valued at $56,000 after acquiring an additional 311 shares during the last quarter. 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).

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