Weiss Ratings Reaffirms "Hold (C)" Rating for Unifirst (NYSE:UNF)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C)" rating for UniFirst (NYSE:UNF), indicating a neutral stance on the stock's performance.
• Analysts from various institutions have set target prices for UniFirst, ranging from $152.00 to $197.00, with a general consensus price target of $179.50.
• UniFirst's stock has seen a trading value of $164.79, with institutional investors holding approximately 78.17% of the company's shares.

Unifirst (NYSE:UNF - Get Free Report)'s stock had its "hold (c)" rating reissued by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other analysts also recently weighed in on UNF. Robert W. Baird set a $197.00 target price on Unifirst in a research note on Monday, June 30th. JPMorgan Chase & Co. assumed coverage on Unifirst in a report on Monday, July 14th. They issued an "underweight" rating and a $175.00 price target for the company. UBS Group dropped their target price on Unifirst from $196.00 to $194.00 and set a "neutral" rating for the company in a report on Monday, June 30th. Finally, Barclays set a $152.00 price objective on Unifirst and gave the stock an "underweight" rating in a research note on Monday, June 30th. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $179.50.

Unifirst Stock Performance

Shares of UNF traded up $0.11 during trading hours on Wednesday, hitting $164.79. 46,957 shares of the company were exchanged, compared to its average volume of 126,806. The company has a market cap of $3.06 billion, a PE ratio of 20.24 and a beta of 0.86. The firm's 50 day moving average is $172.42 and its 200-day moving average is $176.95. Unifirst has a 52 week low of $156.34 and a 52 week high of $243.70.

Hedge Funds Weigh In On Unifirst

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its stake in Unifirst by 8.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,827 shares of the textile maker's stock valued at $313,000 after acquiring an additional 150 shares during the period. Rhumbline Advisers raised its holdings in Unifirst by 3.2% during the first quarter. Rhumbline Advisers now owns 51,883 shares of the textile maker's stock worth $9,028,000 after acquiring an additional 1,585 shares in the last quarter. Park Avenue Securities LLC raised its holdings in Unifirst by 8.6% during the first quarter. Park Avenue Securities LLC now owns 3,032 shares of the textile maker's stock worth $528,000 after acquiring an additional 239 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Unifirst by 22.5% during the first quarter. Harbor Capital Advisors Inc. now owns 10,452 shares of the textile maker's stock worth $1,819,000 after acquiring an additional 1,917 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Unifirst by 59.9% during the first quarter. GAMMA Investing LLC now owns 227 shares of the textile maker's stock worth $39,000 after acquiring an additional 85 shares in the last quarter. Institutional investors own 78.17% of the company's stock.

About Unifirst

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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