UniFirst Corp (NYSE:UNF) VP David A. Difillippo sold 840 shares of the company’s stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $155.68, for a total transaction of $130,771.20. Following the completion of the transaction, the vice president now owns 6,856 shares in the company, valued at $1,067,342.08. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
NYSE:UNF traded up $1.60 during mid-day trading on Friday, hitting $155.80. 109,910 shares of the company’s stock traded hands, compared to its average volume of 146,448. The company has a market capitalization of $2.97 billion, a P/E ratio of 20.91 and a beta of 0.68. UniFirst Corp has a 1 year low of $132.38 and a 1 year high of $193.05.
UniFirst (NYSE:UNF) last released its earnings results on Wednesday, March 27th. The textile maker reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.15. UniFirst had a net margin of 8.73% and a return on equity of 8.89%. The business had revenue of $437.50 million for the quarter, compared to analysts’ expectations of $434.90 million. During the same period last year, the company earned $1.38 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts predict that UniFirst Corp will post 6.94 EPS for the current year.
UniFirst declared that its Board of Directors has authorized a share repurchase plan on Thursday, January 3rd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the textile maker to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Several research analysts have recently issued reports on UNF shares. ValuEngine cut shares of UniFirst from a “buy” rating to a “hold” rating in a report on Friday, January 4th. Zacks Investment Research upgraded shares of UniFirst from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Finally, Robert W. Baird decreased their price target on shares of UniFirst from $170.00 to $152.00 and set an “outperform” rating for the company in a research note on Friday, January 4th.
Hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its stake in shares of UniFirst by 1.5% during the fourth quarter. BlackRock Inc. now owns 2,224,516 shares of the textile maker’s stock valued at $318,260,000 after purchasing an additional 32,307 shares during the period. Vanguard Group Inc. raised its stake in shares of UniFirst by 1.8% during the third quarter. Vanguard Group Inc. now owns 1,525,600 shares of the textile maker’s stock valued at $264,920,000 after purchasing an additional 26,297 shares during the period. Vanguard Group Inc raised its stake in shares of UniFirst by 1.8% during the third quarter. Vanguard Group Inc now owns 1,525,600 shares of the textile maker’s stock valued at $264,920,000 after purchasing an additional 26,297 shares during the period. Royce & Associates LP raised its stake in shares of UniFirst by 8.0% during the fourth quarter. Royce & Associates LP now owns 591,414 shares of the textile maker’s stock valued at $84,614,000 after purchasing an additional 43,758 shares during the period. Finally, Northern Trust Corp raised its stake in shares of UniFirst by 0.4% during the fourth quarter. Northern Trust Corp now owns 316,855 shares of the textile maker’s stock valued at $45,332,000 after purchasing an additional 1,179 shares during the period. 77.93% of the stock is currently owned by hedge funds and other institutional investors.
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UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada. The company operates through U.S. Rental and Cleaning, 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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