UniFirst (NYSE:UNF) Upgraded by StockNews.com to Strong-Buy Rating

StockNews.com upgraded shares of UniFirst (NYSE:UNF) from a buy rating to a strong-buy rating in a research report report published on Tuesday morning.

Separately, Robert W. Baird raised their target price on UniFirst from $199.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $186.25.

UniFirst Stock Up 0.6 %

UNF stock opened at $177.30 on Tuesday. UniFirst has a twelve month low of $149.58 and a twelve month high of $208.20. The business’s fifty day moving average is $192.23 and its 200-day moving average is $184.75. The company has a market cap of $3.29 billion, a P/E ratio of 22.82 and a beta of 0.84.

UniFirst Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, December 6th. This is a boost from UniFirst’s previous quarterly dividend of $0.33. UniFirst’s dividend payout ratio is 18.02%.

Insider Buying and Selling

In related news, VP David Martin Katz sold 587 shares of UniFirst stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $193.08, for a total value of $113,337.96. Following the sale, the vice president now owns 5,625 shares of the company’s stock, valued at approximately $1,086,075. This trade represents a 9.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven S. Sintros sold 3,207 shares of UniFirst stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.04, for a total transaction of $619,079.28. Following the completion of the sale, the chief executive officer now owns 22,571 shares in the company, valued at $4,357,105.84. This trade represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,294 shares of company stock worth $2,546,632 over the last ninety days. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Quarry LP increased its stake in shares of UniFirst by 1,627.3% during the 2nd quarter. Quarry LP now owns 190 shares of the textile maker’s stock worth $33,000 after purchasing an additional 179 shares during the last quarter. GAMMA Investing LLC increased its position in UniFirst by 60.5% during the third quarter. GAMMA Investing LLC now owns 183 shares of the textile maker’s stock worth $36,000 after buying an additional 69 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of UniFirst by 16.5% in the third quarter. First Horizon Advisors Inc. now owns 367 shares of the textile maker’s stock valued at $73,000 after buying an additional 52 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of UniFirst during the 2nd quarter worth approximately $92,000. Finally, TD Private Client Wealth LLC lifted its holdings in UniFirst by 291.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 466 shares of the textile maker’s stock valued at $93,000 after purchasing an additional 347 shares during the last quarter. 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.