UniFirst Sees Unusually Large Options Volume (NYSE:UNF)

UniFirst Corporation (NYSE:UNF) was the target of some unusual options trading on Friday. Stock traders bought 3,139 call options on the company. This represents an increase of approximately 618% compared to the average volume of 437 call options.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on UNF. Zacks Research raised UniFirst from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of UniFirst in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.67.

UniFirst Stock Performance

NYSE UNF traded down $7.71 during trading hours on Friday, hitting $233.78. The company had a trading volume of 124,289 shares, compared to its average volume of 270,464. The business has a 50 day moving average of $259.80 and a 200-day moving average of $261.83. The company has a market cap of $4.23 billion, a PE ratio of 39.11 and a beta of 0.65. UniFirst has a 1-year low of $154.00 and a 1-year high of $306.67.

UniFirst (NYSE:UNF) last announced its earnings results on Wednesday, October 21st. The textile maker reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.14). The firm had revenue of $645.01 million during the quarter, compared to analyst estimates of $634.40 million. UniFirst had a net margin of 4.34% and a return on equity of 6.65%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $2.23 earnings per share. Sell-side analysts expect that UniFirst will post 8.52 earnings per share for the current fiscal year.

UniFirst Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, November 13th will be paid a $0.3750 dividend. This is a boost from UniFirst’s previous quarterly dividend of $0.3650. The ex-dividend date is Friday, November 13th. This represents a $1.50 annualized dividend and a dividend yield of 0.6%. UniFirst’s dividend payout ratio (DPR) is 24.29%.

Institutional Investors Weigh In On UniFirst

A number of institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC purchased a new stake in shares of UniFirst in the second quarter valued at approximately $31,000. Heritage Family Offices LLP purchased a new position in UniFirst in the third quarter worth $30,000. Longfellow Investment Management Co. LLC purchased a new position in UniFirst in the second quarter worth $69,000. Global Retirement Partners LLC purchased a new position in UniFirst in the second quarter worth $77,000. Finally, Nykredit A S acquired a new stake in UniFirst in the second quarter valued at $110,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

UniFirst Company Profile

UniFirst Corporation provides uniform rental and workplace services to businesses across a range of industries. Its programs include workwear selection, laundering, inspection, repair, and scheduled delivery, as well as sales of uniforms and related apparel. The company also supplies facility services such as floor mats, towels, restroom products, and first aid and safety supplies. Through specialized operations, UniFirst provides cleanroom garments and related services for businesses that require controlled environments.