Barrington Research Comments on UniFirst Corp’s FY2018 Earnings (UNF)
UniFirst Corp (NYSE:UNF) – Research analysts at Barrington Research boosted their FY2018 earnings per share estimates for shares of UniFirst in a research note issued on Thursday. Barrington Research analyst K. Steinke now forecasts that the textile maker will post earnings of $5.39 per share for the year, up from their previous estimate of $5.17.
UniFirst (NYSE:UNF) last released its earnings results on Wednesday, January 3rd. The textile maker reported $1.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.19. The firm had revenue of $415.80 million during the quarter, compared to analyst estimates of $404.60 million. UniFirst had a net margin of 4.69% and a return on equity of 7.72%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business earned $1.38 EPS.
UNF has been the subject of several other research reports. Zacks Investment Research lowered shares of UniFirst from a “hold” rating to a “strong sell” rating in a report on Saturday, October 21st. Northcoast Research restated a “neutral” rating on shares of UniFirst in a report on Thursday, October 19th. Finally, Robert W. Baird raised their target price on shares of UniFirst from $163.00 to $171.00 and gave the stock an “outperform” rating in a report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $180.00.
UniFirst (NYSE UNF) traded down $1.55 during trading on Monday, hitting $168.50. 59,950 shares of the stock traded hands, compared to its average volume of 95,364. The company has a market cap of $3,420.00, a price-to-earnings ratio of 45.05, a PEG ratio of 3.17 and a beta of 0.74. UniFirst has a 12-month low of $124.85 and a 12-month high of $176.15.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC purchased a new position in shares of UniFirst in the 2nd quarter worth approximately $121,138,000. Russell Investments Group Ltd. grew its position in shares of UniFirst by 23.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 197,868 shares of the textile maker’s stock worth $29,971,000 after buying an additional 37,150 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of UniFirst by 5.3% in the 3rd quarter. Victory Capital Management Inc. now owns 586,882 shares of the textile maker’s stock worth $88,912,000 after buying an additional 29,575 shares during the last quarter. Atlanta Capital Management Co. L L C grew its position in shares of UniFirst by 11.1% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 254,924 shares of the textile maker’s stock worth $35,868,000 after buying an additional 25,386 shares during the last quarter. Finally, Atlantic Trust Group LLC purchased a new position in shares of UniFirst in the 3rd quarter worth approximately $3,068,000. 74.07% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP David Martin Katz sold 1,060 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $168.15, for a total value of $178,239.00. Following the transaction, the vice president now owns 2,667 shares of the company’s stock, valued at approximately $448,456.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael A. Croatti sold 1,216 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $168.99, for a total transaction of $205,491.84. Following the transaction, the vice president now directly owns 3,375 shares in the company, valued at approximately $570,341.25. The disclosure for this sale can be found here. Insiders sold a total of 2,401 shares of company stock worth $405,193 in the last ninety days. 1.00% of the stock is currently owned by insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 9th will be paid a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Thursday, March 8th. UniFirst’s dividend payout ratio is presently 4.01%.
UniFirst Corporation is a provider of workplace uniforms and protective work wear clothing in the United States. The Company designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, aprons and specialized protective wear, such as flame resistant and high visibility garments.
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