FY2018 Earnings Estimate for UniFirst Corp Issued By William Blair (UNF)
UniFirst Corp (NYSE:UNF) – Analysts at William Blair lifted their FY2018 earnings per share estimates for UniFirst in a research note issued on Wednesday. William Blair analyst T. Mulrooney now expects that the textile maker will post earnings per share of $5.37 for the year, up from their prior estimate of $5.31.
UNF has been the subject of several other research reports. Zacks Investment Research cut shares of UniFirst from a “hold” rating to a “strong sell” rating in a research report on Saturday, October 21st. Northcoast Research reiterated a “neutral” rating on shares of UniFirst in a research report on Thursday, October 19th. Finally, Robert W. Baird upped their target price on shares of UniFirst from $163.00 to $171.00 and gave the company an “outperform” rating in a research 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 assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $180.00.
Shares of UniFirst (NYSE UNF) traded down $1.65 during trading on Monday, hitting $170.05. 71,400 shares of the company’s stock traded hands, compared to its average volume of 101,267. The company has a market cap of $3,420.00, a PE ratio of 45.47, a price-to-earnings-growth ratio of 3.17 and a beta of 0.74. UniFirst has a 52 week low of $124.85 and a 52 week high of $176.15.
UniFirst (NYSE:UNF) last posted its quarterly earnings data on Wednesday, January 3rd. The textile maker reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.19. UniFirst had a return on equity of 7.72% and a net margin of 4.69%. The firm had revenue of $415.80 million for the quarter, compared to the consensus estimate of $404.60 million. During the same quarter in the prior year, the business earned $1.38 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in UniFirst by 4.4% during the 2nd quarter. State Street Corp now owns 376,860 shares of the textile maker’s stock worth $53,020,000 after purchasing an additional 15,909 shares in the last quarter. Prudential Financial Inc. increased its holdings in UniFirst by 2.7% during the 3rd quarter. Prudential Financial Inc. now owns 27,328 shares of the textile maker’s stock worth $4,140,000 after purchasing an additional 710 shares in the last quarter. PEAK6 Investments L.P. increased its holdings in UniFirst by 42.3% during the 3rd quarter. PEAK6 Investments L.P. now owns 2,579 shares of the textile maker’s stock worth $391,000 after purchasing an additional 767 shares in the last quarter. Victory Capital Management Inc. increased its holdings in UniFirst by 5.3% during the 3rd quarter. Victory Capital Management Inc. now owns 586,882 shares of the textile maker’s stock worth $88,912,000 after purchasing an additional 29,575 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in UniFirst by 52.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,778 shares of the textile maker’s stock valued at $813,000 after acquiring an additional 1,977 shares during the period. Institutional investors and hedge funds own 74.07% of the company’s stock.
In related news, VP Michael A. Croatti sold 1,216 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $168.99, for a total value of $205,491.84. Following the completion of the sale, the vice president now owns 3,375 shares in the company, valued at approximately $570,341.25. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP David Martin Katz sold 1,060 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $168.15, for a total transaction of $178,239.00. Following the completion of the sale, the vice president now owns 2,667 shares of the company’s stock, valued at approximately $448,456.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,401 shares of company stock valued at $405,193. 1.00% of the stock is owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 9th will be given a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date is Thursday, March 8th. UniFirst’s dividend payout ratio is currently 4.01%.
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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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