UniFirst Corp (NYSE:UNF) – Equities researchers at William Blair reduced their Q3 2017 earnings estimates for shares of UniFirst Corp in a research note issued on Wednesday. William Blair analyst T. Mulrooney now expects that the firm will post earnings of $1.27 per share for the quarter, down from their previous estimate of $1.36. William Blair has a “Market Perform” rating on the stock. William Blair also issued estimates for UniFirst Corp’s Q4 2017 earnings at $1.19 EPS, FY2017 earnings at $4.95 EPS and FY2018 earnings at $5.46 EPS.
Separately, Zacks Investment Research raised shares of UniFirst Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, December 28th.
Shares of UniFirst Corp (NYSE:UNF) opened at 141.45 on Friday. The firm has a market cap of $2.85 billion, a P/E ratio of 24.72 and a beta of 0.76. UniFirst Corp has a 12 month low of $104.86 and a 12 month high of $147.65. The company’s 50-day moving average price is $133.36 and its 200-day moving average price is $133.59.
UniFirst Corp (NYSE:UNF) last issued its quarterly earnings results on Wednesday, March 29th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.09. The business had revenue of $391.40 million for the quarter, compared to the consensus estimate of $385.28 million. UniFirst Corp had a return on equity of 7.99% and a net margin of 7.92%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.16 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 10th were given a dividend of $0.0375 per share. The ex-dividend date was Wednesday, March 8th. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. UniFirst Corp’s dividend payout ratio is currently 2.60%.
In other UniFirst Corp news, VP Cynthia Croatti sold 1,708 shares of UniFirst Corp stock in a transaction that occurred on Tuesday, March 28th. The shares were sold at an average price of $134.21, for a total transaction of $229,230.68. Following the transaction, the vice president now owns 4,000 shares of the company’s stock, valued at approximately $536,840. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David Martin Katz sold 1,089 shares of UniFirst Corp stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $129.39, for a total transaction of $140,905.71. Following the transaction, the vice president now directly owns 2,667 shares in the company, valued at approximately $345,083.13. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,459 shares of company stock worth $1,372,794. Insiders own 6.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of UNF. Elkfork Partners LLC purchased a new position in UniFirst Corp during the fourth quarter valued at approximately $117,000. Wexford Capital LP bought a new stake in UniFirst Corp during the fourth quarter worth approximately $219,000. Trexquant Investment LP bought a new stake in UniFirst Corp during the fourth quarter worth approximately $261,000. M&T Bank Corp boosted its stake in UniFirst Corp by 0.4% in the third quarter. M&T Bank Corp now owns 2,291 shares of the company’s stock worth $302,000 after buying an additional 10 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its stake in UniFirst Corp by 11.2% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 2,282 shares of the company’s stock worth $328,000 after buying an additional 230 shares during the period. 75.94% of the stock is currently owned by hedge funds and other institutional investors.
About UniFirst Corp
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.