UniFirst (NYSE:UNF) posted its quarterly earnings results on Wednesday. The textile maker reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.42, MarketWatch Earnings reports. The business had revenue of $434.10 million for the quarter, compared to analysts’ expectations of $421.45 million. UniFirst had a return on equity of 8.21% and a net margin of 7.45%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.44 earnings per share. UniFirst updated its FY19 guidance to $6.65-7.05 EPS.
UniFirst stock opened at $153.13 on Thursday. The stock has a market capitalization of $3.32 billion, a P/E ratio of 29.00, a PEG ratio of 2.32 and a beta of 0.55. UniFirst has a 12-month low of $144.30 and a 12-month high of $193.05.
Several research firms recently issued reports on UNF. Zacks Investment Research upgraded UniFirst from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a report on Thursday, August 2nd. ValuEngine cut UniFirst from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Robert W. Baird raised their price target on UniFirst from $183.00 to $198.00 and gave the company an “outperform” rating in a report on Thursday, June 28th. Finally, Barrington Research reiterated a “hold” rating on shares of UniFirst in a report on Friday, June 29th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $202.00.
In other UniFirst news, Director Michael Iandoli sold 594 shares of the stock in a transaction dated Friday, July 20th. The stock was sold at an average price of $187.24, for a total value of $111,220.56. Following the transaction, the director now owns 5,732 shares of the company’s stock, valued at $1,073,259.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder The Ronald D. Croatti Trust – 1 sold 2,200 shares of the stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $182.83, for a total value of $402,226.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,609 shares of company stock worth $854,299. 1.00% of the stock is owned by company insiders.
UniFirst Company Profile
UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Canada, and Europe. It operates through US Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. 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, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.
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