UniFirst (NYSE:UNF) Shares Down 5.2% – What’s Next?

Shares of UniFirst Co. (NYSE:UNF) traded down 5.2% during trading on Wednesday . The company traded as low as $180.00 and last traded at $180.00. 9,302 shares traded hands during trading, a decline of 89% from the average session volume of 85,464 shares. The stock had previously closed at $189.93.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of UniFirst from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, June 27th. Robert W. Baird lifted their target price on shares of UniFirst from $199.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday. UBS Group lifted their target price on shares of UniFirst from $186.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, June 27th. Finally, StockNews.com upgraded shares of UniFirst from a “hold” rating to a “buy” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $186.25.

UniFirst Price Performance

The business’s 50-day moving average price is $188.82 and its two-hundred day moving average price is $175.27. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 27.35 and a beta of 0.81.

Insider Activity at UniFirst

In related news, Director Michael Iandoli sold 682 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $194.30, for a total value of $132,512.60. Following the completion of the sale, the director now directly owns 4,744 shares in the company, valued at approximately $921,759.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.74% of the stock is owned by insiders.

Institutional Investors Weigh In On UniFirst

A number of institutional investors have recently bought and sold shares of UNF. Vanguard Group Inc. grew its stake in UniFirst by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 1,690,940 shares of the textile maker’s stock worth $309,290,000 after buying an additional 12,138 shares during the period. Oliver Luxxe Assets LLC purchased a new stake in UniFirst during the first quarter worth approximately $513,000. BNP Paribas Financial Markets grew its stake in UniFirst by 336.5% during the first quarter. BNP Paribas Financial Markets now owns 18,582 shares of the textile maker’s stock worth $3,223,000 after buying an additional 14,325 shares during the period. Pullen Investment Management LLC purchased a new stake in UniFirst during the first quarter worth approximately $473,000. Finally, Texas Permanent School Fund Corp grew its stake in UniFirst by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 13,225 shares of the textile maker’s stock worth $2,294,000 after buying an additional 176 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

About UniFirst

UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada. The company operates through U.S. and Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. It 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.