In a report released yesterday, Andrew Steinerman from J.P. Morgan maintained a Sell rating on UniFirst (UNF – Research Report), with a price target of $160.00. The company’s shares closed yesterday at $200.00.
Steinerman covers the Services sector, focusing on stocks such as Equifax, UniFirst, and Cintas. According to TipRanks, Steinerman has an average return of 7.6% and a 58.39% success rate on recommended stocks.
UniFirst has an analyst consensus of Hold, with a price target consensus of $192.50.
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Based on UniFirst’s latest earnings release for the quarter ending August 31, the company reported a quarterly revenue of $516.41 million and a net profit of $26.18 million. In comparison, last year the company earned a revenue of $486.16 million and had a net profit of $33.71 million
Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of UNF in relation to earlier this year.
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UniFirst Corp. engages in the design, manufacture, personalization, rental, cleaning, delivery, and sale of a range of uniforms and protective clothing. It operates through following segments: U.S. Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, First Aid, and Corporate. The U.S. and Canadian Rental and Cleaning segment purchases, rents, cleans, delivers and sells uniforms and protective clothing and non-garment items in the United States and Canada. The Manufacturing segment designs and manufactures uniforms and non-garment items primarily for the purpose of providing these goods to the U.S. and Canadian Rental and Cleaning reporting segment. The Specialty Garments Rental and Cleaning segment sells specialty garments and non-garment items primarily for nuclear and cleanroom applications and provides cleanroom cleaning services at limited customer locations. The First Aid segment provides first aid cabinet services and other safety supplies as well as maintains wholesale distribution and pill packaging operations. The Corporate segment consists of costs associated with its distribution center, sales and marketing, information systems, engineering, materials management, manufacturing planning, finance, budgeting, human resources, other general and administrative costs and interest expense. The company was founded by Aldo Croatti in 1936 and is headquartered in Wilmington, MA.
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