Should Investors Be Buying UniFirst (NYSE:UNF) Stock Following Today’s Sidoti Upgrade?


UniFirst (NYSE:UNF) Stock Upgrade

Sidoti boosted the shares of UniFirst (NYSE:UNF) from a “Neutral” rating to “Buy” rating in a very recent research note sent to clients and investors on 16 December.

Approximately 64,282 shares of stock traded hands. UniFirst Corp (NYSE:UNF) has declined 8.23% since May 13, 2015 and is downtrending. It has underperformed by 5.61% the S&P500.

The overall sentiment of institutions has decreased to 0.73 in Q2 2015. Its down 0.60, from 1.33 in 2015Q2. The ratio dropped, as 21 institutions have sold all the shares of UniFirst Corp that they owned while 73 funds have taken shares off the table. 12 funds have purchased shares for the first time while 57 added to their positions. These institutions now hold 13.49 million shares or 7.61% less than the 14.61 million shares they owned in 2015Q2.

The Fund Rk Asset Management Llc currently is holding shares equating to 5.49% of its total portfolio in UniFirst Corp representing a total of 59,011 shares. Another fund,Waratah Capital Advisors Ltd., is holding a total of 218,510 shares equating to 4.94% of their holdings. Additionally, Gw Capital Inc has a 311,797 share stake in UniFirst Corp which represents 2.16% of their total portfolio. The Fund, National Investment Services Inc Wi, based out of Wisconsin, has also built up a stake in the stock, which represents a total of 2.08% of their total portfolio. Finally Robecosam Usa Inc., a fund which is based in the state of New York reported a total holdings of 9,307 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 16, 2015, shareholders of UniFirst Corp have witnessed 0 buys, and a total of 1 sale equating to a net activity of approximately $418,000 . Difillippo David A sold 3,800 shares worth approximately $418,000. Iandoli Michael sold 1,247 shares worth approximately $148,988. Croatti Ronald D bought 4,000 shares worth approximately $414,000.

UniFirst Corporation is a well-known provider of workplace uniforms and protective work wear clothing in the United States. The company has a market cap of $2.08 billion. The Firm designs, makes, 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. It has 17.58 P/E ratio. The Firm operates in five reporting divisions: US and Canadian Rental and Cleaning, Manufacturing (MFG), Specialty Garments Rental and Cleaning (Specialty Garments), First Aid and Corporate.

According to Zacks Investment Research, “UniFirst Corporation is a provider of workplace uniforms and protective clothing. They rent, manufacture and sell a wide range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, jumpsuits, lab coats, smocks and aprons, and also rent industrial wiping products, floormats and other non-garment items, to a variety of manufacturers, retailers and service companies. They serve businesses of all sizes in numerous industry categories.”