In recent trading, shares of Unifirst Corp (Symbol: UNF) have crossed above the average analyst 12-month target price of $185.50, changing hands for $204.69/share. When a stock hits its analyst-set target, they typically have two options: either downgrade the stock based on valuation or raise their target price. The decision often hinges on how business fundamentals are performing; if the company shows improvement, a higher target may be justified.
There are four different analyst targets contributing to the average for Unifirst Corp as part of the Zacks coverage universe. This average is simply a mathematical calculation. Some analysts set lower projections, with one placing a target at $172.00, while another has set theirs as high as $200.00. The standard deviation among these targets stands at $12.151.
The primary value in focusing on the average UNF price target lies in collective forecasting, where multiple analysts’ insights contribute to a more comprehensive view than what any single analyst might suggest. Now that UNF has surpassed the average target price of $185.50/share, investors are prompted to reassess the company’s prospects. Is $185.50 just a stopping point before reaching even higher values, or has the stock now become overvalued, prompting thoughts of taking some profits? Below is a summary of recent analyst ratings for Unifirst Corp:
| Recent UNF Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 0 | 0 | 0 | 0 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 5 | 5 | 5 | 5 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 1 | 1 | 1 | 1 |
| Average rating: | 3.33 | 3.33 | 3.33 | 3.33 |
The average rating in the table ranges from 1 to 5, with 1 representing a Strong Buy and 5 indicating a Strong Sell. This article utilized data provided by Zacks Investment Research via Quandl.com. For those looking for more insights, the latest Zacks research report on UNF is available for free.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
