UniFirst Corp (NYSE:UNF) shares are moving higher on Tuesday. Reports surfaced that the company is in active acquisition talks with Cintas. Here’s what you may want to know.
Cintas Renews Its Bid
According to Bloomberg, UniFirst is now engaged in discussions with Cintas Corp (NASDAQ:CTAS) after the industry giant resubmitted a $275‑per‑share takeover offer in December. Cintas had first approached UniFirst with the same bid back in January 2025 but walked away when it couldn't get the company to meaningfully engage.
On UniFirst's recent earnings call, CEO Steven Sintros confirmed that the board has been working with advisers to evaluate the renewed proposal and determine whether it's in the best interest of shareholders.
This isn't the first time Cintas has tried to buy UniFirst. The company expressed interest as far back as 2022 with a $255‑per‑share indication, but UniFirst didn't pursue discussions at the time.
Sources told Bloomberg the current negotiations are still preliminary, and there's no guarantee a deal will be reached. Key details — including final price and timing — remain undecided.
Technical Picture: Strong Momentum
Unifirst is currently positioned strongly above its key moving averages, indicating bullish momentum. The stock is trading 15.6% above its 20-day SMA, 22.8% above its 50-day SMA and 33.8% above its 100-day SMA, which suggests a solid upward trend.
The RSI is currently at 47.90, signaling a neutral momentum phase, indicating that Unifirst’s stock is neither overbought nor oversold, suggesting that traders should watch for potential breakout opportunities as momentum builds. MACD is below its signal line, indicating bearish pressure in the short-term.
Key support is set at $209.50, while there is currently no defined resistance level. If the stock approaches this support level, traders should be cautious, as a breach could signal a potential trend reversal.
There was a golden cross in January, where the 50-day SMA crossed above the 200-day SMA, which reinforces the bullish sentiment in the longer term. This crossover typically indicates a strengthening trend, which traders should keep in mind as they assess future price movements.
UNF Price Action: UniFirst shares were up 19.16% at $238.12 at the time of publication on Tuesday. The stock is trading at a new 52-week high, according to Benzinga Pro.
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