High Yield Bond Issuance Fell in December on Rate Hike, Holidays
Let’s look at the high yield bond markets. Junk bond issuers stayed away from the primary market for three successive weeks in December due to holidays.
UniFirst Has Acquired Arrow Uniform for $122 Million
UniFirst (UNF) rose 1.4% to close at $132.59 per share during the third week of September 2016.
Robert W. Baird Downgrades UniFirst to a ‘Neutral’
UniFirst Corporation (UNF) has a market capitalization of $2.3 billion. It fell by 0.86% to close at $114.73 per share on July 1, 2016.
How Did UniFirst’s Fiscal 3Q16 Earnings Turn Out?
UniFirst Corporation (UNF) has a market cap of $2.3 billion. Its stock rose by 9.0% to close at $114.89 per share on June 29, 2016.
High Yield Bond Funds Saw Inflows—What of Yields and Spreads?
According to Lipper, net inflows from high yield bond funds totaled $1.1 billion in the week ended May 18, 2016.
Who Issued the Most Junk Bonds in the Week Ended May 20?
Issuance in the high yield primary market gained traction due to an improved market environment. Junk bond issuance rose last week.
UniFirst Reported Mixed Quarterly Results for Fiscal 1Q16
UniFirst rose by 0.60% to close at $102.26 per share as of January 6, 2016. Its price movement on a year-to-date basis is -3.5%.
Mednax Issued Most Junk Bonds Back in December 2015
Mednax is a national medical group. It had issued junk bonds worth $750 million on December 1. Mednax would use the proceeds of the loan for refinancing.
Why Did High-Yield Bond Issuers Avoid the Primary Market?
High-yield bond issuance fell to zero last week due to two main reasons. Junk bond issuers stayed away from the primary market due to fears of default risk.
Clear Channel International: The Only Junk Bond Issuer in the Week Ending December 11
An indirect and wholly owned subsidiary of Clear Channel Outdoor Holdings, Clear Channel International issued $225 million in dollar-denominated junk bonds.
How Does Aramark Compare with Its Peers?
Aramark’s peers are ahead of the company based on price-to-sales ratios. However, Aramark has outperformed its peers based on other measures.
Cintas’ Performance versus Its Peers in a Competitive Market
Cintas outperformed its peers based on the PE ratio and the PBV ratio. Cintas outperformed its ETFs based on the price movement, PE ratio, and PBV ratio.
Cintas’ Revenue Rises and the Net Income Falls
Cintas has a market cap of $9.69 billion. Its YTD price movement is stable. After the 1Q16 earnings report, Cintas fell by 0.50% to close at $86.15 per share.