UniFirst Stock (NYSE:UNF), Trade Ideas

UniFirst

UniFirst Corp provides workplace uniforms, protective clothing, and other workplace products and services to businesses in the United States, Canada, and Europe. The U.S. and Canadian Rental and Cleaning segment that accounts for the majority of the company engages in sales rents and sells clothing and non-garment items, and offers a cleaning service that delivers clean uniforms when it picks up dirty or contaminated ones. Manufacturing segment designs and manufactures uniforms and non-garment items. Specialty garments rental and cleaning segment provides specialty garments, non-garments, and cleaning services for nuclear and classroom applications. The First Aid segment provides safety supplies and pill packaging. The Corporate segment consists of various associated costs.

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U.S. stocks traded higher this morning, with the Dow Jones gaining over 200 points on Wednesday.

Following the market opening Wednesday, the Dow traded up 0.58% to 39,511.62 while the NASDAQ rose 0.60% to 16,412.89. The S&amp;P 500 also rose, gaining, 0.58% to 5,233.65.

Dow Jumps Over 200 Points; UniFirst Posts Downbeat Earnings

Price Target

Analyst Ratings

UniFirst Corporation (NYSE: UNF) is expected to release earnings results for its second quarter, before the opening bell on March 27, 2024.

UniFirst Likely To Report Higher Q2 Earnings; Here Are The Recent Forecast Changes From Wall Street&#39;s Most Accurate Analysts

Long Ideas

Pre-Market Outlook

The most oversold stocks in the industrials presents an opportunity to buy into undervalued companies.

Top 3 Industrials Stocks That Could Blast Off In January

UniFirst Corp

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UBS analyst Joshua Chan maintains UniFirst (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>) with a Neutral and raises the price target from $184 to $186.

UBS Maintains Neutral on UniFirst, Raises Price Target to $186

U.S. stocks traded higher this morning, with the Dow Jones gaining over 200 points on Wednesday.
Following the market opening Wednesday, the Dow traded up 0.58% to 39,511.62 while the NASDAQ rose 0.60% to 16,412.89. The S&amp;P 500 also rose, gaining, 0.58% to 5,233.65.
Check This Out: <a href="https://www.benzinga.com/news/24/03/37932398/top-3-energy-stocks-that-may-keep-you-up-at-night-in-q1"> Top 3 Energy Stocks That May Keep You Up At Night In Q1 </a>
&nbsp;
<h3>Leading and Lagging Sectors</h3>
&nbsp;
Real estate shares jumped by 1.1% on Wednesday.
In trading on Wednesday, consumer discretionary shares rose by just 0.3%.
&nbsp;
<h3>Top Headline</h3>
&nbsp;
UniFirst Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unf#NYSE">UNF</a>) reported weaker-than-expected second-quarter earnings.
UniFirst posted quarterly earnings of $1.09 per share, missing market estimates of $1.23 per share. The company&rsquo;s quarterly sales came in at $590.70 million versus expectations of $587.84 million.
UniFirst said it sees FY24 revenue of $2.415 billion to $2.425 billion and earnings of $6.80 to $7.16 per share.
&nbsp;
<h3>Equities Trading UP</h3>
&nbsp;
Lixte Biotechnology Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lixt#NASDAQ">LIXT</a>) shares shot up 82% to $4.1307 after the company announced the publication of pre-clinical data on its lead clinical compound, LB-100.
Shares of MariaDB plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mrdb#NYSE">MRDB</a>) got a boost, surging 64% to $0.3675 after Progress Software announced that it is possibly considering an offer for the company.
Destiny Tech100 Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dxyz#NYSE">DXYZ</a>) shares were also up, gaining 30% to $11.68 after gaining 9% on Tuesday.
&nbsp;
<h3>Equities Trading DOWN</h3>
&nbsp;
Gamida Cell Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gmda#NASDAQ">GMDA</a>) shares dropped 82% to $0.0620 after the company reported fourth-quarter results and disclosed the commencement of a restructuring process.
Shares of Direct Digital Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/drct#NASDAQ">DRCT</a>) were down 48% to $13.76 after the company reported worse-than-expected fourth-quarter financial results.
Velo3D, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vld#NYSE">VLD</a>) was down, falling 38% to $0.3586 after the company reported worse-than-expected fourth-quarter financial results.
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&nbsp;
<h3>Commodities</h3>
&nbsp;
In commodity news, oil traded down 0.6% to $81.17 while gold traded up 0.8% at $2,194.00.
Silver traded up 0.3% to $24.705 on Wednesday, while copper fell 0.2% to $3.9995.
&nbsp;
<h3>Euro zone</h3>
&nbsp;
European shares were mostly higher today. The eurozone&rsquo;s STOXX 600 rose 0.1%, London&rsquo;s FTSE 100 fell 0.3% while Spain&rsquo;s IBEX 35 Index rose 0.5% The German DAX rose 0.4% French CAC 40 rose 0.2% while Italy&rsquo;s FTSE MIB Index rose 0.1%.
The economic sentiment indicator in the eurozone climbed to a three-month high level of 96.3 in March, while services confidence indicator rose to 6.3 from 6 a month ago. The consumer confidence indicator in the eurozone increased by 0.6 points to a reading of -14.9 in March.
Spain posted a current account surplus of &euro;5,127 million in January, higher than the &euro;2,340 million surplus recorded in year-ago period, while consumer price inflation rate accelerated to 3.2% year-over-year in March. The construction output in Italy surged by 14.8% year-over-year in January, while consumer confidence indicator in France climbed to 91 in March.
&nbsp;
<h3>Asia Pacific Markets</h3>
&nbsp;
Asian markets closed mixed on Wednesday, with Japan&rsquo;s Nikkei 225 gaining 0.90%, Hong Kong&rsquo;s Hang Seng Index falling 1.36%, China&rsquo;s Shanghai Composite Index dipping 1.26% and India&rsquo;s S&amp;P BSE Sensex gaining 0.73%.
Profits earned by Chinese industrial firms jumped by 10.2% year-over-year to CNY 914.06 billion during the first two months of the year.
&nbsp;
<h3>Economics</h3>
&nbsp;
U.S. mortgage applications declined by 0.7% on the week ending March 22, 2024.
Now Read This: <a href="https://www.benzinga.com/news/24/03/37956325/accenture-autozone-and-2-other-stocks-insiders-are-selling"> Accenture, AutoZone And 2 Other Stocks Insiders Are Selling </a>

Guidance

UniFirst Sees FY24 Revenue Of $2.415B-$2.425B (Vs. $2.42B Est.), EPS Of $6.80-$7.16 (Vs. $6.90 Est.)

UniFirst (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>) reported quarterly earnings of $1.09 per share which missed the analyst consensus estimate of $1.23 by 11.38 percent. This is a 14.74 percent increase over earnings of $0.95 per share from the same period last year. The company reported quarterly sales of $590.70 million which beat the analyst consensus estimate of $587.84 million by 0.49 percent. This is a 8.85 percent increase over sales of $542.69 million the same period last year.

UniFirst Q2 EPS $1.09 Misses $1.23 Estimate, Sales $590.70M Beat $587.84M Estimate

<h3>Companies Reporting Before The Bell</h3>
&bull; Local Bounti (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOCL#NYSE">LOCL</a>) is projected to report quarterly loss at $2.41 per share on revenue of $8.70 million.
&bull; REE Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) is estimated to report quarterly loss at $2.38 per share on revenue of $1.35 million.
&bull; Precision BioSciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DTIL#NASDAQ">DTIL</a>) is projected to report quarterly loss at $2.05 per share on revenue of $12.48 million.
&bull; Edap TMS (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EDAP#NASDAQ">EDAP</a>) is expected to report quarterly loss at $0.05 per share on revenue of $19.66 million.
&bull; Vanguard Extended Duration Treasury ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDV#NYSE">EDV</a>) is expected to report earnings for its fourth quarter.
&bull; Cellectar Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLRB#NASDAQ">CLRB</a>) is likely to report earnings for its fourth quarter.
&bull; Gamida Cell (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GMDA#NASDAQ">GMDA</a>) is projected to report quarterly loss at $0.15 per share on revenue of $1.06 million.
&bull; PDS Biotechnology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDSB#NASDAQ">PDSB</a>) is likely to report earnings for its fourth quarter.
&bull; Altimmune (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALT#NASDAQ">ALT</a>) is projected to report earnings for its fourth quarter.
&bull; Syros Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYRS#NASDAQ">SYRS</a>) is estimated to report quarterly loss at $1.14 per share on revenue of $2.00 million.
&bull; Lands&#39; End (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LE#NASDAQ">LE</a>) is expected to report quarterly earnings at $0.21 per share on revenue of $502.71 million.
&bull; Cintas (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTAS#NASDAQ">CTAS</a>) is projected to report quarterly earnings at $3.58 per share on revenue of $2.39 billion.
&bull; GlycoMimetics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLYC#NASDAQ">GLYC</a>) is projected to report earnings for its fourth quarter.
&bull; Sonida Senior Living (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNDA#NYSE">SNDA</a>) is projected to report earnings for its fourth quarter.
&bull; UniFirst (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>) is projected to report quarterly earnings at $1.42 per share on revenue of $587.84 million.
<h3>Companies Reporting After The Bell</h3>
&bull; Creative Media (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCT#NASDAQ">CMCT</a>) is estimated to report quarterly loss at $0.48 per share on revenue of $30.20 million.
&bull; Draganfly (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DPRO#NASDAQ">DPRO</a>) is likely to report earnings for its fourth quarter.
&bull; VNET Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNET#NASDAQ">VNET</a>) is projected to report quarterly loss at $0.18 per share on revenue of $279.03 million.
&bull; RH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RH#NYSE">RH</a>) is estimated to report quarterly earnings at $1.67 per share on revenue of $777.48 million.
&bull; American Shared Hospital (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/AMS#AMEX">AMS</a>) is estimated to report quarterly earnings at $0.02 per share on revenue of $5.19 million.
&bull; Cosan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CSAN#NYSE">CSAN</a>) is likely to report quarterly earnings at $0.16 per share on revenue of $7.45 billion.
&bull; Greenidge Generation Hldg (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GREE#NASDAQ">GREE</a>) is estimated to report quarterly earnings at $0.25 per share on revenue of $26.70 million.
&bull; Gaia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GAIA#NASDAQ">GAIA</a>) is estimated to report quarterly loss at $0.02 per share on revenue of $21.00 million.
&bull; Allied Gaming (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGAE#NASDAQ">AGAE</a>) is projected to report earnings for its fourth quarter.
&bull; Jefferies Financial Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JEF#NYSE">JEF</a>) is likely to report quarterly earnings at $0.75 per share on revenue of $1.52 billion.
&bull; LogicMark (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGMK#NASDAQ">LGMK</a>) is expected to report quarterly loss at $1.73 per share on revenue of $2.28 million.
&bull; H.B. Fuller (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>) is projected to report quarterly earnings at $0.64 per share on revenue of $825.03 million.
&bull; Sprinklr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXM#NYSE">CXM</a>) is likely to report quarterly earnings at $0.09 per share on revenue of $188.73 million.
&bull; Dynagas LNG Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLNG#NYSE">DLNG</a>) is expected to report quarterly earnings at $0.30 per share on revenue of $38.21 million.
&bull; Durect (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRRX#NASDAQ">DRRX</a>) is estimated to report quarterly loss at $0.33 per share on revenue of $2.48 million.
&bull; Celcuity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELC#NASDAQ">CELC</a>) is expected to report earnings for its fourth quarter.
&bull; BioCardia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCDA#NASDAQ">BCDA</a>) is estimated to report quarterly loss at $0.11 per share on revenue of $90 thousand.
&bull; Consolidated Water Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CWCO#NASDAQ">CWCO</a>) is likely to report quarterly earnings at $0.44 per share on revenue of $45.25 million.
&bull; Silver Spike Investment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSIC#NASDAQ">SSIC</a>) is projected to report quarterly earnings at $0.27 per share on revenue of $3.37 million.
&bull; Urban-gro (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UGRO#NASDAQ">UGRO</a>) is estimated to report quarterly loss at $0.13 per share on revenue of $28.94 million.
&bull; PLBY Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLBY#NASDAQ">PLBY</a>) is estimated to report quarterly loss at $0.14 per share on revenue of $32.27 million.
&bull; Usio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USIO#NASDAQ">USIO</a>) is projected to report quarterly earnings at $0.00 per share on revenue of $20.43 million.
&bull; Franklin Covey (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FC#NYSE">FC</a>) is estimated to report quarterly earnings at $0.05 per share on revenue of $62.02 million.
&bull; Super League Enterprise (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLE#NASDAQ">SLE</a>) is estimated to report quarterly loss at $1.20 per share on revenue of $9.30 million.
&bull; Spectral AI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDAI#NASDAQ">MDAI</a>) is estimated to report quarterly loss at $0.40 per share on revenue of $4.60 million.
&bull; Strata Skin Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSKN#NASDAQ">SSKN</a>) is estimated to report quarterly loss at $0.02 per share on revenue of $10.01 million.
&bull; Verint Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNT#NASDAQ">VRNT</a>) is estimated to report quarterly earnings at $0.97 per share on revenue of $263.12 million.
&bull; Eastside Distilling (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EAST#NASDAQ">EAST</a>) is projected to report quarterly loss at $0.90 per share on revenue of $3.68 million.
&bull; Braze (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRZE#NASDAQ">BRZE</a>) is likely to report quarterly loss at $0.05 per share on revenue of $124.86 million.
&bull; Oncology Institute (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TOI#NASDAQ">TOI</a>) is expected to report quarterly loss at $0.11 per share on revenue of $82.04 million.
&bull; Aqua Metals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AQMS#NASDAQ">AQMS</a>) is expected to report quarterly loss at $0.05 per share on revenue of $50 thousand.
&bull; Kingstone Companies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KINS#NASDAQ">KINS</a>) is estimated to report quarterly loss at $0.08 per share on revenue of $29.65 million.
&bull; MillerKnoll (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLKN#NASDAQ">MLKN</a>) is projected to report quarterly earnings at $0.44 per share on revenue of $909.50 million.
&bull; Rumble (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUM#NASDAQ">RUM</a>) is likely to report quarterly loss at $0.22 per share on revenue of $28.13 million.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

AGAE

AQMS

BCDA

BRZE

CELC

CLRB

CMCT

CSAN

CTAS

CWCO

DLNG

DPRO

DRRX

DTIL

EAST

EDAP

GAIA

GLYC

GREE

KINS

LGMK

LOCL

MDAI

MLKN

PDSB

PLBY

SNDA

SSIC

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Earnings Scheduled For March 27, 2024

UniFirst (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>) is set to give its latest quarterly earnings report on Wednesday, 2024-03-27. Here's what investors need to know before the announcement.
Analysts estimate that UniFirst will report an earnings per share (EPS) of $1.42. 
UniFirst bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company beat EPS by $0.20, which was followed by a 2.69% drop in the share price the next day.
Here's a look at UniFirst's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>2.18</td>
<td>1.63</td>
<td>1.79</td>
<td>1.38</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>2.38</td>
<td>1.75</td>
<td>1.66</td>
<td>1.39</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-3.0%</td>
<td>-3.0%</td>
<td>1.0%</td>
<td>0.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1711476031_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of UniFirst were trading at $168.69 as of March 25. Over the last 52-week period, shares are down 3.23%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<a href="https://www.benzinga.com/quote/UNF/earnings">To track all earnings releases for UniFirst visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview For UniFirst

UniFirst Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unf#NYSE">UNF</a>) is expected to release earnings results for its second quarter, before the <a href="https://www.benzinga.com/quote/UNF/earnings">opening bell on March 27, 2024.</a>
Analysts expect the Wilmington, Massachusetts-based company to report quarterly earnings at $1.43 per share, up from $1.39 per share in the year-ago quarter. UniFirst is projected to report quarterly revenue of $587.84 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Jan. 3, UniFirst said first-quarter sales grew 9.5% Y/Y to $593.5 million, beating the consensus of $589.6 million. 
UniFirst shares fell 0.8% to close at $168.69 on Monday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie"> Analyst Stock Ratings </a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let&rsquo;s have a look at how Benzinga&rsquo;s most-accurate <a href="https://www.benzinga.com/quote/UNF/analyst-ratings"> analysts have rated the company </a> in the recent period.
<ul>
<li>Barclays analyst Manav Patnaik maintained an Equal-Weight rating and boosted the price target from $160 to $180 on Feb. 29, 2024. This analyst has an accuracy rate of 76%.</li>
<li>Baird analyst Andrew Wittmann downgraded the stock from Outperform to Neutral with a price target of $185 on Jan. 4, 2024. This analyst has an accuracy rate of 80%.</li>
<li>JP Morgan analyst Andrew Steinerman maintained an Underweight rating and increased the price target from $150 to $160 on Oct. 19, 2023. This analyst has an accuracy rate of 81%.</li>
<li>UBS analyst Joshua Chan initiated coverage on the stock with a Neutral rating and a price target of $185 on June 1, 2023. This analyst has an accuracy rate of 76%.</li>
</ul>
&nbsp;
Read This Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/03/37908125/cramer-isnt-knocking-this-pharma-firm-anymore-as-a-matter-of-fact-im-going-in"> Cramer Isn&#39;t &#39;Knocking&#39; This Pharma Firm Anymore: &#39;As A Matter Of Fact, I&#39;m Going In&#39; </a>

UniFirst Likely To Report Higher Q2 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Barclays analyst Manav Patnaik maintains UniFirst (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>) with a Equal-Weight and raises the price target from $160 to $180.

Barclays Maintains Equal-Weight on UniFirst, Raises Price Target to $180

The most oversold stocks in the industrials presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi"> RSI is below 30</a>, according to <a href="https://pro.benzinga.com/"> Benzinga Pro</a>.
Here&rsquo;s the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3>EVI Industries, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/evi#NYSE">EVI</a>)</h3>
<ul>
<li>On Nov. 9, EVI Industries posted a decline in first-quarter EPS. Henry M. Nahmad, EVI&rsquo;s Chairman and CEO, commented, &quot;EVI delivered record revenue and gross profit during the quarter. Our results are a testament to the dedication of our team and their thoughtful execution of various initiatives they have undertaken to drive growth, modernize operations, and improve profitability.&rdquo; The company&rsquo;s stock fell around 12% over the past month and has a <a href="https://www.benzinga.com/quote/EVI">52-week low of $17.00 </a>.</li>
<li>RSI Value: 22.88</li>
<li>EVI Price Action: Shares of EVI Industries fell 2.5% to close at $20.81 on Tuesday.</li>
</ul>
<h3>UniFirst Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unf#NYSE">UNF</a>)</h3>
<ul>
<li>On Jan. 3, UniFirst said first-quarter sales grew 9.5% Y/Y to $593.5 million, beating the consensus of $589.6 million. UniFirst reiterated revenue guidance of $2.415 billion- $2.435 billion but sees the lower half of the range as more likely achievable due to recent trends in its Core Laundry Operations in the latter half of the quarter. The company&rsquo;s stock fell around 7% over the past month. It <a href="https://www.benzinga.com/quote/UNF"> has a 52-week low </a> of $150.50.</li>
<li>RSI Value: 29.39</li>
<li>UNF Price Action: Shares of UniFirst fell 0.9% to close at $167.44 on Tuesday.</li>
</ul>
<h3>John Bean Technologies Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jbt#NYSE">JBT</a>)</h3>
<ul>
<li>On Dec. 13, JBT submitted enhanced proposal to acquire Marel hf for &euro;3.40 per share. The company&rsquo;s stock fell around 12% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/JBT"> low of $90.21.</a></li>
<li>RSI Value: 21.65</li>
<li>JBT Price Action: Shares of John Bean Technologies fell 2% to close at $91.96 on Tuesday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/01/36642551/tilray-brands-and-2-other-stocks-under-2-insiders-are-buying"> Tilray Brands And 2 Other Stocks Under $2 Insiders Are Buying </a>

UniFirst (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unf#NYSE">UNF</a>) had a decent first quarter but provided weak guidance, sending shares down nearly 10%. As bad as the move sounds, it&#39;s a knee-jerk reaction in a stock whose future is bright. While guidance was weak, the company continues to expect growth and margin improvement driven by organic gains, penetration and recent acquisitions, all of which will aid cash flow, profits and capital returns. Regarding capital returns, this stock is reminiscent of another high-quality growth stock that happens to be in the same industry: Cintas (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ctas#NASDAQ">CTAS</a>).&nbsp;
Cintas leveraged its fortress balance sheet to produce triple-digit revenue growth over the last ten years while paying dividends and buying back shares, so this is no idle comparison. In that time, Cintas&#39; share price increased more than 500%, not counting the dividend.&nbsp;
Cintas&#39;s dividend isn&#39;t a high-yield but is among the most reliable on Wall Street. The payout is worth about 1% at face value but has grown 460% since 2015 and is on track to grow robustly. Cintas pays only 36% of its earnings as dividends and has ample coverage to continue annual increases without earnings growth, and growth is in the forecast. Analysts expect Cintas to grow its earnings by double-digits this year and next.&nbsp;
<img alt="Cintas Stock chart " class="aligncenter" src="https://www.marketbeat.com/logos/articles/med_20240103094636_chart-ctas-132024ver001.png" style="height:439px; width:914px" />
<h2>UniFirst falls on weak outlook; company continues to grow</h2>
UniFirst had a solid quarter in Q1 2024, producing $593.5 million in net revenue for a gain of 9.5% compared to last year. The top-line results outpaced the Marketbeat.com consensus by 100 basis points and are compounded by a widening margin. Strength was seen in both segments, with core operations growing by 9.8%, including acquisitions and 5.2% organically. Specialty Garments, a small portion of revenue, grew by 1.3% but posted the largest improvement in margin.&nbsp;
Margin improvement is significant, with CRM, ERP and branding initiatives aiding growth and leverage. The company reported a 22.% improvement in operating income, a 24.6% increase in net income and a 25% increase in diluted earnings to beat consensus by a nickel.&nbsp;
The bad news is that quarter-ending trends in the core business led management to dampen the outlook for the year. Management reiterated its previous guidance, which is shy of the consensus estimate, and cautioned that results would likely fall in the lower half of the range. Even so, management expects 8% growth this year at the range&#39;s low end, and growth will likely persist in F2025.&nbsp;
Labor markets remain resilient despite an expectation for slowing. The takeaway from the labor data is that labor markets are still in excellent health relative to the pre-pandemic period. Because the Fed has signaled a peak to interest rates and expects rate cuts to begin this year, investors may also expect to see business investment and hiring pick up in response. Hiring is good news for UniFirst and Cintas. The caveat to that outlook is that the first interest rate cuts are not seriously expected until mid-year.&nbsp;
<h2>UniFirst cheap compared to Cintas, on track for dividend growth</h2>
UniFirst is in a different position than Cintas but is on track to follow in its footsteps, which is true for the dividend. The company pays a low 17% of its earnings with earnings growth in the forecast and a fortress balance sheet to back it up, so it can sustain increases similarly.&nbsp;
As it is, UniFirst has only ever increased its payment and has made consecutive annual increases for three years. Assuming that UNF continues to increase at the current pace, near 30%, it should have no trouble getting the yield up to match Cintas and may even spark a price-multiple expansion<a href="https://www.marketbeat.com/originals/unifirst-undervalued-at-rock-bottom-prices/"> </a>within the next year or two.&nbsp;
UniFirst is cheap, trading at 24X earnings compared to Cintas 45X, but there are history, size and dividend payments in the balance. Cintas is larger, has a longer history of dividend payments and increases, and pays a larger portion of earnings, so it should command a higher value.
<h2>The technical outlook: UniFirst falls to support, buying the dip</h2>
The price action in UniFirst fell nearly 10% after the opening and may remain under pressure for the next few months or quarters, but support is evident. Buyers are holding prices above critical support near $161, which has been the floor for the last two years. Assuming the market can hold at this level, shares of UNF should move sideways within their range until later in the year, when economic activity is expected to improve.&nbsp;
<img alt="UniFirst stock chart " class="aligncenter" src="https://www.marketbeat.com/logos/articles/med_20240103094647_chart-unf-132023ver001.png" style="height:439px; width:914px" />
The article &quot;<a href="https://www.marketbeat.com/originals/unifirst-stock-falls-into-the-buy-zone/">UniFirst stock falls into the buy zone</a>&quot; first appeared on MarketBeat.

UniFirst Stock Falls Into The Buy Zone

Baird analyst Andrew Wittmann downgrades UniFirst (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>) from Outperform to Neutral and announces $185 price target.

Downgrades

Baird Downgrades UniFirst to Neutral, Announces $185 Price Target

The CNN Money Fear and Greed index showed a further decline in overall market sentiment, with the index moving to the &quot;Greed&quot; zone on Wednesday.
U.S. stocks closed lower on Wednesday following the release of Fed minutes, with the Nasdaq Composite recording losses for a fourth straight session.
The Fed&rsquo;s latest minutes from the December meeting showed that policymakers acknowledged that interest rates are likely at or near the cycle&rsquo;s peak, indicating a potential shift in monetary policy as the <a href="https://www.benzinga.com/top-stories/24/01/36476652/fed-minutes-suggest-interest-rates-are-at-cycles-peak-but-put-imminent-cuts-in-doubt">economic landscape evolves</a>.
Major indices recorded sharp gains last year, with the S&amp;P 500 surging over 24% and the Nasdaq gaining 43% in 2023.
Shares of UniFirst Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unf#NYSE">UNF</a>) fell around 7% on Wednesday after the company released earnings for its first quarter.
On the economic data front, the number of job openings fell by 62,000 from the prior month to 8.790 million in November, compared to market estimates of 8.85 million. The ISM manufacturing PMI rose to 47.4 in December from 46.7 in the prior month, topping market estimates of 47.1. However, the recent reading signaled a contraction in factory activity for the 14th month.
Most sectors on the S&amp;P 500 closed on a negative note, with real estate and consumer discretionary stocks recording the biggest losses on Wednesday. However, energy and utilities stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 285 points to 37,430.19 on Wednesday. The S&amp;P 500 fell 0.80% at 4,704.81, while the Nasdaq Composite fell 1.18% at 14,592.21 during Wednesday&rsquo;s session.
Investors are awaiting earnings results from Lamb Weston Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lw#NYSE">LW</a>), Conagra Brands, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cag#NYSE">CAG</a>), and Walgreens Boots Alliance, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wba#NASDAQ">WBA</a>) today.
At a current reading of 72.3, the index moved to the &quot;Greed&quot; zone on Wednesday versus a prior reading of 77.1.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: <a href="https://www.benzinga.com/news/24/01/36468004/top-4-risk-off-stocks-that-may-collapse-this-month"> Top 4 Risk Off Stocks That May Collapse This Month</a>

Fear & Greed Index Moves To 'Greed' Zone; Nasdaq Tumbles For 4th Consecutive Day

Shares of SoFi Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sofi#NASDAQ">SOFI</a>) fell sharply during Wednesday&rsquo;s session after Keefe, Bruyette &amp; Woods <a href="https://www.benzinga.com/news/24/01/36470244/sofi-stock-is-sliding-wednesday-whats-going-on">downgraded rating on the stock</a>.
Keefe, Bruyette &amp; Woods analyst Michael Perito downgraded SoFi from a Market Perform rating to an Underperform rating and lowered the price target from $7.50 to $6.50, citing recent outperformance and a change in the analyst&#39;s model.
SoFi Technologies shares dipped 12.8% to $8.41 on Wednesday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>NexImmune, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nexi#NASDAQ">NEXI</a>) shares rose 150.8% to $6.14 after gaining over 6% on Tuesday.</li>
<li>Trinity Place Holdings Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tphs#NYSE">TPHS</a>) rose gained 62.6% to $0.1857. The company reported in 8K Filing, <a href="https://www.benzinga.com/money/mortgage-lenders-no-tax-returns/">mortgage</a> lender agreed to extend the mortgage loan forbearance period to Jan. 31, 2024.</li>
<li>Sigma Additive Solutions, Inc.(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sasi#NASDAQ">SASI</a>) gained 60.3% to $4.65. Sigma Additive Solutions, announced in an 8-K Filing, the approval of the issuance of the shares of common stock in exchange for all the capital stock of NextTrip Holdings.</li>
<li>ABVC BioPharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/abvc#NASDAQ">ABVC</a>) jumped 58.3% to $1.90. ABVC BioPharma and its subsidiary received $460 million from AiBtl BioPharma as the first milestone payment of global licensing fees.</li>
<li>Sidus Space, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sidu#NASDAQ">SIDU</a>) rose 48.4% to $10.35. Sidus Space secured NOAA approval to provide imaging services to government and commercial customers.</li>
<li>Brera Holdings PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/brea#NASDAQ">BREA</a>) shares gained 32.8% to $0.97.</li>
<li>First Wave BioPharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fwbi#NASDAQ">FWBI</a>) shares gained 31.2% to $5.01. Roth MKM raised price target on the stock to $40.</li>
<li>Elicio Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eltx#NASDAQ">ELTX</a>) gained 29% to $7.65.</li>
<li>TDCX Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tdcx#NYSE">TDCX</a>) gained 28% to $6.18 after it disclosed receiving a preliminary non-binding acquisition offer.</li>
<li>Ucommune International Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/uk#NASDAQ">UK</a>) shares gained 27% to $5.14 after gaining 9% on Tuesday.</li>
<li>OneMedNet Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/onmd#NASDAQ">ONMD</a>) jumped 24% to $0.93. The company said OneMedNet iRWD(TM) is now available on AWS Data Exchange.</li>
<li>Hongli Group Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hlp#NASDAQ">HLP</a>) rose 23.6% to $2.68.</li>
<li>Aeva Technologies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aeva#NYSE">AEVA</a>) gained 19.3% to $0.8715. Aeva said that one of the top global automotive OEMs has selected Aeva as its Tier 1 LiDAR supplier for its series production vehicle program.</li>
<li>Dyne Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dyn#NASDAQ">DYN</a>) shares jumped 16.2% to $15.17. Dyne Therapeutics released initial clinical data from its ACHIEVE trial of DYNE-101 in patients with myotonic dystrophy type 1 (DM1) and its DELIVER trial of DYNE-251 in patients with Duchenne muscular dystrophy (DMD) who are amenable to exon 51 skipping.</li>
<li>Voyager Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vygr#NASDAQ">VYGR</a>) rose 16.1% to $10.45.</li>
<li>Carbon Revolution Public Limited Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crev#NASDAQ">CREV</a>) rose 15.8% to $27.01.</li>
<li>Gaotu Techedu Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gotu#NYSE">GOTU</a>) rose 15.1% to $3.7601.</li>
<li>Arrowhead Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/arwr#NASDAQ">ARWR</a>) gained 7% to $33.17. Arrowhead Pharmaceuticals reported pricing of offering of 15.79 million shares at $28.50 per share.</li>
<li>Anavex Life Sciences Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avxl#NASDAQ">AVXL</a>) gained 6.5% to $6.44. HC Wainwright &amp; Co. analyst Raghuram Selvaraju maintained Anavex Life Sciences with a Buy and lowered the price target from $54 to $40.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>E-Home Household Service Holdings Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ejh#NASDAQ">EJH</a>) fell 60.2% to $1.52.</li>
<li>RiskOn International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/roi#NASDAQ">ROI</a>) shares fell 37.1% to $0.2886. RiskOn International, in partnership with Meetkai, announced the launch of &quot;askROI.com.&quot;</li>
<li>Infobird Co., Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ifbd#NASDAQ">IFBD</a>) tumbled 35% to $0.8922.</li>
<li>Pinstripes Holdings Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pnst#NYSE">PNST</a>) shares fell 29.1% to $9.44 after surging 22% on Tuesday. Pinstripes and Banyan Acquisition Corporation announced they have closed their previously announced business combination, which was approved by Banyan&rsquo;s stockholders at a meeting on Dec. 27, 2023.</li>
<li>Esperion Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/espr#NASDAQ">ESPR</a>) dipped 25.5% to $2.1750 after the company announced a $125 million amendment to the collaboration with Japanese pharma company Daiichi Sankyo Co., Ltd.</li>
<li>Nemaura Medical Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nmrd#NASDAQ">NMRD</a>) fell 25.5% to $0.1403.</li>
<li>Peraso Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prso#NASDAQ">PRSO</a>) fell 22.4% to $7.33.</li>
<li>Taoping Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/taop#NASDAQ">TAOP</a>) fell 21.1% to $1.4830.</li>
<li>Kelso Technologies Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kiq#NASDAQ">KIQ</a>) fell 20.8% to $0.1814.</li>
<li>The OLB Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/olb#NASDAQ">OLB</a>) declined 20.7% to $0.8001.</li>
<li>Signing Day Sports, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sgn#NYSE">SGN</a>) fell 20.7% to $0.8345 after declining around 7% on Tuesday.</li>
<li>Hallmark Financial Services, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hall#NASDAQ">HALL</a>) declined 20.6% to $0.9913.</li>
<li>TC Biopharm (Holdings) Plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tcbp#NASDAQ">TCBP</a>) fell 18.5% to $2.55. TC BioPharm announced additional cost reduction steps to improve financial standing and streamline efficiencies.</li>
<li>Tenax Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tenx#NASDAQ">TENX</a>) dipped 16.5% to $17.35.</li>
<li>Jin Medical International Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zjyl#NASDAQ">ZJYL</a>) fell 15.3% to $216.00.</li>
<li>Porch Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prch#NASDAQ">PRCH</a>) fell 13.1% to $2.6405.</li>
<li>Yoshiharu Global Co. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/yosh#NASDAQ">YOSH</a>) shares fell 11.4% to $6.01 after gaining 25% on Tuesday.</li>
<li>SunPower Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/spwr#NASDAQ">SPWR</a>) dipped 11.3% to $4.3250.</li>
<li>Sunrun Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/run#NASDAQ">RUN</a>) fell 11.1% to $17.30.</li>
<li>Addentax Group Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/atxg#NASDAQ">ATXG</a>) shares fell 10.8% to $1.3199.</li>
<li>Inspire Medical Systems, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/insp#NYSE">INSP</a>) fell 10% to $169.13.</li>
<li>Livent Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lthm#NASDAQ">LTHM</a>) fell 9.8% to $16.26.</li>
<li>Polished.com Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pol#NYSE">POL</a>) fell 9.6% to $8.30 after jumping 52% on Tuesday.</li>
<li>Zoomcar Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zcar#NASDAQ">ZCAR</a>) shares fell 9% to $2.72 after dipping around 19% on Tuesday.</li>
<li>Xerox Holdings Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xrx#NYSE">XRX</a>) fell 8.8% to $16.44.</li>
<li>Kohl&#39;s Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kss#NYSE">KSS</a>) dipped 8.4% to $25.67.</li>
<li>UniFirst Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unf#NYSE">UNF</a>) fell 8.4% to $165.16 following first-quarter results.</li>
<li>Opendoor Technologies Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/open#NASDAQ">OPEN</a>) fell 7.9% to $3.9409. JMP Securities analyst Nicholas Jones maintained Opendoor Technologies with an Outperform and raised the price target from $3.5 to $5.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36470306/ethereum-falls-below-2-300-bonk-becomes-top-loser"> Ethereum Falls Below $2,300; Bonk Becomes Top Loser</a>

Small Cap

Movers

ABVC

AEVA

ARWR

ATXG

AVXL

BREA

CREV

ELTX

ESPR

FWBI

GSX Techedu Inc. American Depositary Shares

GOTU

HALL

IFBD

INSP

LTHM

NEXI

NMRD

ONMD

OPEN

PNST

PRCH

PRSO

SASI

SIDU

SOFI

SPWR

TAOP

TCBP

TDCX

TENX

TPHS

VYGR

YOSH

ZCAR

ZJYL

Why SoFi Technologies Shares Are Trading Lower By Around 13%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

WIIM

UniFirst shares are trading lower after the company reported Q1 financial results.

UniFirst Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unf#NYSE">UNF</a>) shares are trading lower after the company&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/24/01/g36467669/unifirst-announces-financial-results-for-the-first-quarter-of-fiscal-2024" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reported Q1 FY24 results</a>.
Sales grew 9.5% Y/Y to $593.5 million, beating the&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/24/01/g36467669/unifirst-announces-financial-results-for-the-first-quarter-of-fiscal-2024" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">consensus of $589.6 million</a>.
Adjusted EPS of $2.38 beat the&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/calendars/earnings" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">analyst consensus of $2.18</a>.
Q1 FY24 and Q1 FY23 results included costs attributable to its customer relationship management system, enterprise resource planning system, and branding initiatives, which curbed operating income and EBITDA by $2.9 million and $10.0 million, respectively.
Segment Revenue: Core Laundry Operations rose 9.8% Y/Y to $524.0 million, and Specialty Garments revenues grew 1.3% Y/Y to $44.7 million.
The company&#39;s operating income was up 22.4% Y/Y to $53.1 million in the quarter. Net income increased to $42.3 million from $34.0 million a year ago.
As of November 25, 2023, the company held $88.8 million in cash and cash equivalents and no long-term debt outstanding.
On October 24, 2023, UNF&#39;s Board of Directors authorized a new share repurchase program to buy up to $100.0 million worth of shares, including the available balance under the share repurchase program previously&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/10/g35401369/unifirst-declares-increased-cash-dividends-new-100-million-share-repurchase-authorization" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">approved on October 18, 2021.</a>&nbsp;
Under the new program, UNF repurchased 1,500 shares for $0.3 million in Q1 FY24. As of November 25, 2023, it had $99.7 million worth of shares remaining under its new program.
On October 24, the company also raised quarterly cash dividends to $0.330 per share and $0.264 on the class B common share.
FY24 Outlook: UniFirst reiterated revenue guidance of $2.415 billion- $2.435 billion but sees the lower half of the range as more likely achievable due to recent trends in its Core Laundry Operations in the latter half of the quarter.
Also, UNF continues to expect EPS of $6.52-$7.16&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/calendars/guidance" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">versus a $7.49 estimate</a>.
Price Action:&nbsp;UNF shares traded lower by 8.79% at $164.55 on the last check Wednesday.

Equities

Mid Cap

Why Uniform & Workwear Company UniFirst Shares Are Dipping Today

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 100 points on Wednesday.
Following the market opening Wednesday, the Dow traded down 0.35% to 37,584.32 while the NASDAQ fell 0.66% to 14,668.39. The S&amp;P 500 also fell, dropping, 0.49% to 4,719.52.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/01/36464063/how-to-earn-500-a-month-from-apple-stock-following-tuesdays-slide"> How To Earn $500 A Month From Apple Stock Following Tuesday&#39;s Slide </a>
&nbsp;
<h3>Leading and Lagging Sectors</h3>
&nbsp;
Health care shares rose by 0.1% on Wednesday.
In trading on Wednesday, materials shares fell by 1.4%.
&nbsp;
<h3>Top Headline</h3>
&nbsp;
Shares of UniFirst Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unf#NYSE">UNF</a>) fell around 7% on Wednesday after the company released earnings for its first quarter.
UniFirst posted quarterly earnings of $2.26 per share, up from $1.81 per share in the year-ago period. The company&rsquo;s sales came in at $593.52 million versus estimates of $589.64 million.
UniFirst continues to expect FY24 revenue of $2.415 billion to $2.435 billion versus expectations of $2.43 billion. The company sees earnings of $6.52 to $7.16 per share, versus market estimates of $7.59 per share.
&nbsp;
<h3>Equities Trading UP</h3>
&nbsp;
NexImmune, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nexi#NASDAQ">NEXI</a>) shares shot up 158% to $6.32 after gaining over 6% on Tuesday.
Shares of Trinity Place Holdings Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tphs#NYSE">TPHS</a>) got a boost, surging 65% to $0.1836. The company reported in 8K Filing, <a href="https://www.benzinga.com/money/mortgage-lenders-no-tax-returns/">mortgage</a> lender agreed to extend the mortgage loan forbearance period to Jan. 31, 2024.
Brera Holdings PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/brea#NASDAQ">BREA</a>) shares were also up, gaining 71% to $1.25.
&nbsp;
<h3>Equities Trading DOWN</h3>
&nbsp;
RiskOn International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/roi#NASDAQ">ROI</a>) shares dropped 32% to $0.3100. RiskOn International, in partnership with Meetkai, announced the launch of &quot;askROI.com.&quot;
Shares of E-Home Household Service Holdings Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ejh#NASDAQ">EJH</a>) were down 26% to $2.83.
Nemaura Medical Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nmrd#NASDAQ">NMRD</a>) was down, falling 26% to $0.1402. 
Nemaura Medical&#39;s board of directors and management team have made the strategic decision to accept Nasdaq&#39;s determination to delist Nemaura Medical and move to the OTC Markets.
Also Check This Out:<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/01/36466493/top-3-industrials-stocks-that-could-blast-off-in-q1"> Top 3 Industrials Stocks That Could Blast Off In Q1 </a>
&nbsp;
<h3>Commodities</h3>
&nbsp;
In commodity news, oil traded up 2% to $71.76 while gold traded down 1.5% at $2,042.10.
Silver traded down 3.2% to $23.19 on Wednesday while copper fell 1% to $3.84.
&nbsp;
<h3>Euro zone</h3>
&nbsp;
European shares were lower today. The eurozone&rsquo;s STOXX 600 fell 1.1%, London&rsquo;s FTSE 100 fell 0.8% while Spain&rsquo;s IBEX 35 Index fell 1.2% The German DAX fell 1.4% French CAC 40 fell 1.9% while Italy&rsquo;s FTSE MIB Index dipped 1.5%.
German jobless rate rose to 5.9% in December from November&#39;s revised reading of 5.8%. The number of people registering as jobless in Spain fell by 1%, reaching 2.71 million for December.
&nbsp;
<h3>Asia Pacific Markets</h3>
&nbsp;
Asian markets closed mostly lower on Wednesday, with Hong Kong&rsquo;s Hang Seng Index falling 0.85% and China&rsquo;s Shanghai Composite Index gaining 0.17%. India&rsquo;s S&amp;P BSE Sensex, meanwhile, fell 0.75%.
The S&amp;P Global Indian manufacturing PMI fell to 54.9 in December from 56.0 in the prior month. Australian CoreLogic Home Value Index increased 0.4% in December versus a 0.6% increase a month ago.
&nbsp;
<h3>Economics</h3>
&nbsp;
Mortgage applications in the U.S. declined by 10.7% in the week ending Dec. 29.

Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/01/36464230/jim-cramer-says-move-on-from-this-energy-stock-its-moved-too-much"> Jim Cramer Says Move On From This Energy Stock: &#39;It&#39;s Moved Too Much&#39; </a>

Dow Dips Over 100 Points Ahead Of Fed Minutes; UniFirst Shares Fall After Q1 Results

UniFirst (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>) reported its Q1 earnings results on Wednesday, January 3, 2024 at 08:00 AM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
UniFirst beat estimated earnings by 9.17%, reporting an EPS of $2.38 versus an estimate of $2.18.
Revenue was up $51.73 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.12 which was followed by a 2.7% drop in the share price the next day.
Here's a look at UniFirst's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.63</td>
<td>1.79</td>
<td>1.38</td>
<td>1.94</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.75</td>
<td>1.66</td>
<td>1.39</td>
<td>2.21</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>568.22M</td>
<td>564.18M</td>
<td>531.67M</td>
<td>527.51M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>571.89M</td>
<td>576.67M</td>
<td>542.69M</td>
<td>541.80M</td>
</tr>
</tbody>
</table>

To track all earnings releases for UniFirst <a href="https://www.benzinga.com/quote/UNF/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

UniFirst: Q1 Earnings Insights

Mr. Sintros&nbsp;continued, &quot;At this time, we continue to expect our revenues for fiscal 2024 to be between&nbsp;$2.415 billion&nbsp;and&nbsp;$2.435 billion, however, due to recent trends in our Core Laundry Operations in the latter half of the quarter we anticipate that the lower half of the range is more likely. We continue to expect diluted earnings per share to be between&nbsp;$6.52&nbsp;and&nbsp;$7.16.&rdquo; As a reminder, our guidance for fiscal 2024 includes one extra week of operations compared to fiscal 2023 due to the timing of our fiscal calendar.

UniFirst Continues To Expects FY24 Revenue $2.415B-$2.435 Vs. Consensus Of $2.43B; Sees EPS $6.52-$7.16 Vs. Consensus Of $7.59

UniFirst (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>) reported quarterly earnings of $2.26 per share which beat the analyst consensus estimate of $2.18 by 3.67 percent. This is a 2.26 percent increase over earnings of $2.21 per share from the same period last year. The company reported quarterly sales of $593.52 million which beat the analyst consensus estimate of $589.64 million by 0.66 percent. This is a 9.55 percent increase over sales of $541.80 million the same period last year.

UniFirst Q1 EPS $2.26, Up From $1.81 YoY, Sales $593.52M Beat $589.64M Estimate

<h3>Companies Reporting Before The Bell</h3>
&bull; UniFirst (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>) is expected to report quarterly earnings at $2.18 per share on revenue of $589.64 million.
<h3>Companies Reporting After The Bell</h3>
&bull; Simulations Plus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLP#NASDAQ">SLP</a>) is estimated to report quarterly earnings at $0.10 per share on revenue of $13.93 million.
&bull; Cal-Maine Foods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CALM#NASDAQ">CALM</a>) is projected to report quarterly earnings at $0.83 per share on revenue of $525.39 million.
&bull; Resources Connection (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGP#NASDAQ">RGP</a>) is projected to report quarterly earnings at $0.18 per share on revenue of $161.94 million.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

CALM

Earnings Scheduled For January 3, 2024

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
UniFirst (NYSE:<a href="https://investorplace.com/stock-quotes/unf-stock-quote/">UNF</a>) just reported results for the second quarter of 2024.<ul><li>UniFirst reported earnings per share of $1.22. This was below the analyst estimate for EPS of $1.42.</li><li>The company reported revenue of $590.71 million.</li><li>This was 0.49% better than the analyst estimate for revenue of $587.84 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/03/unf-stock-earnings-unifirst-for-q2-of-2024/">UNF Stock Earnings: UniFirst Misses EPS, Beats Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

UNF Stock Earnings: UniFirst Misses EPS, Beats Revenue for Q2 2024

UniFirst Corporation (UNF) Q2 2024 Earnings Call Transcript

Unifirst Corp (UNF) said before open Wednesday that it broke even in quarter two 2024. In the same quarter a year ago, the company earned $1.39 per share on revenue of $542.7 million. The stock is up 2.24% to $170.90 after the report.Unifirst Corp's profit margins maintained as both earnings and revenue declined at the sam

Unifirst Corp Up 2.24% To $170.90 After Earnings

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