UniFirst shares on pace for best day in 15 years after results

UniFirst

26/06/2024 16:18

** UniFirst shares up 12.5% to $173.83, on track for biggest
daily pct gain since April 3, 2009
    ** Stock had earlier risen to $176.50, the highest level
since March 28
    ** The provider of workplace uniforms and protective work
gear posted Q3 EPS of $2.24 on revenue of $603.33 mln, topping
analysts estimates of $1.86 per share and $601.29 mln in
revenue, per LSEG data 
    ** UNF kept its 2024 revenue outlook between $2.415 to
$2.425 bln but said it now sees EPS view to between $7.17 to
$7.49, including an extra week of operations compared to 2023,
vs current Street estimates of $7.45 per share and $2.42 bln in
revenue 
    ** Among the 6 analysts that cover UniFirst Corp, the
breakdown of recommendations 5 "hold" and 1 "sell" or "strong
sell" rating
    ** Median price target of $185 is unchanged since April 26
but up from $182 on March 26
    *Despite the jump, UNF shares still down ~5% YTD vs ~3 gain
in S&P 600 industrials index  .SPSMCI  







 (Reporting by Chuck Mikolajczak)
 ((charles.mikolajczak@tr.com; @ChuckMik;))