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's strength on days when prices go up to its strength on days when prices go down. When compared to a stock'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 RSI is below 30, according to Benzinga Pro.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
EVI Industries, Inc. (NYSE:EVI)
- On Nov. 9, EVI Industries posted a decline in first-quarter EPS. Henry M. Nahmad, EVI's Chairman and CEO, commented, "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." The company's stock fell around 12% over the past month and has a 52-week low of $17.00 .
- RSI Value: 22.88
- EVI Price Action: Shares of EVI Industries fell 2.5% to close at $20.81 on Tuesday.
UniFirst Corporation (NYSE:UNF)
- 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's stock fell around 7% over the past month. It has a 52-week low of $150.50.
- RSI Value: 29.39
- UNF Price Action: Shares of UniFirst fell 0.9% to close at $167.44 on Tuesday.
John Bean Technologies Corporation (NYSE:JBT)
- On Dec. 13, JBT submitted enhanced proposal to acquire Marel hf for €3.40 per share. The company's stock fell around 12% over the past month and has a 52-week low of $90.21.
- RSI Value: 21.65
- JBT Price Action: Shares of John Bean Technologies fell 2% to close at $91.96 on Tuesday.
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