Unifi (NYSE:UFI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, December 26th.
According to Zacks, “Unifi, Inc. is a global textile solutions provider and one of the world’s leading innovators in manufacturing synthetic and recycled performance fibers. The Company’s proprietary technologies offer increased performance, comfort and style advantages, enabling customers to develop products that perform, look and feel better. Through REPREVE , one of Unifi’s proprietary technologies and the global leader in branded recycled performance fibers, Unifi has transformed more than 10 billion plastic bottles into recycled fiber for new clothing, shoes, home goods and other consumer products. Unifi continually innovates to meet consumer needs in moisture management, thermal regulation, antimicrobial, UV protection, stretch, water repellency and enhanced softness with leading products such as Sorbtek, XS Cross Section technology and Cotton-like technology. Unifi collaborates with many of the world’s most influential brands in the sports apparel, fashion, home, automotive and other industries. “
Several other equities research analysts have also recently weighed in on UFI. CJS Securities assumed coverage on shares of Unifi in a research report on Wednesday, September 20th. They issued an “outperform” rating and a $42.00 price target on the stock. ValuEngine cut shares of Unifi from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th.
Unifi (UFI) opened at $36.36 on Tuesday. Unifi has a 1-year low of $26.02 and a 1-year high of $39.21. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.39 and a quick ratio of 1.83. The company has a market cap of $665.33, a price-to-earnings ratio of 20.78 and a beta of 0.84.
Unifi (NYSE:UFI) last released its earnings results on Monday, October 23rd. The textile maker reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. Unifi had a net margin of 4.98% and a return on equity of 9.53%. The firm had revenue of $164.24 million for the quarter, compared to the consensus estimate of $163.42 million. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. research analysts expect that Unifi will post 1.98 EPS for the current fiscal year.
In other news, Director Kenneth G. Langone acquired 5,949 shares of the business’s stock in a transaction on Monday, October 30th. The shares were acquired at an average price of $37.74 per share, for a total transaction of $224,515.26. Following the completion of the transaction, the director now directly owns 1,120,000 shares of the company’s stock, valued at approximately $42,268,800. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert J. Bishop acquired 5,742 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were purchased at an average price of $36.53 per share, for a total transaction of $209,755.26. Following the transaction, the director now directly owns 10,288 shares of the company’s stock, valued at $375,820.64. The disclosure for this purchase can be found here. Insiders purchased 17,118 shares of company stock worth $622,913 in the last 90 days. 15.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. Impala Asset Management LLC increased its position in Unifi by 1.5% during the third quarter. Impala Asset Management LLC now owns 1,253,980 shares of the textile maker’s stock valued at $44,679,000 after acquiring an additional 18,683 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Unifi by 9.3% during the third quarter. Victory Capital Management Inc. now owns 1,022,282 shares of the textile maker’s stock valued at $36,424,000 after purchasing an additional 86,563 shares during the period. Vanguard Group Inc. boosted its stake in shares of Unifi by 3.4% during the second quarter. Vanguard Group Inc. now owns 841,492 shares of the textile maker’s stock valued at $25,918,000 after purchasing an additional 27,563 shares during the period. Royal Bank of Canada boosted its stake in shares of Unifi by 16.5% during the second quarter. Royal Bank of Canada now owns 634,731 shares of the textile maker’s stock valued at $19,549,000 after purchasing an additional 89,921 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Unifi by 6.7% during the second quarter. Northern Trust Corp now owns 501,884 shares of the textile maker’s stock valued at $15,459,000 after purchasing an additional 31,589 shares during the period. Institutional investors and hedge funds own 78.30% of the company’s stock.
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Unifi, Inc is a manufacturing company. The Company processes and sells commodity yarns, specialized yarns and premier value-added (PVA) yarns. The Company operates through three segments: Polyester segment, Nylon segment and International segment. The Company’s polyester products include polyester polymer beads (Chip), partially oriented yarn (POY), textured, solution and package dyed, twisted, beamed and draw wound yarns.
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