Unifi (UFI) Downgraded by ValuEngine to Hold

Unifi (NYSE:UFI) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

A number of other research firms have also recently commented on UFI. TheStreet cut shares of Unifi from a “b” rating to a “c+” rating in a research report on Wednesday, April 25th. Zacks Investment Research cut shares of Unifi from a “hold” rating to a “sell” rating in a research report on Saturday, April 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Unifi has an average rating of “Hold” and an average price target of $42.00.

UFI opened at $32.37 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.49 and a quick ratio of 1.91. Unifi has a 12 month low of $27.98 and a 12 month high of $39.21. The firm has a market capitalization of $597.20 million, a P/E ratio of 17.31 and a beta of 0.69.

Unifi (NYSE:UFI) last released its quarterly earnings data on Wednesday, April 25th. The textile maker reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.39). Unifi had a net margin of 4.58% and a return on equity of 7.10%. The firm had revenue of $165.87 million during the quarter, compared to the consensus estimate of $166.12 million. sell-side analysts forecast that Unifi will post 1.21 earnings per share for the current fiscal year.

In other news, Director Robert J. Bishop bought 39,038 shares of the stock in a transaction on Wednesday, May 2nd. The stock was purchased at an average price of $30.50 per share, for a total transaction of $1,190,659.00. Following the acquisition, the director now owns 10,288 shares in the company, valued at $313,784. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert J. Bishop bought 15,000 shares of the stock in a transaction on Friday, June 1st. The shares were purchased at an average price of $32.07 per share, with a total value of $481,050.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 72,488 shares of company stock valued at $2,235,712. 15.40% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its holdings in Unifi by 2.5% during the 4th quarter. Bank of New York Mellon Corp now owns 276,935 shares of the textile maker’s stock worth $9,934,000 after purchasing an additional 6,662 shares in the last quarter. Royce & Associates LP increased its holdings in Unifi by 3.2% during the 4th quarter. Royce & Associates LP now owns 449,503 shares of the textile maker’s stock worth $16,124,000 after purchasing an additional 14,000 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Unifi by 15.7% during the 4th quarter. Two Sigma Advisers LP now owns 45,581 shares of the textile maker’s stock worth $1,635,000 after purchasing an additional 6,200 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Unifi by 6.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 152,996 shares of the textile maker’s stock worth $5,488,000 after purchasing an additional 8,612 shares in the last quarter. Finally, Kennedy Capital Management Inc. increased its holdings in Unifi by 38.1% during the 4th quarter. Kennedy Capital Management Inc. now owns 180,992 shares of the textile maker’s stock worth $6,492,000 after purchasing an additional 49,959 shares in the last quarter. Hedge funds and other institutional investors own 79.45% of the company’s stock.

About Unifi

Unifi, Inc, together with its subsidiaries, manufactures and sells polyester and nylon yarns. The company operates through three segments: Polyester, Nylon, and International. The Polyester segment manufactures and sells polyester plastic bottle flakes, polymer beads, partially oriented yarns, textured, solution and package dyed, twisted, beamed, and draw wound yarns to other yarn manufacturers, and knitters and weavers that produce yarn and/or fabric for the apparel, hosiery, home furnishings, automotive, industrial, and other end-use markets in the United States and El Salvador.

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