Unifi (UFI) Downgraded by Zacks Investment Research to Sell
Unifi (NYSE:UFI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
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. “
Separately, ValuEngine cut shares of Unifi from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th.
Unifi (NYSE:UFI) last posted its earnings results on Thursday, January 25th. The textile maker reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. Unifi had a net margin of 5.97% and a return on equity of 9.72%. The firm had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $159.17 million. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. sell-side analysts forecast that Unifi will post 1.95 earnings per share for the current year.
In related news, Director Robert J. Bishop acquired 5,427 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was acquired at an average cost of $34.76 per share, for a total transaction of $188,642.52. Following the completion of the acquisition, the director now directly owns 10,288 shares of the company’s stock, valued at approximately $357,610.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert J. Bishop acquired 5,742 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was bought at an average price of $36.53 per share, with a total value of $209,755.26. Following the completion of the acquisition, 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. Company insiders own 15.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of UFI. Royal Bank of Canada boosted its holdings in shares of Unifi by 16.5% in the second quarter. Royal Bank of Canada now owns 634,731 shares of the textile maker’s stock valued at $19,549,000 after acquiring an additional 89,921 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Unifi by 9.3% in 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 acquiring an additional 86,563 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Unifi by 9.2% in the fourth quarter. LSV Asset Management now owns 516,241 shares of the textile maker’s stock valued at $18,517,000 after acquiring an additional 43,300 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of Unifi by 8.9% in the third quarter. Royce & Associates LP now owns 435,503 shares of the textile maker’s stock valued at $15,517,000 after acquiring an additional 35,500 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Unifi by 6.7% in the second quarter. Northern Trust Corp now owns 501,884 shares of the textile maker’s stock valued at $15,459,000 after acquiring an additional 31,589 shares in the last quarter. Institutional investors and hedge funds own 78.24% of the company’s stock.
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Unifi Company Profile
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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