Unifi (UFI) Upgraded at ValuEngine
ValuEngine upgraded shares of Unifi (NYSE:UFI) from a hold rating to a buy rating in a report released on Sunday morning.
UFI has been the subject of several other research reports. Zacks Investment Research upgraded shares of Unifi from a strong sell rating to a hold rating in a research report on Wednesday, September 27th. CJS Securities initiated coverage on shares of Unifi in a research report on Wednesday, September 20th. They set an outperform rating and a $42.00 target price for the company.
Unifi (UFI) traded up $0.82 during trading hours on Friday, reaching $36.56. The company’s stock had a trading volume of 50,553 shares, compared to its average volume of 45,384. The firm has a market cap of $656.56, a P/E ratio of 20.89 and a beta of 0.84. Unifi has a 12-month low of $26.02 and a 12-month high of $39.21. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.83 and a current ratio of 3.39.
Unifi (NYSE:UFI) last issued its earnings results on Monday, October 23rd. The textile maker reported $0.48 EPS for the quarter, beating the consensus estimate of $0.46 by $0.02. The company had revenue of $164.24 million during the quarter, compared to analysts’ expectations of $163.42 million. Unifi had a net margin of 4.98% and a return on equity of 9.53%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS. analysts forecast 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 stock in a transaction that occurred on Monday, October 30th. The stock was acquired at an average price of $37.74 per share, for a total transaction of $224,515.26. Following the transaction, the director now directly owns 1,120,000 shares in the company, valued at $42,268,800. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert J. Bishop acquired 5,427 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was purchased at an average price of $34.76 per share, with a total value of $188,642.52. Following the transaction, the director now owns 10,288 shares in the company, valued at $357,610.88. The disclosure for this purchase can be found here. Insiders have acquired a total of 17,118 shares of company stock valued at $622,913 in the last quarter. Corporate insiders own 15.40% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP increased its position in shares of Unifi by 58.6% in the 3rd quarter. GSA Capital Partners LLP now owns 76,218 shares of the textile maker’s stock valued at $2,716,000 after buying an additional 28,167 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Unifi in the 3rd quarter valued at $258,000. Royce & Associates LP increased its position in shares of Unifi by 8.9% in the 3rd quarter. Royce & Associates LP now owns 435,503 shares of the textile maker’s stock valued at $15,517,000 after buying an additional 35,500 shares in the last quarter. Impala Asset Management LLC increased its position in shares of Unifi by 1.5% in the 3rd quarter. Impala Asset Management LLC now owns 1,253,980 shares of the textile maker’s stock valued at $44,679,000 after buying an additional 18,683 shares in the last quarter. Finally, OxFORD Asset Management LLP increased its position in shares of Unifi by 173.2% in the 3rd quarter. OxFORD Asset Management LLP now owns 43,233 shares of the textile maker’s stock valued at $1,549,000 after buying an additional 27,410 shares in the last quarter. Institutional investors and hedge funds own 78.30% of the company’s stock.
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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