Unifi, Inc. (NYSE:UFI) Posts Earnings Results, Beats Expectations By $0.03 EPS
Unifi, Inc. (NYSE:UFI) announced its quarterly earnings results on Wednesday. The textile maker reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03, MarketWatch Earnings reports. The business had revenue of $171.30 million for the quarter, compared to analysts’ expectations of $165.18 million. Unifi had a return on equity of 10.56% and a net margin of 5.22%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 EPS.
Shares of Unifi (UFI) traded up 4.88% during trading on Wednesday, reaching $31.78. The company had a trading volume of 39,471 shares. Unifi has a 12-month low of $24.82 and a 12-month high of $34.70. The company has a market cap of $579.06 million, a P/E ratio of 17.46 and a beta of 0.79. The firm has a 50-day moving average of $29.70 and a 200-day moving average of $28.48.
In related news, Director Kenneth G. Langone acquired 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The shares were acquired at an average cost of $28.06 per share, with a total value of $701,500.00. Following the transaction, the director now owns 1,090,797 shares of the company’s stock, valued at approximately $30,607,763.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 16.40% of the company’s stock.
An institutional investor recently raised its position in Unifi stock. Aperio Group LLC raised its stake in Unifi, Inc. (NYSE:UFI) by 8.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 14,487 shares of the textile maker’s stock after buying an additional 1,086 shares during the period. Aperio Group LLC owned about 0.08% of Unifi worth $446,000 as of its most recent filing with the SEC. 76.79% of the stock is currently owned by hedge funds and other institutional investors.
UFI has been the topic of a number of research reports. Zacks Investment Research upgraded Unifi from a “sell” rating to a “hold” rating in a research report on Wednesday, March 29th. ValuEngine cut Unifi from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, BidaskClub cut Unifi from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th.
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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