Unifi, Inc. (UFI) Issues Earnings Results
Unifi, Inc. (NYSE:UFI) issued its earnings results on Monday. The textile maker reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02, Bloomberg Earnings reports. Unifi had a net margin of 5.08% and a return on equity of 9.91%. The firm had revenue of $164.24 million for the quarter, compared to analyst estimates of $163.42 million. During the same quarter last year, the business posted $0.51 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis.
Shares of Unifi (UFI) traded up 0.66% during mid-day trading on Tuesday, reaching $36.70. 21,870 shares of the company’s stock were exchanged. Unifi has a 52-week low of $26.02 and a 52-week high of $39.21. The company has a 50 day moving average price of $34.80 and a 200 day moving average price of $30.76. The firm has a market cap of $669.78 million, a P/E ratio of 20.62 and a beta of 0.80.
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In related news, Director Robert J. Bishop purchased 3,683 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were purchased at an average price of $29.98 per share, with a total value of $110,416.34. Following the acquisition, the director now directly owns 6,200 shares of the company’s stock, valued at $185,876. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul R. Charron purchased 1,100 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average cost of $32.00 per share, for a total transaction of $35,200.00. Following the acquisition, the director now directly owns 18,520 shares in the company, valued at $592,640. The disclosure for this purchase can be found here. Insiders bought a total of 21,183 shares of company stock worth $650,934 in the last three months. Insiders own 15.40% of the company’s stock.
UFI has been the topic of a number of research analyst 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. ValuEngine lowered shares of Unifi from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. BidaskClub lowered shares of Unifi from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, CJS Securities initiated coverage on shares of Unifi in a research report on Wednesday, September 20th. They issued an “outperform” rating and a $42.00 target price on the stock.
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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