Unifi (UFI) Lifted to “Buy” at ValuEngine

Unifi (NYSE:UFI) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Sunday.

A number of other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Unifi from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. CJS Securities started coverage on Unifi in a research report on Wednesday, September 20th. They set an “outperform” rating and a $42.00 target price for the company.

Shares of Unifi (NYSE UFI) traded down $0.09 during midday trading on Friday, reaching $35.87. The company’s stock had a trading volume of 62,366 shares, compared to its average volume of 49,942. The company has a current ratio of 3.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.29. The company has a market cap of $657.84, a price-to-earnings ratio of 20.50 and a beta of 0.84. Unifi has a 1-year low of $26.02 and a 1-year high of $39.21.

Unifi (NYSE:UFI) last issued its earnings results on Monday, October 23rd. The textile maker reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. The business had revenue of $164.24 million during the quarter, compared to analyst estimates of $163.42 million. Unifi had a return on equity of 9.53% and a net margin of 4.98%. Unifi’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS. equities research analysts anticipate that Unifi will post 1.98 earnings per share for the current year.

In other news, Director Kenneth G. Langone bought 5,949 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was acquired at an average cost of $37.74 per share, with a total value of $224,515.26. Following the transaction, the director now directly owns 1,120,000 shares in the company, valued at approximately $42,268,800. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert J. Bishop bought 5,742 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were purchased at an average cost of $36.53 per share, with a total value of $209,755.26. Following the completion of the transaction, the director now owns 10,288 shares in the company, valued at $375,820.64. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 17,118 shares of company stock valued at $622,913. 15.40% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Unifi in the 3rd quarter worth $114,000. BNP Paribas Arbitrage SA raised its position in shares of Unifi by 58.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,628 shares of the textile maker’s stock worth $143,000 after acquiring an additional 1,709 shares in the last quarter. Susquehanna International Group LLP bought a new position in shares of Unifi in the 2nd quarter worth $212,000. Crossmark Global Holdings Inc. bought a new position in shares of Unifi in the 3rd quarter worth $215,000. Finally, Voya Investment Management LLC bought a new position in shares of Unifi in the 2nd quarter worth $258,000. 78.30% of the stock is owned by hedge funds and other institutional investors.

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About Unifi

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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