Unifi (NYSE:UFI) Downgraded to Sell Rating by StockNews.com

StockNews.com downgraded shares of Unifi (NYSE:UFI) from a hold rating to a sell rating in a report released on Thursday morning.

Unifi Price Performance

UFI stock opened at $4.68 on Thursday. The stock has a market cap of $85.88 million, a PE ratio of -2.56 and a beta of 0.63. Unifi has a 12 month low of $4.25 and a 12 month high of $7.91. The company has a 50-day moving average price of $4.94 and a 200 day moving average price of $5.54. The company has a current ratio of 3.44, a quick ratio of 1.46 and a debt-to-equity ratio of 0.52.

Unifi (NYSE:UFI) last released its earnings results on Wednesday, April 30th. The textile maker reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.07. Unifi had a negative return on equity of 14.49% and a negative net margin of 5.62%. The firm had revenue of $146.56 million for the quarter, compared to analysts’ expectations of $145.28 million. Equities research analysts anticipate that Unifi will post -2.25 earnings per share for the current year.

Insider Activity

In related news, Director Kenneth G. Langone acquired 16,097 shares of the stock in a transaction on Monday, February 10th. The stock was bought at an average cost of $5.55 per share, with a total value of $89,338.35. Following the transaction, the director now directly owns 2,352,000 shares in the company, valued at approximately $13,053,600. This represents a 0.69 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 17.85% of the company’s stock.

Institutional Trading of Unifi

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in Unifi by 5,775.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,163 shares of the textile maker’s stock valued at $82,000 after purchasing an additional 10,973 shares in the last quarter. Barclays PLC raised its holdings in shares of Unifi by 778.3% in the third quarter. Barclays PLC now owns 11,479 shares of the textile maker’s stock valued at $85,000 after acquiring an additional 10,172 shares in the last quarter. Virtu Financial LLC purchased a new stake in Unifi in the third quarter worth about $128,000. OneDigital Investment Advisors LLC grew its holdings in Unifi by 53.3% during the 4th quarter. OneDigital Investment Advisors LLC now owns 23,000 shares of the textile maker’s stock worth $144,000 after acquiring an additional 8,000 shares in the last quarter. Finally, Northern Trust Corp increased its position in Unifi by 22.4% during the 4th quarter. Northern Trust Corp now owns 65,179 shares of the textile maker’s stock valued at $407,000 after purchasing an additional 11,919 shares during the period. Hedge funds and other institutional investors own 67.67% of the company’s stock.

About Unifi

Unifi, Inc, together with its subsidiaries, engages in the manufacture and sale of recycled and synthetic products in North America, Central America, South America, Asia, and Europe. Its polyester products include partially oriented yarn, textured, solution and package dyed, twisted, beamed, and draw wound yarns in virgin or recycled varieties; and nylon products comprise virgin or recycled textured, solution dyed, and spandex covered yarns.