Unifi (UFI) Upgraded by ValuEngine to “Buy”

ValuEngine upgraded shares of Unifi (NYSE:UFI) from a hold rating to a buy rating in a report published on Sunday morning.

A number of other research firms also recently issued reports on UFI. Zacks Investment Research raised shares of Unifi from a strong sell rating to a hold rating in a report on Wednesday, September 27th. 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 for the company.

Unifi (NYSE UFI) traded down $0.14 during trading on Friday, hitting $35.87. 62,300 shares of the stock traded hands, compared to its average volume of 66,182. The firm has a market cap of $655.28, a price-to-earnings ratio of 20.50 and a beta of 0.84. Unifi has a one year low of $26.02 and a one year high of $39.21. The company has a quick ratio of 1.83, a current ratio of 3.39 and a debt-to-equity ratio of 0.29.

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

In other news, Director Robert J. Bishop bought 5,742 shares of Unifi stock in a transaction that occurred on Thursday, November 30th. The stock was bought at an average cost of $36.53 per share, with a total value of $209,755.26. Following the acquisition, the director now owns 10,288 shares of the company’s stock, valued at approximately $375,820.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth G. Langone bought 5,949 shares of Unifi stock in a transaction that occurred on Monday, October 30th. The stock was purchased at an average cost of $37.74 per share, with a total value of $224,515.26. Following the completion of the acquisition, the director now directly owns 1,120,000 shares in the company, valued at approximately $42,268,800. The disclosure for this purchase can be found here. Insiders have purchased 17,118 shares of company stock valued at $622,913 in the last 90 days. 15.40% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP lifted its position in Unifi by 58.6% in the third quarter. GSA Capital Partners LLP now owns 76,218 shares of the textile maker’s stock worth $2,716,000 after buying an additional 28,167 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in Unifi during the third quarter valued at about $258,000. Royce & Associates LP boosted its position in Unifi by 8.9% during the third quarter. Royce & Associates LP now owns 435,503 shares of the textile maker’s stock valued at $15,517,000 after purchasing an additional 35,500 shares in the last quarter. Impala Asset Management LLC boosted its holdings in Unifi by 1.5% in the third quarter. Impala Asset Management LLC now owns 1,253,980 shares of the textile maker’s stock worth $44,679,000 after acquiring an additional 18,683 shares in the last quarter. Finally, OxFORD Asset Management LLP boosted its holdings in Unifi by 173.2% in the third quarter. OxFORD Asset Management LLP now owns 43,233 shares of the textile maker’s stock worth $1,549,000 after acquiring an additional 27,410 shares in the last quarter. Institutional investors and hedge funds own 78.30% of the company’s stock.

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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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