Unifi (UFI) Lowered to Sell at ValuEngine

ValuEngine cut shares of Unifi (NYSE:UFI) from a hold rating to a sell rating in a research report sent to investors on Friday.

Separately, Zacks Investment Research upgraded shares of Unifi from a strong sell rating to a hold rating in a research note on Saturday, June 30th.

UFI stock traded down $0.48 on Friday, hitting $24.45. The company had a trading volume of 63,090 shares, compared to its average volume of 69,687. Unifi has a 12-month low of $24.16 and a 12-month high of $39.21. The company has a current ratio of 3.23, a quick ratio of 1.74 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $520.52 million, a P/E ratio of 18.52 and a beta of 0.68.

Unifi (NYSE:UFI) last issued its quarterly earnings results on Thursday, August 2nd. The textile maker reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.15. The business had revenue of $181.33 million for the quarter, compared to analysts’ expectations of $176.42 million. Unifi had a net margin of 4.67% and a return on equity of 6.37%. As a group, equities analysts predict that Unifi will post 1.21 earnings per share for the current year.

In other Unifi news, Director Robert J. Bishop purchased 4,000 shares of the company’s stock in a transaction dated Friday, August 31st. The shares were acquired at an average price of $31.79 per share, for a total transaction of $127,160.00. Following the purchase, the director now directly owns 10,288 shares of the company’s stock, valued at approximately $327,055.52. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert J. Bishop purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, August 7th. The shares were acquired at an average price of $31.66 per share, for a total transaction of $158,300.00. Following the purchase, the director now directly owns 10,288 shares in the company, valued at $325,718.08. The disclosure for this purchase can be found here. Insiders have bought a total of 38,459 shares of company stock worth $1,235,939 in the last quarter. Corporate insiders own 22.41% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in Unifi in the 1st quarter valued at about $100,000. Piedmont Investment Advisors LLC purchased a new stake in Unifi in the 2nd quarter valued at about $125,000. James Investment Research Inc. purchased a new stake in Unifi in the 2nd quarter valued at about $194,000. Barclays PLC boosted its position in Unifi by 120.7% in the 1st quarter. Barclays PLC now owns 5,467 shares of the textile maker’s stock valued at $199,000 after buying an additional 2,990 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Unifi in the 1st quarter valued at about $203,000. 80.36% of the stock is owned by hedge funds and other institutional investors.

Unifi Company Profile

Unifi, Inc, together with its subsidiaries, manufactures and sells synthetic and recycled products made from polyester and nylon in the United States, Brazil, China, and internationally. The company operates in three segments: Polyester, Nylon, and International. The Polyester segment manufactures and sells polyester plastic bottle flakes, polymer beads, partially oriented yarns, textured, solution and package dyed, twisted, beamed, and draw wound yarns to other yarn manufacturers, and knitters and weavers that produce yarn and/or fabric for the apparel, hosiery, home furnishings, automotive, industrial, and other end-use markets.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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