Unifi (UFI) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Unifi (NYSE:UFI) from a hold rating to a buy rating in a report published on Sunday, December 31st.

UFI has been the topic of a number of other reports. Zacks Investment Research raised Unifi from a sell rating to a hold rating in a research note on Tuesday, December 26th. CJS Securities began coverage on Unifi in a research note on Wednesday, September 20th. They issued an outperform rating and a $42.00 price objective on the stock.

Unifi (UFI) traded down $0.41 during trading on Friday, reaching $36.40. The company’s stock had a trading volume of 29,400 shares, compared to its average volume of 44,186. Unifi has a 1 year low of $26.02 and a 1 year high of $39.21. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.83 and a current ratio of 3.39. The company has a market capitalization of $672.46, a PE ratio of 20.80 and a beta of 0.84.

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

In related news, Director Kenneth G. Langone purchased 5,949 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was acquired at an average price of $37.74 per share, for a total transaction of $224,515.26. Following the completion of the acquisition, the director now owns 1,120,000 shares of the company’s stock, valued at approximately $42,268,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert J. Bishop purchased 5,427 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were bought at an average price of $34.76 per share, with a total value of $188,642.52. Following the acquisition, the director now directly owns 10,288 shares of the company’s stock, valued at approximately $357,610.88. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 17,118 shares of company stock valued at $622,913. Corporate insiders own 15.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of UFI. Uniplan Investment Counsel Inc. lifted its position in shares of Unifi by 93.6% during the 2nd quarter. Uniplan Investment Counsel Inc. now owns 362,477 shares of the textile maker’s stock valued at $11,164,000 after buying an additional 175,229 shares during the last quarter. LSV Asset Management lifted its holdings in Unifi by 42.6% during the 2nd quarter. LSV Asset Management now owns 416,341 shares of the textile maker’s stock worth $12,823,000 after purchasing an additional 124,363 shares in the last quarter. Royal Bank of Canada lifted its holdings in Unifi by 16.5% during the 2nd quarter. Royal Bank of Canada now owns 634,731 shares of the textile maker’s stock worth $19,549,000 after purchasing an additional 89,921 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Unifi by 9.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,022,282 shares of the textile maker’s stock worth $36,424,000 after purchasing an additional 86,563 shares in the last quarter. Finally, Royce & Associates LP lifted its holdings in Unifi by 8.9% during the 3rd quarter. Royce & Associates LP now owns 435,503 shares of the textile maker’s stock worth $15,517,000 after purchasing an additional 35,500 shares in the last quarter. 78.30% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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

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