ValuEngine Downgrades Unifi (NYSE:UFI) to Buy

Unifi (NYSE:UFI) was downgraded by equities research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday, ValuEngine reports.

Separately, Zacks Investment Research cut Unifi from a “buy” rating to a “hold” rating in a research report on Friday, October 11th.

UFI opened at $24.50 on Tuesday. Unifi has a 12-month low of $15.90 and a 12-month high of $27.79. The stock has a market cap of $450.38 million, a price-to-earnings ratio of 188.46 and a beta of 0.67. The business has a 50 day moving average of $24.30 and a 200-day moving average of $20.77. The company has a quick ratio of 1.85, a current ratio of 3.57 and a debt-to-equity ratio of 0.29.

Unifi (NYSE:UFI) last released its quarterly earnings data on Tuesday, October 29th. The textile maker reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.03. Unifi had a return on equity of 0.63% and a net margin of 0.62%. The company had revenue of $179.95 million during the quarter, compared to analysts’ expectations of $184.10 million. As a group, analysts expect that Unifi will post 0.89 earnings per share for the current year.

In other news, Director Robert J. Bishop bought 41,700 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $20.36 per share, for a total transaction of $849,012.00. Following the completion of the purchase, the director now owns 16,734 shares in the company, valued at $340,704.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Archibald Cox, Jr. sold 4,749 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $26.01, for a total value of $123,521.49. Following the transaction, the director now owns 129,174 shares in the company, valued at approximately $3,359,815.74. The disclosure for this sale can be found here. Company insiders own 25.93% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC bought a new position in shares of Unifi during the third quarter worth approximately $37,000. Quadrant Capital Group LLC increased its stake in shares of Unifi by 764.8% during the third quarter. Quadrant Capital Group LLC now owns 2,136 shares of the textile maker’s stock worth $45,000 after purchasing an additional 1,889 shares during the period. Cutler Group LP increased its stake in Unifi by 39.0% during the 2nd quarter. Cutler Group LP now owns 2,138 shares of the textile maker’s stock worth $38,000 after acquiring an additional 600 shares during the period. Bank of Montreal Can increased its stake in Unifi by 51.0% during the 2nd quarter. Bank of Montreal Can now owns 4,642 shares of the textile maker’s stock worth $85,000 after acquiring an additional 1,568 shares during the period. Finally, State of Tennessee Treasury Department increased its stake in Unifi by 8.5% during the 3rd quarter. State of Tennessee Treasury Department now owns 6,445 shares of the textile maker’s stock worth $141,000 after acquiring an additional 507 shares during the period. Institutional investors own 79.64% of the company’s stock.

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.

See Also: What is a stock portfolio tracker?

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

Receive News & Ratings for Unifi Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Unifi and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit