Unifi (NYSE:UFI) Rating Increased to Hold at StockNews.com

Unifi (NYSE:UFI) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

Unifi Stock Performance

Shares of UFI opened at $6.61 on Friday. The stock has a 50-day simple moving average of $6.78 and a 200-day simple moving average of $7.44. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.99 and a current ratio of 4.04. The stock has a market capitalization of $119.51 million, a PE ratio of -2.30 and a beta of 0.84. Unifi has a 1 year low of $5.85 and a 1 year high of $10.53.

Unifi (NYSE:UFI) last announced its quarterly earnings data on Thursday, August 24th. The textile maker reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.08. The business had revenue of $151.06 million during the quarter, compared to analysts’ expectations of $147.89 million. Unifi had a negative return on equity of 14.39% and a negative net margin of 8.88%. During the same quarter last year, the business posted $0.11 EPS. On average, analysts predict that Unifi will post -0.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Unifi news, Director Kenneth G. Langone bought 4,800 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was purchased at an average price of $7.00 per share, for a total transaction of $33,600.00. Following the completion of the purchase, the director now directly owns 1,803,402 shares in the company, valued at $12,623,814. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Kenneth G. Langone purchased 7,198 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were bought at an average price of $6.75 per share, with a total value of $48,586.50. Following the completion of the transaction, the director now directly owns 1,798,602 shares in the company, valued at approximately $12,140,563.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth G. Langone purchased 4,800 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were purchased at an average cost of $7.00 per share, for a total transaction of $33,600.00. Following the transaction, the director now owns 1,803,402 shares of the company’s stock, valued at $12,623,814. The disclosure for this purchase can be found here. Insiders acquired a total of 13,000 shares of company stock worth $88,870 over the last 90 days. 12.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Azarias Capital Management L.P. increased its position in Unifi by 59.0% during the third quarter. Azarias Capital Management L.P. now owns 1,293,073 shares of the textile maker’s stock worth $9,181,000 after buying an additional 479,792 shares during the period. Legato Capital Management LLC acquired a new position in Unifi during the second quarter worth approximately $857,000. XTX Topco Ltd acquired a new position in Unifi during the second quarter worth approximately $130,000. Y Intercept Hong Kong Ltd acquired a new position in Unifi during the second quarter worth approximately $132,000. Finally, Quadrature Capital Ltd increased its holdings in shares of Unifi by 105.7% in the second quarter. Quadrature Capital Ltd now owns 25,159 shares of the textile maker’s stock valued at $203,000 after purchasing an additional 12,929 shares during the period. Institutional investors and hedge funds own 68.47% of the company’s stock.

About Unifi

Unifi, Inc, together with its subsidiaries, manufactures and sells recycled and synthetic products in the United States, China, Brazil, and internationally. 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.