Unifi (UFI) Upgraded to Hold by Zacks Investment Research

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Unifi (NYSE:UFI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Unifi, Inc. is a global textile solutions provider and one of the world’s leading innovators in manufacturing synthetic and recycled performance fibers. The Company’s proprietary technologies offer increased performance, comfort and style advantages, enabling customers to develop products that perform, look and feel better. Through REPREVE , one of Unifi’s proprietary technologies and the global leader in branded recycled performance fibers, Unifi has transformed more than 10 billion plastic bottles into recycled fiber for new clothing, shoes, home goods and other consumer products. Unifi continually innovates to meet consumer needs in moisture management, thermal regulation, antimicrobial, UV protection, stretch, water repellency and enhanced softness with leading products such as Sorbtek, XS Cross Section technology and Cotton-like technology. Unifi collaborates with many of the world’s most influential brands in the sports apparel, fashion, home, automotive and other industries. “

Separately, ValuEngine downgraded shares of Unifi from a “hold” rating to a “sell” rating in a research report on Tuesday.

Shares of Unifi stock traded down $0.22 on Tuesday, hitting $20.92. The stock had a trading volume of 11,982 shares, compared to its average volume of 88,267. Unifi has a twelve month low of $19.61 and a twelve month high of $38.65. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.73 and a quick ratio of 1.86. The company has a market capitalization of $388.77 million, a P/E ratio of 15.85 and a beta of 0.80.

Unifi (NYSE:UFI) last released its quarterly earnings data on Monday, February 4th. The textile maker reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.04. Unifi had a return on equity of 2.21% and a net margin of 2.00%. The company had revenue of $167.71 million during the quarter, compared to the consensus estimate of $166.80 million. Equities analysts anticipate that Unifi will post 0.57 EPS for the current year.

In other Unifi news, insider Richard Gerstein purchased 5,000 shares of the business’s stock in a transaction on Wednesday, February 6th. The shares were purchased at an average cost of $20.85 per share, for a total transaction of $104,250.00. Following the acquisition, the insider now owns 36,449 shares of the company’s stock, valued at $759,961.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert J. Bishop purchased 9,741 shares of the business’s stock in a transaction on Thursday, February 28th. The shares were acquired at an average price of $22.10 per share, for a total transaction of $215,276.10. Following the completion of the acquisition, the director now directly owns 16,734 shares in the company, valued at approximately $369,821.40. The disclosure for this purchase can be found here. Insiders have acquired a total of 64,195 shares of company stock valued at $1,406,480 in the last three months. Insiders own 22.41% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in shares of Unifi by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 170,706 shares of the textile maker’s stock worth $3,898,000 after buying an additional 9,094 shares in the last quarter. Walthausen & Co. LLC boosted its holdings in shares of Unifi by 0.8% during the 4th quarter. Walthausen & Co. LLC now owns 430,746 shares of the textile maker’s stock worth $9,838,000 after buying an additional 3,430 shares in the last quarter. ValueAct Holdings L.P. boosted its holdings in shares of Unifi by 21.9% during the 4th quarter. ValueAct Holdings L.P. now owns 1,127,679 shares of the textile maker’s stock worth $25,756,000 after buying an additional 202,679 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new position in shares of Unifi during the 4th quarter worth approximately $174,000. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in shares of Unifi by 407.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,632 shares of the textile maker’s stock worth $129,000 after buying an additional 4,522 shares in the last quarter. Hedge funds and other institutional investors own 80.15% 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.

Further Reading: What is a Leveraged Buyout (LBO)?

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