CJS Securities Begins Coverage on Unifi, Inc. (UFI)
CJS Securities assumed coverage on shares of Unifi, Inc. (NYSE:UFI) in a research report released on Wednesday morning. The firm issued an outperform rating and a $42.00 price objective on the textile maker’s stock.
Other analysts also recently issued reports about the stock. BidaskClub downgraded shares of Unifi from a buy rating to a hold rating in a research note on Saturday, July 8th. Zacks Investment Research downgraded shares of Unifi from a strong-buy rating to a hold rating in a research note on Wednesday, June 28th. Finally, ValuEngine downgraded shares of Unifi from a buy rating to a hold rating in a research note on Wednesday, June 14th.
Shares of Unifi (NYSE UFI) opened at 33.33 on Wednesday. The stock’s 50 day moving average price is $31.54 and its 200 day moving average price is $29.30. Unifi has a 12-month low of $26.02 and a 12-month high of $34.70. The firm has a market cap of $608.27 million, a PE ratio of 18.72 and a beta of 0.81.
Unifi (NYSE:UFI) last announced its earnings results on Wednesday, July 26th. The textile maker reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. Unifi had a net margin of 5.08% and a return on equity of 9.91%. The company had revenue of $171.30 million for the quarter, compared to the consensus estimate of $165.18 million. During the same period in the previous year, the business earned $0.57 EPS. The company’s revenue was up 4.5% on a year-over-year basis. On average, equities research analysts predict that Unifi will post $1.86 EPS for the current fiscal year.
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In related news, Director Robert J. Bishop purchased 3,683 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were acquired at an average cost of $29.98 per share, for a total transaction of $110,416.34. Following the acquisition, the director now directly owns 6,200 shares in the company, valued at approximately $185,876. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul R. Charron purchased 1,100 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were bought at an average price of $32.00 per share, for a total transaction of $35,200.00. Following the completion of the acquisition, the director now owns 18,520 shares in the company, valued at $592,640. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 21,183 shares of company stock worth $650,934. 15.40% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA grew its holdings in shares of Unifi by 58.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,628 shares of the textile maker’s stock valued at $143,000 after acquiring an additional 1,709 shares in the last quarter. Susquehanna International Group LLP purchased a new position in shares of Unifi during the 2nd quarter valued at $212,000. Voya Investment Management LLC purchased a new position in shares of Unifi during the 2nd quarter valued at $258,000. Citadel Advisors LLC purchased a new position in shares of Unifi during the 2nd quarter valued at $272,000. Finally, Alliancebernstein L.P. purchased a new position in shares of Unifi during the 2nd quarter valued at $277,000. Institutional investors and hedge funds own 77.03% of the company’s stock.
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.
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