Unifi (NYSE:UFI) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Unifi (NYSE:UFI) from a hold rating to a buy rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings raised Unifi from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Unifi has a consensus rating of “Sell”.

Unifi Stock Performance

NYSE:UFI opened at $6.60 on Friday. The company has a quick ratio of 1.74, a current ratio of 3.33 and a debt-to-equity ratio of 0.34. The company has a market cap of $122.73 million, a P/E ratio of -4.96 and a beta of 0.71. Unifi has a fifty-two week low of $2.96 and a fifty-two week high of $8.47. The firm’s 50 day moving average is $6.86 and its two-hundred day moving average is $5.02.

Unifi (NYSE:UFI) last announced its quarterly earnings results on Wednesday, August 19th. The textile maker reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). Unifi had a negative net margin of 4.62% and a negative return on equity of 10.32%. The company had revenue of $144.22 million for the quarter, compared to analyst estimates of $139.75 million.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of UFI. Minerva Advisors LLC lifted its position in Unifi by 6.1% during the fourth quarter. Minerva Advisors LLC now owns 1,222,420 shares of the textile maker’s stock valued at $4,278,000 after buying an additional 69,939 shares in the last quarter. Marquette Asset Management LLC acquired a new stake in shares of Unifi in the second quarter worth $374,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Unifi in the second quarter worth $126,000. Hedge funds and other institutional investors own 67.67% of the company’s stock.

About Unifi

Unifi, Inc is a textile manufacturing company that produces and sells recycled and synthetic yarns. Its products include polyester and nylon yarns, as well as textured, twisted, covered and other specialty yarns used in apparel, home furnishings, automotive interiors and other industrial applications.

The company’s best-known brand is REPREVE, a line of recycled performance fibers made from post-consumer materials such as plastic bottles. REPREVE fibers are used by textile manufacturers and consumer brands seeking materials with recycled content and performance characteristics suitable for clothing, footwear, home goods and related products.

Founded in 1971, Unifi serves customers through manufacturing and distribution operations in the United States and international markets.