Unifi (NYSE:UFI) Posts Quarterly Earnings Results, Meets Expectations

Unifi (NYSE:UFI) announced its earnings results on Wednesday. The textile maker reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06), Zacks reports. Unifi had a negative return on equity of 14.14% and a negative net margin of 1.50%.The company had revenue of $144.22 million for the quarter, compared to analyst estimates of $139.75 million.

Unifi Stock Performance

Shares of Unifi stock opened at $7.99 on Thursday. The business has a 50-day simple moving average of $5.77 and a 200 day simple moving average of $4.55. Unifi has a one year low of $2.96 and a one year high of $8.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.12 and a quick ratio of 1.59. The firm has a market capitalization of $148.48 million, a price-to-earnings ratio of -17.75, a PEG ratio of 7.49 and a beta of 0.69.

Institutional Investors Weigh In On Unifi

Hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. bought a new position in shares of Unifi in the 1st quarter worth $96,000. Jane Street Group LLC purchased a new position in shares of Unifi during the first quarter valued at approximately $64,000. XTX Topco Ltd bought a new stake in Unifi during the second quarter worth $80,000. Vanguard Group Inc. grew its holdings in Unifi by 3.0% during the third quarter. Vanguard Group Inc. now owns 730,812 shares of the textile maker’s stock worth $3,479,000 after buying an additional 21,195 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Unifi in the 3rd quarter valued at $54,000. Institutional investors own 67.67% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Weiss Ratings raised Unifi from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 10th. Wall Street Zen raised shares of Unifi to a “hold” rating in a research report on Sunday, July 12th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Unifi Company Profile

Unifi, Inc (NYSE: UFI) is a global manufacturer of polyester and nylon textured yarns and fibers, specializing in both virgin and recycled synthetic materials. Headquartered in Greensboro, North Carolina, the company serves a diverse range of end markets including apparel, athleisure, home furnishings, automotive and industrial applications. Unifi’s vertically integrated operations encompass polymer extrusion, spinning, texturing, and finishing processes designed to meet the performance and aesthetic requirements of its customers.

A key differentiator for Unifi is its REPREVE® brand, a family of certified recycled performance fibers made from post‐consumer plastic bottles and other waste streams.