Unifi (NYSE:UFI) Posts Earnings Results, Beats Estimates By $0.09 EPS

Unifi (NYSE:UFI) announced its earnings results on Tuesday. The textile maker reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.09, FiscalAI reports. Unifi had a negative return on equity of 21.13% and a negative net margin of 4.30%.The company had revenue of $121.37 million for the quarter, compared to analyst estimates of $120.18 million.

Unifi Trading Up 4.6%

UFI traded up $0.18 during trading on Tuesday, reaching $4.10. 111,077 shares of the stock traded hands, compared to its average volume of 57,149. The stock’s 50-day moving average is $3.61 and its 200 day moving average is $4.11. Unifi has a 12 month low of $2.96 and a 12 month high of $6.30. The stock has a market capitalization of $75.28 million, a PE ratio of -3.06 and a beta of 0.77. The company has a quick ratio of 1.68, a current ratio of 3.59 and a debt-to-equity ratio of 0.45.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Unifi to a “sell” rating in a report on Saturday, December 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Unifi in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Unifi currently has a consensus rating of “Sell”.

Insider Buying and Selling

In other news, Director Kenneth G. Langone bought 25,811 shares of the stock in a transaction dated Thursday, December 4th. The shares were bought at an average cost of $3.42 per share, with a total value of $88,273.62. Following the completion of the transaction, the director directly owned 2,492,056 shares of the company’s stock, valued at $8,522,831.52. This trade represents a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 18.63% of the stock is owned by insiders.

Institutional Investors Weigh In On Unifi

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC purchased a new position in shares of Unifi during the third quarter valued at approximately $54,000. Vanguard Group Inc. lifted its stake in Unifi by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 730,812 shares of the textile maker’s stock valued at $3,479,000 after acquiring an additional 21,195 shares in the last quarter. XTX Topco Ltd purchased a new position in Unifi during the 2nd quarter worth $80,000. Jane Street Group LLC bought a new stake in shares of Unifi in the 1st quarter worth $64,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Unifi in the 1st quarter worth $96,000. Institutional investors and hedge funds own 67.67% of the company’s stock.

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.