Unifi (NYSE:UFI) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Unifi from “hold” to “buy,” though Weiss Ratings also revised its assessment while maintaining a “sell” rating; MarketBeat reports an overall average rating of “Sell.”
• Unifi shares opened at $6.60, down 0.9%, with a market capitalization of approximately $122.7 million and a 52-week trading range of $2.96 to $8.47.
• In its latest quarter, Unifi reported a loss of $0.06 per share, in line with estimates, while revenue of $144.22 million exceeded the $139.75 million consensus forecast; institutional investors own 67.67% of the stock.

Unifi (NYSE:UFI - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

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

Unifi Stock Down 0.9%

Shares of NYSE UFI opened at $6.60 on Friday. The stock has a market capitalization of $122.72 million, a PE ratio of -4.96 and a beta of 0.71. 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 firm has a fifty day moving average of $6.86 and a 200-day moving average of $5.02. Unifi has a 52-week low of $2.96 and a 52-week high of $8.47.

Unifi (NYSE:UFI - Get Free Report) last released its quarterly earnings data on Wednesday, August 19th. The textile maker reported ($0.06) EPS for the quarter, hitting analysts' consensus estimates of ($0.06). Unifi had a negative return on equity of 10.32% and a negative net margin of 4.62%.The company had revenue of $144.22 million for the quarter, compared to the consensus estimate of $139.75 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC acquired a new position in shares of Unifi in the 2nd quarter valued at approximately $126,000. Marquette Asset Management LLC acquired a new stake in Unifi in the second quarter valued at $374,000. Finally, Minerva Advisors LLC raised its holdings in Unifi by 6.1% in the fourth quarter. Minerva Advisors LLC now owns 1,222,420 shares of the textile maker's stock valued at $4,278,000 after acquiring an additional 69,939 shares in the last quarter. 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.

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