Unifi (NYSE:UFI) Issues Quarterly Earnings Results, Hits Expectations

Key Points

• Unifi reported quarterly EPS of negative $0.06, matching analysts’ consensus estimate. The company continued to post a negative return on equity of 14.14% and a negative net margin of 1.50%.
• Unifi shares fell 1.3% to $7.99 in mid-day trading, despite trading near the top of their $2.96–$8.47 one-year range. The stock’s average analyst rating remains “Sell.”
• Institutional investors own approximately 67.67% of Unifi’s shares, with Vanguard increasing its position by 3% and several other firms establishing new stakes.

Unifi (NYSE:UFI - Get Free Report) announced its earnings results on Wednesday. The textile maker reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.06), Zacks reports. Unifi had a negative return on equity of 14.14% and a negative net margin of 1.50%.

Unifi Stock Down 1.3%

Shares of NYSE UFI traded down $0.10 during mid-day trading on Wednesday, hitting $7.99. The company had a trading volume of 329,413 shares, compared to its average volume of 68,199. The company has a market capitalization of $148.45 million, a PE ratio of -17.75, a price-to-earnings-growth ratio of 5.97 and a beta of 0.69. The business's 50-day simple moving average is $5.69 and its 200 day simple moving average is $4.52. Unifi has a 1-year low of $2.96 and a 1-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.

Analyst Ratings Changes

Several research analysts have recently commented on UFI shares. Weiss Ratings upgraded Unifi from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, July 10th. Wall Street Zen upgraded Unifi to a "hold" rating in a report on Sunday, July 12th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of "Sell".

Institutional Investors Weigh In On Unifi

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

About Unifi

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source