Unifi (NYSE:UFI) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Unifi (NYSE:UFI) from a hold rating to a sell rating in a report released on Thursday.

Unifi Stock Performance

Shares of UFI opened at $4.68 on Thursday. The business has a 50-day simple moving average of $4.94 and a two-hundred day simple moving average of $5.54. The company has a quick ratio of 1.46, a current ratio of 3.44 and a debt-to-equity ratio of 0.52. Unifi has a 52 week low of $4.25 and a 52 week high of $7.91. The stock has a market cap of $85.88 million, a price-to-earnings ratio of -2.56 and a beta of 0.63.

Unifi (NYSE:UFI) last released its earnings results on Wednesday, April 30th. The textile maker reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.83) by $0.07. Unifi had a negative net margin of 5.62% and a negative return on equity of 14.49%. The company had revenue of $146.56 million during the quarter, compared to analyst estimates of $145.28 million. On average, analysts expect that Unifi will post -2.25 EPS for the current year.

Insiders Place Their Bets

In other Unifi news, Director Kenneth G. Langone acquired 16,097 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was purchased at an average price of $5.55 per share, with a total value of $89,338.35. Following the completion of the purchase, the director now directly owns 2,352,000 shares in the company, valued at approximately $13,053,600. The trade was a 0.69 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its position in shares of Unifi by 778.3% during the third quarter. Barclays PLC now owns 11,479 shares of the textile maker’s stock valued at $85,000 after buying an additional 10,172 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Unifi by 5,775.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,163 shares of the textile maker’s stock valued at $82,000 after purchasing an additional 10,973 shares during the last quarter. Peapod Lane Capital LLC purchased a new position in shares of Unifi during the fourth quarter valued at about $3,191,000. Minerva Advisors LLC lifted its position in shares of Unifi by 5.6% in the fourth quarter. Minerva Advisors LLC now owns 855,241 shares of the textile maker’s stock worth $5,345,000 after buying an additional 45,013 shares in the last quarter. Finally, 22NW LP purchased a new stake in shares of Unifi in the fourth quarter worth about $1,461,000. 67.67% of the stock is currently owned by institutional investors.

About Unifi

Unifi, Inc, together with its subsidiaries, engages in the manufacture and sale of recycled and synthetic products in North America, Central America, South America, Asia, and Europe. Its polyester products include partially oriented yarn, textured, solution and package dyed, twisted, beamed, and draw wound yarns in virgin or recycled varieties; and nylon products comprise virgin or recycled textured, solution dyed, and spandex covered yarns.