Unifi (NYSE:UFI) Announces Quarterly Earnings Results

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

Unifi Stock Down 1.3%

Shares of NYSE:UFI traded down $0.10 during trading on Wednesday, hitting $7.99. The company’s stock had a trading volume of 329,423 shares, compared to its average volume of 68,640. Unifi has a fifty-two week low of $2.96 and a fifty-two week high of $8.47. The business has a 50 day moving average price of $5.69 and a two-hundred day moving average price of $4.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.59 and a current ratio of 3.12. The company has a market capitalization of $148.45 million, a PE ratio of -17.75, a P/E/G ratio of 5.97 and a beta of 0.69.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of UFI. Goldman Sachs Group Inc. acquired a new position in Unifi during the 1st quarter worth $96,000. Jane Street Group LLC acquired a new position in shares of Unifi during the first quarter worth about $64,000. XTX Topco Ltd purchased a new stake in shares of Unifi during the second quarter worth approximately $80,000. Vanguard Group Inc. raised 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 acquiring an additional 21,195 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Unifi in the third quarter worth approximately $54,000. 67.67% of the stock is currently owned by hedge funds and other institutional investors.

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.