Trading Report: The Unifi Inc. (UFI) Upgrade to Buy at The Zacks Investment Research

The Unifi Inc. (UFI) Upgrade to Buy at The Zacks Investment Research

Unifi Inc. (NYSE:UFI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage presently has a $32.00 price target on the stock. Zacks Investment Research’s target price would suggest a potential downside of 0.53% from the stock’s current price.

According to Zacks, “Unifi, Inc. is one of the world’s largest producers of textured polyester and nylon, both natural and package dyed, covered elastomeric yarns and twisted yarns. They are engaged in the business of processing yarns by: texturizing of synthetic filament polyester and nylon fiber; and spinning of cotton and cotton blend fibers. “

Unifi (NYSE:UFI) traded up 0.16% during trading on Wednesday, hitting $32.17. The stock had a trading volume of 20,396 shares. Unifi has a one year low of $20.71 and a one year high of $32.37. The stock has a 50 day moving average of $29.37 and a 200 day moving average of $27.45.

Unifi (NYSE:UFI) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.18. Unifi had a return on equity of 11.71% and a net margin of 5.58%. The business earned $160 million during the quarter, compared to the consensus estimate of $156.52 million. On average, equities research analysts expect that Unifi will post $1.75 EPS for the current year.

In other Unifi news, Director William L. Jasper sold 3,500 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $25.37, for a total value of $88,795.00. Following the completion of the transaction, the director now directly owns 113,560 shares in the company, valued at $2,881,017.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William L. Jasper sold 4,628 shares of the stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $25.61, for a total value of $118,523.08. Following the completion of the transaction, the director now owns 113,560 shares of the company’s stock, valued at $2,908,271.60. The disclosure for this sale can be found here. Corporate insiders own 16.40% of the company’s stock.

About Unifi

Unifi, Inc is a manufacturing company. The Company processes and sells commodity yarns, specialized yarns and premier value-added (PVA) yarns. The Company operates through three segments: Polyester segment, Nylon segment and International segment. The Company’s polyester products include polyester polymer beads (Chip), partially oriented yarn (POY), textured, solution and package dyed, twisted, beamed and draw wound yarns.

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