Top Stock to Buy #5 – Unifi (UFI)
Unifi (NYSE:UFI) uses recycled products to produce REPREVE winter sportswear for companies like Patagonia, The North Face and Polartec, and plans to provide products for the Winter X Games 2013 Aspen.
It was named by Benzinga Research as one of the highest-growth textile company listed on the NYSE. Unifi is expected to earn $0.90 in FY 2014 versus $0.65 in FY 2013, ended in June. In its most recently reported fiscal third quarter, its cash position improved to $15.9 million, from $15.2 million in December 2012.
Following a breakaway gap in February, the stock jumped from $14 to $19. April was spent consolidating its recent gains in a bullish “V” formation. The trading target for UFI is $24, but long-term investors should expect a much higher return.