Traders Could See a Lot of Green With This Eco-Friendly Stock

by Sam Collins | June 18, 2013 7:04 am

Unifi (UFI[1]) — This producer of multi-filament polyester and nylon yarns with enhanced performance characteristics was first mentioned by the Trade of the Day[2] on Feb. 25 at just over $15, and again as one of our Top Stocks to Buy for May[3] on April 30 at around $19. It was noted in the May report that Benzinga Research had named Unifi “one of the highest-growth textile company listed on the NYSE.”

The company 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. On May 9, the company announced, “By the end of the 2013 graduation season, close to 440,000 students will graduate wearing REPREVE-based gowns, with over 12.7 million plastic bottles being recycled into these gowns since 2012.”

The stock broke from a bullish “W” formation Monday with a trading target of $25. MACD issued a buy signal in early June. It is noted that insiders have been consistent buyers of UFI.

06 18 13 ufi 300x187 Traders Could See a Lot of Green With This Eco Friendly Stock
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chart key 300x84 Traders Could See a Lot of Green With This Eco Friendly Stock[4]

Disclosure: Sam Collins owns shares of Unifi.

Endnotes:
  1. UFI: http://studio-5.financialcontent.com/investplace/quote?Symbol=UFI
  2. Trade of the Day: http://investorplace.com/2013/02/trade-of-the-day-unifi-inc-nyse-ufi/
  3. Top Stocks to Buy for May: http://investorplace.com/2013/04/top-stocks-to-buy-clmt-cern-hig-ilmn-ufi-yhoo/view-all/
  4. [Image]: http://investorplace.com/wp-content/uploads/2013/05/chart-key.gif

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