by Sam Collins | November 1, 2013 1:55 am
Unifi (UFI) — This producer of multi-filament polyester and nylon yarns with enhanced performance characteristics was first mentioned by the Trade of the Day on Feb. 25, at just over $15, and again as one of our Top Stocks to Buy for May at around $19.
It was noted in the May report that Benzinga named it one of the highest-growth textile company listed on the NYSE. It 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 Oct. 23, the company announced preliminary operating results for fiscal Q1 2014. Net income increased to $0.46 per share, up from $0.11 from a year ago. UFI used $5.8 million of excess cash flow from operations to repurchase 249,000 shares of the company’s stock. Analysts’ consensus earnings estimate for fiscal 2014, ended in June, is $0.94 per share and $1.20 for fiscal 2015. Insiders have been on-balance buyers of the stock for the past 12 months and the past three months, according to E-Trade.
The stock broke from a bullish “W” formation on June 1, and began a consolidation from $22 to $24 that ended Thursday with a breakout to a new high at $24.64. The breakout renders a new target of $27-plus.
Click to Enlarge 
Disclosure: Sam Collins owns shares of UFI.
Source URL: http://investorplace.com/2013/11/trade-day-unifi-ufi/
Short URL: http://invstplc.com/1nuTq0d
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.