Analysts Set UFP Industries, Inc. (NASDAQ:UFPI) PT at $105.40

Shares of UFP Industries, Inc. (NASDAQ:UFPI) have received an average rating of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $105.40.

A number of research firms have recently weighed in on UFPI. Stifel Nicolaus reduced their target price on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a report on Monday, May 11th. Weiss Ratings downgraded shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Zacks Research lowered UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 17th. Benchmark reduced their price objective on UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, DA Davidson decreased their price objective on UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, May 1st.

UFP Industries Stock Performance

NASDAQ UFPI opened at $82.32 on Friday. The stock has a market capitalization of $4.65 billion, a PE ratio of 17.97 and a beta of 1.22. The business has a 50 day simple moving average of $84.51 and a two-hundred day simple moving average of $93.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.64 and a quick ratio of 3.07. UFP Industries has a 1-year low of $77.89 and a 1-year high of $118.00.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.26). The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.51 billion. UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The firm’s revenue was down 8.4% on a year-over-year basis. During the same period last year, the company earned $1.30 earnings per share. On average, research analysts predict that UFP Industries will post 4.6 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.44 annualized dividend and a dividend yield of 1.7%. UFP Industries’s payout ratio is currently 31.44%.

Institutional Trading of UFP Industries

Institutional investors have recently bought and sold shares of the stock. IAG Wealth Partners LLC bought a new position in UFP Industries during the first quarter valued at $28,000. Root Financial Partners LLC boosted its stake in shares of UFP Industries by 86.0% during the 1st quarter. Root Financial Partners LLC now owns 320 shares of the construction company’s stock worth $29,000 after purchasing an additional 148 shares during the period. Geneos Wealth Management Inc. grew its holdings in UFP Industries by 54.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after purchasing an additional 114 shares during the last quarter. Signaturefd LLC grew its holdings in UFP Industries by 66.1% during the 4th quarter. Signaturefd LLC now owns 387 shares of the construction company’s stock valued at $35,000 after purchasing an additional 154 shares during the last quarter. Finally, Danske Bank A S raised its position in UFP Industries by 300.0% in the 4th quarter. Danske Bank A S now owns 400 shares of the construction company’s stock worth $36,000 after purchasing an additional 300 shares during the period. 81.81% of the stock is currently owned by institutional investors.

About UFP Industries

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.