UFP Industries’ (UFPI) Buy Rating Reaffirmed at DA Davidson

UFP Industries (NASDAQ:UFPI)‘s stock had its “buy” rating reiterated by equities researchers at DA Davidson in a research report issued on Tuesday, Benzinga reports. They presently have a $105.00 price objective on the construction company’s stock. DA Davidson‘s price objective would suggest a potential upside of 30.47% from the company’s current price.

Several other equities analysts have also recently issued reports on UFPI. Oppenheimer initiated coverage on UFP Industries in a report on Wednesday, September 30th. They set a “market perform” rating for the company. Zacks Research raised UFP Industries from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Weiss Ratings cut UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, October 12th. Finally, Stifel Nicolaus set a $85.00 price objective on UFP Industries and gave the stock a “hold” rating in a report on Monday. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $103.25.

UFP Industries Price Performance

Shares of UFP Industries stock traded down $0.45 during trading on Tuesday, reaching $80.48. The company’s stock had a trading volume of 114,385 shares, compared to its average volume of 439,445. The company has a quick ratio of 2.64, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. UFP Industries has a 12-month low of $73.72 and a 12-month high of $118.00. The company has a market capitalization of $4.44 billion, a P/E ratio of 18.49 and a beta of 1.22. The business has a 50 day moving average price of $81.40 and a 200-day moving average price of $90.05.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Wednesday, July 29th. The construction company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.11. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.79 billion. UFP Industries had a return on equity of 8.00% and a net margin of 3.99%. As a group, sell-side analysts anticipate that UFP Industries will post 4.47 EPS for the current year.

Hedge Funds Weigh In On UFP Industries

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of UFP Industries in the second quarter worth $688,063,000. Deprince Race & Zollo Inc. raised its holdings in shares of UFP Industries by 27.1% in the first quarter. Deprince Race & Zollo Inc. now owns 579,797 shares of the construction company’s stock worth $53,411,000 after acquiring an additional 123,500 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in UFP Industries in the second quarter valued at $34,067,000. Bank of America Corp DE acquired a new position in UFP Industries in the second quarter valued at $25,529,000. Finally, Sei Investments Co. increased its stake in UFP Industries by 19.1% in the first quarter. Sei Investments Co. now owns 262,394 shares of the construction company’s stock valued at $24,171,000 after purchasing an additional 42,171 shares during the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

UFP Industries Company Profile

UFP Industries, Inc is a diversified manufacturer and distributor of wood, composite and other products serving the retail, construction and industrial markets. The company supplies materials and components used in outdoor living, residential and commercial construction, manufactured housing, packaging and a range of industrial applications.

Its products include treated lumber, decking, fencing, landscaping products, roof trusses, wall panels, wood components, pallets, crates, specialty packaging and other custom-engineered products.