UFP Industries (NASDAQ:UFPI) Earns “Buy” Rating from DA Davidson

UFP Industries (NASDAQ:UFPI)‘s stock had its “buy” rating reiterated by investment analysts at DA Davidson in a report issued on Tuesday, Benzinga reports. They presently have a $105.00 price objective on the construction company’s stock. DA Davidson‘s price target would suggest a potential upside of 30.65% from the stock’s current price.

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

UFP Industries Price Performance

UFP Industries stock traded down $0.56 during midday trading on Tuesday, reaching $80.37. The company had a trading volume of 85,836 shares, compared to its average volume of 439,327. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 2.64. The firm’s fifty day simple moving average is $81.40 and its 200-day simple moving average is $90.05. 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 $4.43 billion, a P/E ratio of 18.47 and a beta of 1.22.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC grew its position in UFP Industries by 76.9% during the third quarter. Signaturefd LLC now owns 1,240 shares of the construction company’s stock worth $96,000 after buying an additional 539 shares during the period. Fifth Third Wealth Advisors LLC grew its position in shares of UFP Industries by 8.2% in the third quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the construction company’s stock valued at $258,000 after purchasing an additional 253 shares during the last quarter. Reyes Financial Architecture Inc. acquired a new stake in shares of UFP Industries in the third quarter valued at approximately $25,000. Net Worth Advisory Group grew its position in shares of UFP Industries by 30.6% in the third quarter. Net Worth Advisory Group now owns 5,152 shares of the construction company’s stock valued at $397,000 after purchasing an additional 1,208 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of UFP Industries by 38.3% in the third quarter. State of Alaska Department of Revenue now owns 7,656 shares of the construction company’s stock valued at $590,000 after purchasing an additional 2,122 shares during the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

About UFP Industries

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.