UFP Industries (NASDAQ:UFPI) Stock Keeps “Buy” Rating at DA Davidson

UFP Industries (NASDAQ:UFPI)‘s stock had its “buy” rating reaffirmed by equities research analysts at DA Davidson in a note issued to investors on Tuesday, Benzinga reports. They currently have a $105.00 target price on the construction company’s stock. DA Davidson‘s price objective would indicate a potential upside of 31.18% from the company’s current price.

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

UFP Industries Stock Performance

UFPI stock traded down $0.89 during trading on Tuesday, hitting $80.05. 67,935 shares of the company’s stock traded hands, compared to its average volume of 439,263. 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 52 week low of $73.72 and a 52 week high of $118.00. The stock has a fifty day moving average price of $81.40 and a two-hundred day moving average price of $90.05. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 18.36 and a beta of 1.22.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Wednesday, July 29th. The construction company reported $1.48 earnings per share 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 during 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 fiscal year.

Institutional Investors Weigh In On UFP Industries

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in UFP Industries in the second quarter worth about $688,063,000. Deprince Race & Zollo Inc. lifted its holdings in 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 purchasing an additional 123,500 shares during the period. Bank of New York Mellon Corp acquired a new stake in UFP Industries in the second quarter worth about $34,067,000. Bank of America Corp DE acquired a new stake in UFP Industries in the second quarter worth about $25,529,000. Finally, Sei Investments Co. lifted its holdings in UFP Industries by 19.1% in the first quarter. Sei Investments Co. now owns 262,394 shares of the construction company’s stock worth $24,171,000 after purchasing an additional 42,171 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

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.