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

UFP Industries (NASDAQ:UFPI)‘s stock had its “buy” rating reissued by equities researchers at DA Davidson in a research note issued on Tuesday, Benzinga reports. They presently have a $105.00 target price on the construction company’s stock. DA Davidson‘s target price would suggest a potential upside of 31.32% from the company’s current price.

A number of other brokerages also recently commented on UFPI. Weiss Ratings downgraded shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, October 12th. Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, July 31st. Stifel Nicolaus set a $85.00 price target on UFP Industries and gave the stock a “hold” rating in a research report on Monday. Finally, Oppenheimer initiated coverage on UFP Industries in a report on Wednesday, September 30th. They issued a “market perform” rating on the stock. 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 stock currently has a consensus rating of “Hold” and a consensus target price of $103.25.

UFP Industries Price Performance

Shares of NASDAQ:UFPI traded down $0.98 during midday trading on Tuesday, hitting $79.96. The company’s stock had a trading volume of 167,908 shares, compared to its average volume of 439,711. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.64 and a current ratio of 3.98. The business’s 50 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 cap of $4.41 billion, a P/E ratio of 18.33 and a beta of 1.22.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Wednesday, July 29th. The construction company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.11. UFP Industries had a net margin of 3.99% and a return on equity of 8.00%. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.79 billion. On average, analysts forecast that UFP Industries will post 4.47 EPS for the current year.

Institutional Trading of UFP Industries

Large investors have recently bought and sold shares of the business. Bank of America Corp DE acquired a new stake in UFP Industries during the 2nd quarter worth $25,529,000. Royal Bank of Canada raised its position in UFP Industries by 50.2% during the 1st quarter. Royal Bank of Canada now owns 52,008 shares of the construction company’s stock worth $4,792,000 after buying an additional 17,376 shares during the last quarter. Quantinno Capital Management LP raised its position in UFP Industries by 207.1% during the 1st quarter. Quantinno Capital Management LP now owns 34,990 shares of the construction company’s stock worth $3,223,000 after buying an additional 23,595 shares during the last quarter. Callan Family Office LLC purchased a new position in UFP Industries during the 2nd quarter worth $3,635,000. Finally, Freestone Grove Partners LP purchased a new position in UFP Industries during the 2nd quarter worth $2,443,000. Institutional investors and hedge funds own 81.81% of the company’s stock.

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.