UFP Industries (NASDAQ:UFPI) Cut to Hold at StockNews.com

UFP Industries (NASDAQ:UFPIGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

UFPI has been the subject of a number of other research reports. DA Davidson upped their target price on UFP Industries from $93.00 to $105.00 in a report on Monday. BMO Capital Markets lifted their price objective on UFP Industries from $82.00 to $88.00 and gave the stock a “market perform” rating in a report on Tuesday. Finally, Wedbush lifted their price objective on UFP Industries from $85.00 to $92.00 in a report on Thursday, February 17th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, UFP Industries currently has a consensus rating of “Buy” and a consensus price target of $92.83.

UFPI stock traded down $1.94 during mid-day trading on Tuesday, reaching $78.90. 386,409 shares of the company traded hands, compared to its average volume of 332,986. UFP Industries has a 52-week low of $67.50 and a 52-week high of $94.80. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.67 and a quick ratio of 1.43. The company has a market capitalization of $4.90 billion, a P/E ratio of 7.95 and a beta of 1.50. The company has a fifty day moving average price of $81.36 and a 200-day moving average price of $83.57.

UFP Industries (NASDAQ:UFPIGet Rating) last issued its earnings results on Thursday, April 21st. The construction company reported $3.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.91 by $1.09. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.06 billion. UFP Industries had a return on equity of 32.38% and a net margin of 6.69%. UFP Industries’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.67 earnings per share. As a group, analysts forecast that UFP Industries will post 8.27 EPS for the current year.

In other news, CEO Matthew J. Missad sold 300 shares of the stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $85.01, for a total value of $25,503.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Patrick M. Webster sold 2,420 shares of the firm’s stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $85.00, for a total value of $205,700.00. The disclosure for this sale can be found here. Insiders sold a total of 33,535 shares of company stock valued at $2,839,871 over the last quarter. Company insiders own 3.74% of the company’s stock.

A number of institutional investors have recently made changes to their positions in UFPI. First Trust Advisors LP grew its stake in UFP Industries by 81.1% during the 1st quarter. First Trust Advisors LP now owns 113,362 shares of the construction company’s stock worth $3,388,000 after purchasing an additional 50,777 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in UFP Industries during the 1st quarter valued at approximately $140,000. Morgan Stanley increased its position in UFP Industries by 13.9% during the 2nd quarter. Morgan Stanley now owns 294,367 shares of the construction company’s stock worth $21,883,000 after purchasing an additional 35,869 shares during the period. State of New Jersey Common Pension Fund D increased its position in UFP Industries by 11.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 36,091 shares of the construction company’s stock worth $2,453,000 after purchasing an additional 3,637 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of UFP Industries by 150.3% in the 3rd quarter. SG Americas Securities LLC now owns 9,002 shares of the construction company’s stock worth $612,000 after acquiring an additional 5,405 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

About UFP Industries (Get Rating)

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. It operates through Retail, Industrial, and Construction segments. The Retail segment offers preserved and unpreserved dimensional lumber; and outdoor living products, including wood and wood composite decking and related accessories, decorative lawn, garden, craft, and hobby products.

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