Benchmark Raises UFP Industries (NASDAQ:UFPI) Price Target to $110.00

UFP Industries (NASDAQ:UFPIGet Rating) had its price target raised by analysts at Benchmark to $110.00 in a research note issued to investors on Monday, Stock Target Advisor reports. Benchmark’s price objective would indicate a potential upside of 26.79% from the stock’s current price.

A number of other analysts also recently issued reports on UFPI. Wedbush lifted their price target on shares of UFP Industries to $108.00 in a report on Friday, July 22nd. StockNews.com downgraded shares of UFP Industries from a “buy” rating to a “hold” rating in a report on Tuesday, April 26th. Stifel Nicolaus lifted their price target on shares of UFP Industries from $95.00 to $100.00 in a report on Friday, July 22nd. BMO Capital Markets lifted their price target on shares of UFP Industries from $82.00 to $88.00 and gave the company a “market perform” rating in a report on Tuesday, April 26th. Finally, DA Davidson lifted their price target on shares of UFP Industries from $90.00 to $101.00 in a report on Friday, July 22nd.

UFP Industries Stock Down 1.0 %

UFPI opened at $86.76 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.54 and a current ratio of 2.88. UFP Industries has a fifty-two week low of $64.13 and a fifty-two week high of $94.80. The firm’s fifty day moving average is $73.22 and its 200 day moving average is $78.28. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 8.37 and a beta of 1.40.

Insider Transactions at UFP Industries

In other news, insider David A. Tutas sold 1,107 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $85.39, for a total value of $94,526.73. Following the sale, the insider now directly owns 15,274 shares in the company, valued at approximately $1,304,246.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Patrick M. Benton sold 16,759 shares of the company’s stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $79.00, for a total transaction of $1,323,961.00. Following the transaction, the insider now directly owns 109,944 shares in the company, valued at approximately $8,685,576. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Tutas sold 1,107 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $85.39, for a total transaction of $94,526.73. Following the transaction, the insider now owns 15,274 shares in the company, valued at $1,304,246.86. The disclosure for this sale can be found here. Insiders have sold a total of 40,530 shares of company stock worth $3,248,568 in the last three months. Insiders own 3.74% of the company’s stock.

Hedge Funds Weigh In On UFP Industries

Several hedge funds have recently added to or reduced their stakes in UFPI. Personal CFO Solutions LLC boosted its position in UFP Industries by 3.4% in the 1st quarter. Personal CFO Solutions LLC now owns 4,064 shares of the construction company’s stock valued at $314,000 after buying an additional 134 shares during the period. Maryland State Retirement & Pension System boosted its position in UFP Industries by 0.6% in the 1st quarter. Maryland State Retirement & Pension System now owns 24,817 shares of the construction company’s stock valued at $1,915,000 after buying an additional 144 shares during the period. First Horizon Advisors Inc. boosted its position in UFP Industries by 90.1% in the 4th quarter. First Horizon Advisors Inc. now owns 308 shares of the construction company’s stock valued at $28,000 after buying an additional 146 shares during the period. Islay Capital Management LLC boosted its position in UFP Industries by 9.3% in the 4th quarter. Islay Capital Management LLC now owns 1,734 shares of the construction company’s stock valued at $160,000 after buying an additional 148 shares during the period. Finally, Mackenzie Financial Corp boosted its position in UFP Industries by 3.3% in the 1st quarter. Mackenzie Financial Corp now owns 4,771 shares of the construction company’s stock valued at $368,000 after buying an additional 152 shares during the period. 81.18% of the stock is currently owned by institutional investors.

About UFP Industries

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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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