Loop Capital Initiates Coverage on UFP Industries (NASDAQ:UFPI)

Analysts at Loop Capital began coverage on shares of UFP Industries (NASDAQ:UFPI) in a report issued on Wednesday, Marketbeat.com reports. The firm set a “hold” rating and a $112.00 price target on the construction company’s stock. Loop Capital’s price target would indicate a potential upside of 7.96% from the stock’s current price.

UFP Industries Stock Down 1.1%

Shares of UFPI opened at $103.74 on Wednesday. UFP Industries has a fifty-two week low of $93.00 and a fifty-two week high of $141.33. The company’s fifty day moving average is $100.31 and its two-hundred day moving average is $105.81. The firm has a market cap of $6.27 billion, a PE ratio of 16.98 and a beta of 1.47. The company has a quick ratio of 3.44, a current ratio of 4.96 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Monday, April 28th. The construction company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.27). The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.61 billion. UFP Industries had a return on equity of 11.78% and a net margin of 5.64%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.96 earnings per share. Analysts forecast that UFP Industries will post 7.08 earnings per share for the current year.

Institutional Trading of UFP Industries

A number of institutional investors have recently added to or reduced their stakes in the business. Callan Family Office LLC boosted its holdings in UFP Industries by 1,121.0% in the 2nd quarter. Callan Family Office LLC now owns 43,701 shares of the construction company’s stock worth $4,342,000 after acquiring an additional 40,122 shares during the period. Narwhal Capital Management lifted its position in shares of UFP Industries by 37.7% during the second quarter. Narwhal Capital Management now owns 54,319 shares of the construction company’s stock worth $5,397,000 after purchasing an additional 14,885 shares in the last quarter. 111 Capital purchased a new position in shares of UFP Industries in the second quarter valued at $1,154,000. QRG Capital Management Inc. grew its holdings in UFP Industries by 0.3% during the 2nd quarter. QRG Capital Management Inc. now owns 38,191 shares of the construction company’s stock valued at $3,795,000 after purchasing an additional 124 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in UFP Industries during the 2nd quarter worth $59,000. 81.81% of the stock is owned by hedge funds and other institutional investors.

About UFP Industries

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.