Brokerages Set UFP Industries, Inc. (NASDAQ:UFPI) Target Price at $107.00

Shares of UFP Industries, Inc. (NASDAQ:UFPI) have been assigned a consensus rating of “Hold” from the six analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $107.00.

A number of equities analysts have recently weighed in on UFPI shares. BMO Capital Markets reiterated a “market perform” rating and set a $108.00 price target (down from $112.00) on shares of UFP Industries in a report on Monday. DA Davidson lowered their price target on UFP Industries from $112.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a report on Tuesday, January 27th. Finally, Zacks Research cut UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th.

Hedge Funds Weigh In On UFP Industries

Hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its stake in UFP Industries by 54.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock worth $32,000 after acquiring an additional 114 shares in the last quarter. Signaturefd LLC lifted its stake in UFP Industries by 66.1% during the 4th quarter. Signaturefd LLC now owns 387 shares of the construction company’s stock worth $35,000 after acquiring an additional 154 shares in the last quarter. Danske Bank A S lifted its stake in UFP Industries by 300.0% during the 4th quarter. Danske Bank A S now owns 400 shares of the construction company’s stock worth $36,000 after acquiring an additional 300 shares in the last quarter. IFP Advisors Inc lifted its stake in UFP Industries by 84.8% during the 4th quarter. IFP Advisors Inc now owns 414 shares of the construction company’s stock worth $38,000 after acquiring an additional 190 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in UFP Industries by 117.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 413 shares of the construction company’s stock worth $38,000 after acquiring an additional 223 shares in the last quarter. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

UFP Industries Stock Down 0.4%

Shares of NASDAQ:UFPI opened at $95.78 on Monday. The company has a quick ratio of 3.13, a current ratio of 4.59 and a debt-to-equity ratio of 0.07. The business has a fifty day moving average of $96.85 and a two-hundred day moving average of $96.14. The stock has a market cap of $5.44 billion, a P/E ratio of 19.19 and a beta of 1.44. UFP Industries has a 52-week low of $84.82 and a 52-week high of $118.00.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Monday, February 23rd. The construction company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.33). The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.40 billion. UFP Industries had a net margin of 4.66% and a return on equity of 9.27%. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.12 earnings per share. On average, research analysts expect that UFP Industries will post 5.19 earnings per share for the current year.

UFP Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.36 per share. The ex-dividend date was Monday, March 2nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from UFP Industries’s previous quarterly dividend of $0.35. UFP Industries’s dividend payout ratio (DPR) is currently 28.86%.

UFP Industries Company Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.