UFP Technologies (NASDAQ:UFPT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday, November 18th. The firm presently has a $30.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 7.33% from the company’s current price.
According to Zacks, “UFP TECH., INC. designs and manufactures a range of high-performance cushion packaging and specialty foam and plastic prods. for the industrial and consumer markets. UFP also designs precision moulded fibre packaging prods. made from recycled paper. “
UFP Technologies (NASDAQ:UFPT) traded up $0.10 on Friday, hitting $27.95. The stock had a trading volume of 9,453 shares, compared to its average volume of 21,299. The firm has a market cap of $205.31, a price-to-earnings ratio of 25.92 and a beta of 0.12. UFP Technologies has a 12 month low of $22.95 and a 12 month high of $31.50.
UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.13). UFP Technologies had a net margin of 5.43% and a return on equity of 6.83%. The business had revenue of $35.68 million during the quarter, compared to analyst estimates of $38.70 million. sell-side analysts forecast that UFP Technologies will post 1.12 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of UFPT. Bank of New York Mellon Corp raised its position in shares of UFP Technologies by 2.6% during the first quarter. Bank of New York Mellon Corp now owns 41,584 shares of the industrial products company’s stock worth $1,077,000 after acquiring an additional 1,041 shares during the last quarter. American International Group Inc. raised its position in shares of UFP Technologies by 6.9% during the first quarter. American International Group Inc. now owns 3,939 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 255 shares during the last quarter. Geode Capital Management LLC increased its holdings in UFP Technologies by 5.0% in the first quarter. Geode Capital Management LLC now owns 52,650 shares of the industrial products company’s stock worth $1,363,000 after purchasing an additional 2,491 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in UFP Technologies by 19.5% in the first quarter. Dimensional Fund Advisors LP now owns 124,106 shares of the industrial products company’s stock worth $3,214,000 after purchasing an additional 20,292 shares in the last quarter. Finally, First Quadrant L P CA bought a new stake in UFP Technologies in the second quarter worth approximately $187,000. Institutional investors own 69.08% of the company’s stock.
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About UFP Technologies
UFP Technologies, Inc is a designer and custom converter of foams, plastics, composites and natural fiber materials. The Company is engaged in providing solutions to customers primarily within the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets. It converts these materials using laminating, molding, and fabricating manufacturing technologies.
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