BidaskClub Downgrades Universal Forest Products (NASDAQ:UFPI) to Sell

Universal Forest Products (NASDAQ:UFPI) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Tuesday, BidAskClub reports.

NASDAQ UFPI opened at $36.62 on Tuesday. The stock’s fifty day moving average price is $36.23. Universal Forest Products has a 52 week low of $24.14 and a 52 week high of $38.63. The company has a current ratio of 3.44, a quick ratio of 1.63 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $2.25 billion, a PE ratio of 15.72, a P/E/G ratio of 2.63 and a beta of 1.91.

Universal Forest Products (NASDAQ:UFPI) last posted its earnings results on Wednesday, April 24th. The construction company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. Universal Forest Products had a net margin of 3.35% and a return on equity of 13.90%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the company posted $0.53 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts forecast that Universal Forest Products will post 2.79 earnings per share for the current fiscal year.

In other news, EVP Robert D. Coleman sold 10,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $37.56, for a total transaction of $375,600.00. Following the transaction, the executive vice president now directly owns 1,200 shares of the company’s stock, valued at $45,072. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew J. Missad sold 12,000 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $35.75, for a total transaction of $429,000.00. Following the transaction, the chief executive officer now directly owns 246,381 shares in the company, valued at $8,808,120.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,380 shares of company stock worth $2,524,105. Corporate insiders own 3.77% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of UFPI. Norges Bank acquired a new stake in Universal Forest Products in the fourth quarter valued at $24,130,000. Dimensional Fund Advisors LP raised its holdings in Universal Forest Products by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,745,377 shares of the construction company’s stock valued at $123,190,000 after acquiring an additional 285,891 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in Universal Forest Products by 14.6% in the first quarter. Westwood Holdings Group Inc. now owns 1,067,593 shares of the construction company’s stock valued at $31,910,000 after acquiring an additional 136,112 shares in the last quarter. Hillcrest Asset Management LLC raised its holdings in Universal Forest Products by 35.7% in the first quarter. Hillcrest Asset Management LLC now owns 395,108 shares of the construction company’s stock valued at $11,810,000 after acquiring an additional 104,006 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Universal Forest Products by 47.5% in the fourth quarter. Deutsche Bank AG now owns 286,057 shares of the construction company’s stock valued at $7,423,000 after acquiring an additional 92,184 shares in the last quarter. 79.87% of the stock is currently owned by hedge funds and other institutional investors.

About Universal Forest Products

Universal Forest Products, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. The company offers preserved and unpreserved dimensional lumber; outdoor living products, including wood and wood composite decking and related accessories, and decorative lawn and garden products; and engineered wood components, which include roof and floor trusses, wall panels, engineered floor systems, I-joists, and lumber packages.

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