Universal Forest Products (NASDAQ:UFPI) Lowered to “Sell” at BidaskClub

BidaskClub lowered shares of Universal Forest Products (NASDAQ:UFPI) from a hold rating to a sell rating in a research report released on Friday morning, BidAskClub reports.

Separately, ValuEngine cut shares of Universal Forest Products from a sell rating to a strong sell rating in a research note on Thursday, August 1st.

Universal Forest Products stock opened at $39.59 on Friday. The firm has a market cap of $2.49 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 2.84 and a beta of 1.89. Universal Forest Products has a 52-week low of $24.14 and a 52-week high of $42.80. The company has a quick ratio of 1.50, a current ratio of 2.89 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $39.42 and its two-hundred day moving average is $35.67.

Universal Forest Products (NASDAQ:UFPI) last posted its earnings results on Wednesday, July 24th. The construction company reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.07. Universal Forest Products had a net margin of 3.63% and a return on equity of 14.42%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the firm posted $0.71 EPS. The company’s revenue was down 4.2% on a year-over-year basis. On average, equities research analysts anticipate that Universal Forest Products will post 2.86 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, September 13th. The shares were sold at an average price of $42.50, for a total transaction of $425,000.00. Following the transaction, the executive vice president now directly owns 1,200 shares of the company’s stock, valued at $51,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David A. Tutas sold 750 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $40.45, for a total transaction of $30,337.50. Following the transaction, the insider now directly owns 1,107 shares in the company, valued at $44,778.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,935 shares of company stock valued at $1,730,059. 3.77% of the stock is owned by insiders.

Large investors have recently modified their holdings of the business. Bridge City Capital LLC grew its position in Universal Forest Products by 0.5% in the 2nd quarter. Bridge City Capital LLC now owns 64,131 shares of the construction company’s stock valued at $2,441,000 after buying an additional 316 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Universal Forest Products by 0.9% in the second quarter. Jennison Associates LLC now owns 35,286 shares of the construction company’s stock worth $1,343,000 after purchasing an additional 332 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Universal Forest Products by 1.8% in the second quarter. State of Alaska Department of Revenue now owns 20,885 shares of the construction company’s stock worth $794,000 after purchasing an additional 361 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Universal Forest Products by 1.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 24,278 shares of the construction company’s stock worth $924,000 after purchasing an additional 400 shares in the last quarter. Finally, Mason Street Advisors LLC lifted its position in shares of Universal Forest Products by 2.1% in the first quarter. Mason Street Advisors LLC now owns 19,556 shares of the construction company’s stock worth $585,000 after purchasing an additional 409 shares in the last quarter. 80.51% of the stock is currently owned by institutional investors.

Universal Forest Products Company Profile

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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