UFP Industries’ (UFPI) “Buy” Rating Reiterated at DA Davidson

UFP Industries (NASDAQ:UFPI)‘s stock had its “buy” rating reiterated by stock analysts at DA Davidson in a research note issued on Tuesday,Benzinga reports. They currently have a $112.00 price target on the construction company’s stock. DA Davidson’s price objective indicates a potential upside of 3.15% from the company’s current price.

Several other brokerages also recently commented on UFPI. Stifel Nicolaus set a $98.00 price objective on shares of UFP Industries in a research report on Tuesday, December 2nd. Weiss Ratings restated a “hold (c-)” rating on shares of UFP Industries in a report on Tuesday, January 27th. Finally, Zacks Research raised shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $107.33.

UFP Industries Trading Up 2.1%

Shares of UFPI stock traded up $2.26 during mid-day trading on Tuesday, hitting $108.58. The company’s stock had a trading volume of 138,724 shares, compared to its average volume of 363,102. The company has a market cap of $6.33 billion, a PE ratio of 20.02 and a beta of 1.49. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.23 and a current ratio of 4.49. The company’s fifty day simple moving average is $102.87 and its 200-day simple moving average is $97.64. UFP Industries has a 52 week low of $87.11 and a 52 week high of $118.00.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Monday, February 23rd. The construction company reported $0.70 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.33). The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.40 billion. UFP Industries had a return on equity of 10.18% and a net margin of 5.00%.The company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.12 EPS. As a group, equities research analysts expect that UFP Industries will post 7.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Matthew J. Missad sold 11,000 shares of UFP Industries stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $92.26, for a total transaction of $1,014,860.00. Following the completion of the transaction, the chairman directly owned 310,533 shares in the company, valued at $28,649,774.58. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael G. Wooldridge sold 1,192 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total transaction of $111,368.56. Following the sale, the director directly owned 14,697 shares of the company’s stock, valued at approximately $1,373,140.71. The trade was a 7.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.56% of the stock is currently owned by company insiders.

Institutional Trading of UFP Industries

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in UFP Industries during the 4th quarter valued at $75,183,000. Deprince Race & Zollo Inc. purchased a new stake in shares of UFP Industries in the third quarter valued at about $41,962,000. Boston Partners raised its holdings in shares of UFP Industries by 25.7% in the second quarter. Boston Partners now owns 1,847,503 shares of the construction company’s stock valued at $183,569,000 after purchasing an additional 378,203 shares during the last quarter. Millennium Management LLC lifted its position in shares of UFP Industries by 209.9% during the third quarter. Millennium Management LLC now owns 425,336 shares of the construction company’s stock valued at $39,765,000 after purchasing an additional 288,093 shares in the last quarter. Finally, Wasatch Advisors LP boosted its holdings in UFP Industries by 18.7% during the fourth quarter. Wasatch Advisors LP now owns 1,533,299 shares of the construction company’s stock worth $139,607,000 after purchasing an additional 241,152 shares during the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

About UFP Industries

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.