Benchmark Issues Pessimistic Forecast for UFP Industries (NASDAQ:UFPI) Stock Price

UFP Industries (NASDAQ:UFPI) had its target price lowered by equities researchers at Benchmark from $125.00 to $115.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Benchmark’s target price indicates a potential upside of 30.41% from the company’s current price.

A number of other brokerages have also issued reports on UFPI. DA Davidson cut their price target on shares of UFP Industries from $112.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. BMO Capital Markets reaffirmed a “market perform” rating and set a $108.00 price objective (down from $112.00) on shares of UFP Industries in a research note on Monday, April 20th. Zacks Research lowered shares of UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of UFP Industries in a research note on Tuesday, January 27th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, UFP Industries currently has an average rating of “Hold” and an average target price of $108.60.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $88.19 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.13 and a current ratio of 4.59. UFP Industries has a fifty-two week low of $84.82 and a fifty-two week high of $118.00. The firm has a market cap of $5.01 billion, a PE ratio of 19.25 and a beta of 1.44. The business has a 50 day moving average price of $94.61 and a 200-day moving average price of $96.26.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Wednesday, April 29th. The construction company reported $0.89 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.26). UFP Industries had a return on equity of 8.46% and a net margin of 4.31%.The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the firm earned $1.30 earnings per share. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. Equities research analysts predict that UFP Industries will post 5.19 earnings per share for the current year.

Hedge Funds Weigh In On UFP Industries

Large investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC boosted its position in shares of UFP Industries by 3.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,197 shares of the construction company’s stock valued at $291,000 after buying an additional 92 shares during the last quarter. Arkadios Wealth Advisors raised its position in UFP Industries by 2.1% in the 4th quarter. Arkadios Wealth Advisors now owns 4,648 shares of the construction company’s stock worth $423,000 after buying an additional 97 shares during the last quarter. 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 valued at $32,000 after acquiring an additional 114 shares during the period. SkyView Investment Advisors LLC boosted its holdings in shares of UFP Industries by 1.3% during the 4th quarter. SkyView Investment Advisors LLC now owns 9,133 shares of the construction company’s stock valued at $832,000 after acquiring an additional 114 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of UFP Industries by 2.3% during the 3rd quarter. US Bancorp DE now owns 5,439 shares of the construction company’s stock valued at $508,000 after acquiring an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

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.