BidaskClub Upgrades UFP Technologies (NASDAQ:UFPT) to “Buy”

UFP Technologies (NASDAQ:UFPT) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday, BidAskClub reports.

UFPT has been the topic of a number of other reports. Zacks Investment Research raised UFP Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. ValuEngine downgraded UFP Technologies from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 4th.

UFPT stock opened at $48.16 on Tuesday. The stock’s 50 day simple moving average is $48.39 and its 200 day simple moving average is $44.28. UFP Technologies has a fifty-two week low of $31.80 and a fifty-two week high of $52.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.10 and a current ratio of 3.00. The company has a market cap of $364.20 million, a P/E ratio of 19.58 and a beta of 0.62.

In other UFP Technologies news, SVP Christopher P. Litterio sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $45.52, for a total transaction of $227,600.00. Following the completion of the sale, the senior vice president now directly owns 11,289 shares of the company’s stock, valued at approximately $513,875.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.00% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC increased its holdings in UFP Technologies by 2.0% during the 4th quarter. Renaissance Technologies LLC now owns 542,956 shares of the industrial products company’s stock worth $26,936,000 after purchasing an additional 10,700 shares in the last quarter. FMR LLC increased its holdings in UFP Technologies by 61.0% during the 1st quarter. FMR LLC now owns 202,001 shares of the industrial products company’s stock worth $7,555,000 after purchasing an additional 76,557 shares in the last quarter. State Street Corp increased its holdings in UFP Technologies by 9.4% during the 4th quarter. State Street Corp now owns 145,789 shares of the industrial products company’s stock worth $7,233,000 after purchasing an additional 12,527 shares in the last quarter. Argent Capital Management LLC grew its holdings in shares of UFP Technologies by 0.4% in the fourth quarter. Argent Capital Management LLC now owns 105,367 shares of the industrial products company’s stock valued at $5,227,000 after acquiring an additional 400 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of UFP Technologies by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 98,553 shares of the industrial products company’s stock valued at $4,888,000 after acquiring an additional 2,942 shares in the last quarter. 78.11% of the stock is owned by hedge funds and other institutional investors.

UFP Technologies Company Profile

UFP Technologies, Inc designs and converts foams, plastics, composites, and natural fiber materials for the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets in the United States. It offers single patient use surfaces, advanced wound care, infection prevention, and disposables for surgical procedures, endoscopic procedures, orthopedic implants, orthopedic appliances, biopharma drug manufacturing, etc.; molded components automotive, aerospace, and defense markets; recycled protective packaging for B2C brands; and reusable cases and custom inserts.

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