UFP Industries (NASDAQ:UFPI) Stock Gets Downgrade from Zacks Research

UFP Industries (NASDAQ:UFPI) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday, Zacks reports.

A number of other equities analysts have also recently commented on UFPI. Stifel Nicolaus set a $85.00 target price on shares of UFP Industries and gave the company a “hold” rating in a report on Monday, October 26th. Weiss Ratings cut shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, October 12th. DA Davidson reissued a “buy” rating and set a $105.00 price objective on shares of UFP Industries in a research report on Tuesday, October 27th. Finally, Oppenheimer initiated coverage on shares of UFP Industries in a research report on Wednesday, September 30th. They set a “market perform” rating on the stock. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $103.25.

UFP Industries Trading Up 6.3%

UFPI opened at $86.31 on Tuesday. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 20.95 and a beta of 1.14. UFP Industries has a 52 week low of $73.72 and a 52 week high of $118.00. The business’s 50 day moving average is $80.43 and its two-hundred day moving average is $89.36. The company has a quick ratio of 2.58, a current ratio of 3.86 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Wednesday, October 28th. The construction company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.15). The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.60 billion. UFP Industries had a net margin of 3.61% and a return on equity of 7.53%. On average, research analysts predict that UFP Industries will post 4.26 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of UFPI. GAMMA Investing LLC lifted its stake in shares of UFP Industries by 15.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,004 shares of the construction company’s stock worth $78,000 after acquiring an additional 131 shares during the period. Root Financial Partners LLC boosted its holdings in shares of UFP Industries by 86.0% in the first quarter. Root Financial Partners LLC now owns 320 shares of the construction company’s stock valued at $29,000 after acquiring an additional 148 shares in the last quarter. World Investment Advisors increased its stake in shares of UFP Industries by 5.8% during the first quarter. World Investment Advisors now owns 3,171 shares of the construction company’s stock worth $292,000 after acquiring an additional 175 shares during the period. Cetera Investment Advisers increased its stake in shares of UFP Industries by 3.6% during the first quarter. Cetera Investment Advisers now owns 5,593 shares of the construction company’s stock worth $515,000 after acquiring an additional 194 shares during the period. Finally, State of Michigan Retirement System increased its stake in shares of UFP Industries by 1.4% during the first quarter. State of Michigan Retirement System now owns 14,000 shares of the construction company’s stock worth $1,290,000 after acquiring an additional 200 shares during the period. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

About UFP Industries

UFP Industries, Inc is a diversified manufacturer and distributor of wood, composite and other products serving the retail, construction and industrial markets. The company supplies materials and components used in outdoor living, residential and commercial construction, manufactured housing, packaging and a range of industrial applications.

Its products include treated lumber, decking, fencing, landscaping products, roof trusses, wall panels, wood components, pallets, crates, specialty packaging and other custom-engineered products.