Universal Forest Products (NASDAQ:UFPI) Cut to Hold at BidaskClub

Universal Forest Products (NASDAQ:UFPI) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, June 26th, BidAskClub reports.

Other equities research analysts have also recently issued reports about the stock. ValuEngine upgraded shares of Zynga from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 28th. Zacks Investment Research lowered shares of Eyenovia from a “hold” rating to a “sell” rating in a report on Tuesday, February 26th.

Shares of UFPI stock traded down $0.15 during trading hours on Wednesday, hitting $36.47. The company’s stock had a trading volume of 218,370 shares, compared to its average volume of 249,778. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.63 and a current ratio of 3.44. The stock has a 50 day simple moving average of $36.23. Universal Forest Products has a 12-month low of $24.14 and a 12-month high of $38.53. The stock has a market cap of $2.24 billion, a PE ratio of 15.65, a PEG ratio of 2.66 and a beta of 1.91.

Universal Forest Products (NASDAQ:UFPI) last posted its earnings results on Wednesday, April 24th. The construction company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Universal Forest Products had a net margin of 3.35% and a return on equity of 13.90%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS. Research analysts expect that Universal Forest Products will post 2.79 EPS for the current year.

In other news, CEO Matthew J. Missad sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $35.75, for a total transaction of $429,000.00. Following the transaction, the chief executive officer now directly owns 246,381 shares in the company, valued at $8,808,120.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert D. Coleman sold 10,000 shares of Universal Forest Products stock in a transaction on Friday, April 26th. The shares were sold at an average price of $35.34, for a total transaction of $353,400.00. Following the completion of the transaction, the executive vice president now owns 1,200 shares in the company, valued at $42,408. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,380 shares of company stock valued at $2,524,105. 3.77% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in UFPI. Bank of Montreal Can increased its holdings in shares of Universal Forest Products by 16.9% during the 4th quarter. Bank of Montreal Can now owns 3,009 shares of the construction company’s stock valued at $78,000 after acquiring an additional 435 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Universal Forest Products by 16.2% during the 4th quarter. SG Americas Securities LLC now owns 14,951 shares of the construction company’s stock valued at $388,000 after acquiring an additional 2,085 shares during the last quarter. Comerica Bank increased its holdings in shares of Universal Forest Products by 0.7% during the 4th quarter. Comerica Bank now owns 60,298 shares of the construction company’s stock valued at $1,757,000 after acquiring an additional 415 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Universal Forest Products during the 4th quarter valued at about $505,000. Finally, Oregon Public Employees Retirement Fund acquired a new stake in Universal Forest Products in the 4th quarter valued at approximately $609,000. 79.87% of the stock is owned by hedge funds and other 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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