UFP Industries (NASDAQ:UFPI) Releases Quarterly Earnings Results, Misses Estimates By $0.25 EPS

UFP Industries (NASDAQ:UFPI) announced its quarterly earnings results on Monday. The construction company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25), Briefing.com reports. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.76 billion. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.10 EPS.

UFP Industries Stock Down 8.5 %

UFPI traded down $11.18 during trading hours on Tuesday, reaching $120.39. 35,152 shares of the stock traded hands, compared to its average volume of 278,087. The firm’s fifty day simple moving average is $126.73 and its two-hundred day simple moving average is $120.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.34 and a quick ratio of 3.18. The company has a market cap of $7.43 billion, a price-to-earnings ratio of 16.36 and a beta of 1.39. UFP Industries has a fifty-two week low of $90.62 and a fifty-two week high of $139.54.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on UFPI. BMO Capital Markets boosted their price target on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Wedbush upgraded shares of UFP Industries from a “neutral” rating to an “outperform” rating and raised their price target for the company from $120.00 to $155.00 in a report on Tuesday, October 8th. Benchmark boosted their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com downgraded shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. Finally, Stifel Nicolaus upped their price target on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, UFP Industries has a consensus rating of “Moderate Buy” and an average target price of $139.60.

About UFP Industries

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.