UFP Industries (NASDAQ:UFPI) Earns “Outperform” Rating from Wedbush

UFP Industries (NASDAQ:UFPI)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a research report issued to clients and investors on Monday, RTT News reports. They presently have a $155.00 price target on the construction company’s stock. Wedbush’s price target indicates a potential upside of 23.87% from the stock’s previous close.

A number of other brokerages also recently commented on UFPI. BMO Capital Markets lifted their price target on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Stifel Nicolaus raised their price objective on UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Benchmark upped their target price on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, UFP Industries presently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

UFP Industries Price Performance

UFPI traded up $2.05 during midday trading on Monday, reaching $125.13. 39,704 shares of the company’s stock were exchanged, compared to its average volume of 279,872. The business’s 50-day moving average price is $126.88 and its 200 day moving average price is $120.72. The stock has a market capitalization of $7.62 billion, a PE ratio of 17.20 and a beta of 1.39. UFP Industries has a 1-year low of $100.25 and a 1-year high of $139.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.18.

UFP Industries (NASDAQ:UFPI) last announced its earnings results on Monday, October 28th. The construction company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the company posted $2.10 EPS. UFP Industries’s quarterly revenue was down 9.8% compared to the same quarter last year. As a group, equities analysts anticipate that UFP Industries will post 7.18 EPS for the current fiscal year.

Hedge Funds Weigh In On UFP Industries

A number of hedge funds have recently bought and sold shares of UFPI. Signaturefd LLC raised its stake in UFP Industries by 31.8% during the third quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock worth $41,000 after acquiring an additional 76 shares during the period. TFG Advisers LLC raised its position in shares of UFP Industries by 5.2% during the 1st quarter. TFG Advisers LLC now owns 1,871 shares of the construction company’s stock worth $230,000 after purchasing an additional 92 shares during the period. Meeder Asset Management Inc. boosted its position in UFP Industries by 0.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 14,556 shares of the construction company’s stock valued at $1,630,000 after purchasing an additional 105 shares during the period. Cadence Bank grew its stake in UFP Industries by 0.6% during the 1st quarter. Cadence Bank now owns 19,464 shares of the construction company’s stock worth $2,394,000 after buying an additional 110 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its position in UFP Industries by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 7,732 shares of the construction company’s stock worth $866,000 after buying an additional 130 shares during the period. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Company Profile

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.