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UFP Industries, Inc. (NASDAQ:UFPI) Receives Average Recommendation of “Buy” from


UFP Industries, Inc. (NASDAQ:UFPI) has received an average recommendation of “Buy” from the seven ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $88.00.

Separately, Stifel Nicolaus increased their target price on UFP Industries from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, October 21st.

Shares of UFPI stock opened at $91.52 on Wednesday. The business’s 50 day simple moving average is $77.93 and its 200 day simple moving average is $76.07. UFP Industries has a one year low of $52.11 and a one year high of $92.10. The stock has a market capitalization of $5.66 billion, a PE ratio of 12.37 and a beta of 1.53. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.89 and a quick ratio of 1.54.

UFP Industries (NASDAQ:UFPI) last announced its earnings results on Tuesday, October 19th. The construction company reported $1.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.38. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $1.81 billion. UFP Industries had a return on equity of 26.85% and a net margin of 5.75%. The firm’s revenue was up 40.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 earnings per share. As a group, research analysts expect that UFP Industries will post 7.46 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 1st will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, November 30th. This represents a $0.50 annualized dividend and a dividend yield of 0.55%. UFP Industries’s payout ratio is 8.11%.

In other UFP Industries news, CEO Matthew J. Missad sold 1,049 shares of the firm’s stock in a transaction dated Thursday, November 18th. The stock was sold at an average price of $90.22, for a total value of $94,640.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.53% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Berman Capital Advisors LLC purchased a new position in UFP Industries in the 2nd quarter worth approximately $30,000. Clearstead Advisors LLC purchased a new position in UFP Industries in the 3rd quarter worth approximately $43,000. Maverick Capital Ltd. purchased a new position in UFP Industries in the 2nd quarter worth approximately $44,000. Covington Capital Management purchased a new position in UFP Industries in the 2nd quarter worth approximately $45,000. Finally, Eaton Vance Management purchased a new position in UFP Industries in the 1st quarter worth approximately $56,000. 80.08% of the stock is currently owned by institutional investors.

UFP Industries Company Profile

UFP Industries, Inc manufactures and distributes wood and wood alternative products. It operates through the following segments: Retail, Industrial and Construction. The Retail segment comprises national home center retailers, retail-oriented regional lumberyards and contractor-oriented lumberyards. The Industrial segment manufacturers pallets, specialty crates, wooden boxes, and other containers used for packaging, shipping and material handling purposes.

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Analyst Recommendations for UFP Industries (NASDAQ:UFPI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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