UFP Industries (NASDAQ:UFPI) Rating Lowered to Hold at StockNews.com

UFP Industries (NASDAQ:UFPI) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.

A number of other research analysts have also recently weighed in on UFPI. Benchmark lifted their target price on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wedbush restated an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a research note on Monday, November 4th. BMO Capital Markets boosted their price objective on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus boosted their price objective on UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, UFP Industries has an average rating of “Moderate Buy” and an average price target of $148.00.

UFP Industries Price Performance

Shares of UFP Industries stock opened at $137.53 on Monday. UFP Industries has a twelve month low of $107.49 and a twelve month high of $141.33. The stock has a market capitalization of $8.35 billion, a P/E ratio of 18.92 and a beta of 1.39. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average price is $131.16 and its 200 day moving average price is $122.63.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share 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 firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business posted $2.10 EPS. UFP Industries’s revenue was down 9.8% compared to the same quarter last year. As a group, research analysts anticipate that UFP Industries will post 6.89 earnings per share for the current year.

Insider Transactions at UFP Industries

In other news, CEO Matthew J. Missad sold 15,000 shares of UFP Industries stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $131.03, for a total transaction of $1,965,450.00. Following the sale, the chief executive officer now directly owns 314,450 shares of the company’s stock, valued at approximately $41,202,383.50. The trade was a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.58% of the company’s stock.

Institutional Trading of UFP Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC increased its holdings in UFP Industries by 31.8% in the third quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock valued at $41,000 after buying an additional 76 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in UFP Industries by 0.7% in the second quarter. Meeder Asset Management Inc. now owns 14,556 shares of the construction company’s stock valued at $1,630,000 after buying an additional 105 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in UFP Industries by 1.8% in the third quarter. Kingsview Wealth Management LLC now owns 6,268 shares of the construction company’s stock valued at $822,000 after buying an additional 113 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings 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 valued at $866,000 after buying an additional 130 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in UFP Industries by 25.8% in the third quarter. GAMMA Investing LLC now owns 644 shares of the construction company’s stock valued at $84,000 after buying an additional 132 shares during the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

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.