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

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

A number of other equities analysts also recently commented on the company. Benchmark restated a “buy” rating and set a $135.00 target price on shares of UFP Industries in a report on Wednesday. Wedbush restated an “outperform” rating and set a $155.00 target price on shares of UFP Industries in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.00.

UFP Industries Price Performance

Shares of UFP Industries stock opened at $109.84 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.25. The business’s 50 day simple moving average is $115.09 and its two-hundred day simple moving average is $123.09. The stock has a market capitalization of $6.67 billion, a P/E ratio of 16.22 and a beta of 1.45. UFP Industries has a one year low of $107.25 and a one year high of $141.33.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Monday, February 17th. The construction company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.43 billion. UFP Industries had a return on equity of 13.35% and a net margin of 6.23%. Analysts forecast that UFP Industries will post 7.42 EPS for the current year.

Insiders Place Their Bets

In other UFP Industries news, Director William G. Currie sold 5,700 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $126.59, for a total value of $721,563.00. Following the completion of the transaction, the director now owns 61,140 shares in the company, valued at approximately $7,739,712.60. This represents a 8.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.58% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On UFP Industries

Institutional investors have recently modified their holdings of the stock. Signaturefd LLC grew its stake in shares of UFP Industries by 31.8% in 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 last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of UFP Industries in the third quarter worth $70,000. Jones Financial Companies Lllp grew its stake in shares of UFP Industries by 357.8% in the fourth quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company’s stock worth $60,000 after acquiring an additional 415 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of UFP Industries by 1,683.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company’s stock worth $60,000 after acquiring an additional 505 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of UFP Industries during the fourth quarter valued at $61,000. 81.81% of the stock is owned by hedge funds and other institutional investors.

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.