Benchmark Reaffirms “Buy” Rating for UFP Industries (NASDAQ:UFPI)

UFP Industries (NASDAQ:UFPI)‘s stock had its “buy” rating restated by equities researchers at Benchmark in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $135.00 price target on the construction company’s stock. Benchmark’s target price would suggest a potential upside of 22.91% from the company’s previous close.

Several other brokerages have also issued reports on UFPI. StockNews.com raised shares of UFP Industries from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Wedbush reaffirmed an “outperform” rating and issued 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 given a buy rating to the stock. According to data from MarketBeat, UFP Industries currently has an average rating of “Moderate Buy” and a consensus price target of $143.00.

UFP Industries Trading Down 2.7 %

Shares of UFP Industries stock opened at $109.84 on Wednesday. The firm has a market capitalization of $6.67 billion, a PE ratio of 16.22 and a beta of 1.45. 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 company’s fifty day moving average price is $115.09 and its two-hundred day moving average price is $123.09. UFP Industries has a 52-week low of $107.25 and a 52-week high of $141.33.

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

Insider Transactions at UFP Industries

In related news, Director William G. Currie sold 5,700 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $126.59, for a total transaction of $721,563.00. Following the transaction, the director now owns 61,140 shares in the company, valued at $7,739,712.60. This represents a 8.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.58% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC raised its position in shares of UFP Industries by 31.8% in the 3rd quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock valued at $41,000 after acquiring an additional 76 shares during the period. CIBC Asset Management Inc raised its position in shares of UFP Industries by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company’s stock valued at $213,000 after acquiring an additional 97 shares during the period. Robertson Stephens Wealth Management LLC raised its position in shares of UFP Industries by 5.7% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,914 shares of the construction company’s stock valued at $216,000 after acquiring an additional 104 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of UFP Industries by 2.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,382 shares of the construction company’s stock valued at $494,000 after acquiring an additional 104 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of UFP Industries by 6.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,796 shares of the construction company’s stock valued at $202,000 after acquiring an additional 105 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

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.