StockNews.com Upgrades UFP Industries (NASDAQ:UFPI) to Buy

UFP Industries (NASDAQ:UFPI) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Separately, Wedbush reaffirmed an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a research report on Monday, November 4th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, UFP Industries presently has a consensus rating of “Moderate Buy” and an average target price of $148.00.

UFP Industries Stock Performance

Shares of UFPI stock traded down $0.64 during midday trading on Tuesday, hitting $134.32. 182,784 shares of the company were exchanged, compared to its average volume of 278,080. UFP Industries has a 52 week low of $107.49 and a 52 week high of $141.33. The firm has a market capitalization of $8.16 billion, a P/E ratio of 18.48 and a beta of 1.41. The firm’s 50 day moving average price is $131.75 and its two-hundred day moving average price is $123.18. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.25). The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.76 billion. UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.10 earnings per share. As a group, equities research analysts anticipate that UFP Industries will post 6.88 earnings per share for the current year.

Insider Buying and Selling at UFP Industries

In related news, CEO Matthew J. Missad sold 15,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $131.03, for a total value of $1,965,450.00. Following the transaction, the chief executive officer now owns 314,450 shares in the company, valued at $41,202,383.50. The trade was a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.58% of the company’s stock.

Institutional Trading of UFP Industries

Large investors have recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of UFP Industries by 0.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,224,593 shares of the construction company’s stock valued at $361,155,000 after buying an additional 28,601 shares during the period. FMR LLC boosted its holdings in UFP Industries by 13.4% in the third quarter. FMR LLC now owns 1,635,577 shares of the construction company’s stock worth $214,604,000 after acquiring an additional 193,891 shares in the last quarter. Geode Capital Management LLC grew its stake in UFP Industries by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,528,221 shares of the construction company’s stock valued at $200,553,000 after acquiring an additional 14,857 shares during the period. Franklin Resources Inc. increased its holdings in shares of UFP Industries by 18.2% during the third quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company’s stock valued at $169,675,000 after acquiring an additional 188,969 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of UFP Industries by 3.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 887,637 shares of the construction company’s stock worth $116,467,000 after purchasing an additional 32,555 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

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.