UFP Industries (NASDAQ:UFPI) Given New $87.00 Price Target at Stifel Nicolaus

UFP Industries (NASDAQ:UFPI) had its price objective cut by investment analysts at Stifel Nicolaus from $100.00 to $87.00 in a note issued to investors on Monday, Marketbeat reports. The firm currently has a “hold” rating on the construction company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 4.00% from the stock’s previous close.

Several other research firms also recently commented on UFPI. Weiss Ratings reissued a “hold (c-)” rating on shares of UFP Industries in a report on Tuesday, January 27th. BMO Capital Markets raised UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price target for the company in a research report on Tuesday, May 5th. Benchmark cut their price objective on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Zacks Research lowered shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 17th. Finally, DA Davidson decreased their target price on shares of UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $105.40.

UFP Industries Stock Down 0.9%

NASDAQ:UFPI traded down $0.73 during mid-day trading on Monday, hitting $83.65. 28,417 shares of the company’s stock were exchanged, compared to its average volume of 396,208. UFP Industries has a one year low of $80.06 and a one year high of $118.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.64 and a quick ratio of 3.07. The business has a fifty day moving average price of $93.13 and a 200 day moving average price of $96.17. The company has a market cap of $4.72 billion, a PE ratio of 18.26 and a beta of 1.29.

UFP Industries (NASDAQ:UFPI) last announced its earnings results on Wednesday, April 29th. The construction company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.26). UFP Industries had a net margin of 4.31% and a return on equity of 8.50%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the business posted $1.30 EPS. UFP Industries’s revenue for the quarter was down 8.4% on a year-over-year basis. Equities analysts predict that UFP Industries will post 4.8 EPS for the current year.

Institutional Trading of UFP Industries

A number of institutional investors have recently made changes to their positions in UFPI. IAG Wealth Partners LLC bought a new stake in shares of UFP Industries in the first quarter worth approximately $28,000. Root Financial Partners LLC lifted its position in UFP Industries by 86.0% during the first quarter. Root Financial Partners LLC now owns 320 shares of the construction company’s stock valued at $29,000 after purchasing an additional 148 shares during the period. Geneos Wealth Management Inc. boosted its holdings in UFP Industries by 54.8% in the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock worth $32,000 after purchasing an additional 114 shares during the last quarter. Signaturefd LLC boosted its holdings in UFP Industries by 66.1% in the fourth quarter. Signaturefd LLC now owns 387 shares of the construction company’s stock worth $35,000 after purchasing an additional 154 shares during the last quarter. Finally, Danske Bank A S grew its position in UFP Industries by 300.0% in the 4th quarter. Danske Bank A S now owns 400 shares of the construction company’s stock worth $36,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Company Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.