UFP Industries, Inc. (NASDAQ:UFPI) Stock Has Consensus Price Target of $104.50 According to Brokerages

Shares of UFP Industries, Inc. (NASDAQ:UFPI) have been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $104.50.

Several brokerages have recently commented on UFPI. Weiss Ratings downgraded UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Stifel Nicolaus set a $90.00 target price on UFP Industries and gave the company a “hold” rating in a research report on Monday, August 24th. Zacks Research upgraded UFP Industries from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Finally, Oppenheimer started coverage on UFP Industries in a report on Wednesday, September 30th. They issued a “market perform” rating on the stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its holdings in UFP Industries by 50.2% during the 1st quarter. Royal Bank of Canada now owns 52,008 shares of the construction company’s stock worth $4,792,000 after acquiring an additional 17,376 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of UFP Industries by 207.1% in the 1st quarter. Quantinno Capital Management LP now owns 34,990 shares of the construction company’s stock worth $3,223,000 after acquiring an additional 23,595 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of UFP Industries in the second quarter valued at about $25,529,000. Callan Family Office LLC bought a new position in shares of UFP Industries during the second quarter valued at about $3,635,000. Finally, Wasatch Advisors LP boosted its holdings in UFP Industries by 32.9% during the first quarter. Wasatch Advisors LP now owns 2,037,908 shares of the construction company’s stock worth $187,732,000 after purchasing an additional 504,609 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Stock Down 0.1%

Shares of NASDAQ UFPI opened at $75.75 on Monday. The firm has a market cap of $4.18 billion, a PE ratio of 17.37 and a beta of 1.22. UFP Industries has a 12-month low of $73.72 and a 12-month high of $118.00. The company’s fifty day simple moving average is $83.14 and its 200 day simple moving average is $85.83. The company has a quick ratio of 2.64, a current ratio of 3.98 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Wednesday, July 29th. The construction company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.11. UFP Industries had a net margin of 3.99% and a return on equity of 8.00%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.79 billion. As a group, sell-side analysts forecast that UFP Industries will post 4.47 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Tuesday, September 1st. UFP Industries’s payout ratio is 33.03%.

UFP Industries Company Profile

UFP Industries, Inc is a manufacturer and supplier of wood, composite and other products serving the retail, industrial and construction markets. The company’s offerings include outdoor living products such as decking, fencing, landscaping and garden products, as well as structural and component products used in residential and commercial construction.

UFP Industries also provides pallets, crates, specialty wood packaging and other custom products for industrial customers. Its construction-related operations supply components for manufactured housing, residential construction, commercial building and recreational vehicles.