Sidoti began coverage on shares of Universal Forest Products, Inc. (NASDAQ:UFPI) in a research note published on Tuesday morning, The Fly reports. The firm issued a buy rating on the construction company’s stock.

Several other equities research analysts have also recently issued reports on UFPI. ValuEngine cut Universal Forest Products from a buy rating to a hold rating in a report on Friday, June 2nd. Zacks Investment Research cut Universal Forest Products from a buy rating to a hold rating in a report on Friday, June 2nd. Finally, BidaskClub upgraded Universal Forest Products from a sell rating to a hold rating in a report on Saturday, June 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $105.50.

Universal Forest Products (NASDAQ:UFPI) traded down 1.24% during midday trading on Tuesday, hitting $85.29. The company had a trading volume of 76,902 shares. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 16.93 and a beta of 1.89. The stock has a 50 day moving average of $87.26 and a 200 day moving average of $94.23. Universal Forest Products has a 52-week low of $82.25 and a 52-week high of $110.97.

Universal Forest Products (NASDAQ:UFPI) last posted its quarterly earnings data on Tuesday, July 18th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.85 by $0.21. Universal Forest Products had a return on equity of 11.73% and a net margin of 2.86%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business earned $1.64 EPS. Universal Forest Products’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, analysts anticipate that Universal Forest Products will post $5.60 EPS for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Universal Forest Products by 24,097.2% in the first quarter. BlackRock Inc. now owns 3,185,077 shares of the construction company’s stock worth $313,858,000 after buying an additional 3,171,914 shares during the last quarter. Norges Bank purchased a new position in shares of Universal Forest Products during the fourth quarter worth $26,365,000. FMR LLC boosted its position in shares of Universal Forest Products by 132.6% in the fourth quarter. FMR LLC now owns 175,174 shares of the construction company’s stock worth $17,899,000 after buying an additional 99,850 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Universal Forest Products by 27.2% in the first quarter. Principal Financial Group Inc. now owns 414,770 shares of the construction company’s stock worth $40,871,000 after buying an additional 88,604 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Universal Forest Products by 45.3% in the first quarter. Bank of America Corp DE now owns 207,854 shares of the construction company’s stock worth $20,482,000 after buying an additional 64,783 shares during the last quarter. Hedge funds and other institutional investors own 80.79% of the company’s stock.

About Universal Forest Products

Universal Forest Products, Inc is a holding company. The Company, through its subsidiaries, supplies wood, wood composite and other products to three primary markets, such as retail, construction and industrial. Its segments include North, South, West, Alternative Materials, International, idX Holdings, Inc (idX) and Corporate divisions.

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